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16.2.2006 10:00
Stock Exchange Releases

Fingrid Group's annual review and financial statements 2005

Turnover of the Fingrid Group in 2005 was 317 million euros (302 million euros in 2004). Fingrid transmitted 62 terawatt hours electricity (67 terawatt hours).
Operating profit excluding the change in the fair value of electricity derivatives was 97 million euros (109 million euros). The most significant factor contributing to the decreased operating profit was the considerable rise in the costs for maintaining the European electricity market.
 
The operating profit in accordance with IFRS was 110 million euros (101 million euros), which contains 13 million euros (-8 million euros) of change in the fair value of electricity derivatives. The IFRS profit before taxes was 75 million euros (59 million euros).
The return on investment was 8.7 per cent (8.2 per cent) and the return on equity 16.9 per cent (17.5 per cent.) The equity ratio was 23.9 per cent (21.6 per cent) at the end of the review period.
 
Group’s gross capital expenditure in 2005 was 63 million euros (43 million euros).
Turnover in 2006 is expected to decrease somewhat on the previous year mainly because of the tariff reduction.
 
These financial statements have been audited. Annual review and financial statements are attached.
 
Additional information:
Timo Toivonen, President and Chief Executive Officer, +358 30 395 5250 or +358 40 560 5250
Tom Pippingsköld, Chief Financial Officer, + 358 30 395 5157 or +358 40 519 5041