Annual Report and Financial Statements 2007 - Finnlines

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42 12. FINANCIAL INCOME AND EXPENSES EUR 1 000 2007 2006 Dividend income, investments available-for-sale 16 4 Profi t earned from the sale of available-for-sale assets 145 Debts carried at amortised cost, valuation (gain) 168 Derivative valuation at fair value (gain) Currency derivatives, non hedge accounting Interest income 822 Bank deposits 867 951 Loans and accounts receivable 275 585 Currency derivatives, non hedge accounting Exchange rate gains 248 477 Currency derivatives, non hedge accounting 321 546 Other exchange rate gains 2 347 8 197 Other fi nancial income 49 24 Total fi nancial income 5 258 10 784 Interest expenses Borrowings measured at amortised cost -26 325 -10 454 Interest rate swaps, non hedge accounting -78 Currency derivatives, non hedge accounting Derivative valuation at fair value (loss) -61 -117 Interest rate swaps, non hedge accounting Exchange rate losses -249 Loans carried at amortised cost -480 -619 Currency derivatives, non hedge accounting -3 996 -2 486 Other exchange rate losses -1 288 -6 688 Other fi nancial expenses -1 479 -1 193 Total fi nancial expenses -33 956 -21 557 Net fi nancial expenses -28 698 -10 773 Operating profi t includes EUR -0.04 million of exchange rate loss in 2007 (0.08 million gain in 2006). 13. INCOME TAXES CONTINUING OPERATIONS EUR 1 000 2007 2006 Tax on taxable income of the reporting period -1 340 -1 289 Tax from previous periods -19 -9 Change in deferred taxes -5 705 -8 691 Change in tax provision (liabilities) 1 339 Taxes in profi t and loss account, expense (-) -5 725 -9 989
Reconciliation of differences between tax on the profi t and loss account and taxes calculated using Finnish tax rates (2007: 26 per cent, 2006: 26 per cent): EUR 1 000 2007 2006 Profi t before taxes, continuing operations 40 118 47 725 Tax calculated using Finnish tax rate * -10 431 -12 408 Foreign subsidiaries’ differing tax rates -2 709 -9 477 Tax-exempt income and non-deductible expenses 6 095 11 905 Tax from previous periods -19 -9 The effect of the change in tax base on 1 Jan on taxes (net) ** 1 339 Tax expenses in profi t and loss account, continuing operations -5 725 -9 989 * As of 1 January 2005 the applicable tax rate in Finland is 26 per cent. ** As of 1 January 2008 the applicable corporation tax rate in Germany will change from 25 per cent to 15 per cent. DISCONTINUING OPERATIONS EUR 1 000 2006 Tax on taxable income of the reporting period -99 Change in deferred taxes 14 Taxes in profi t and loss account, expense (-) -85 Profi t before taxes 18 742 Tax calculated using Finnish tax rate * -4 873 Foreign subsidiaries’ differing tax rates -1 212 Tax-exempt income and non-deductible expenses 6 000 Tax expenses in profi t and loss account, discontinuing operations -85 * As of 1 January 2005 the applicable tax rate in Finland is 26 per cent. 14. EARNINGS PER SHARE UNDILUTED Undiluted earnings per share are calculated by dividing the consolidated profi t for the reporting period attributable to the parent company’s shareholders by the weighted average number of shares during the reporting period, minus the treasury shares purchased by the company. EUR 1 000 2007 2006 Profi t for the reporting period (EUR 1 000), continuing operations 33 900 37 311 Profi t for the reporting period (EUR 1 000), discontinuing operations 18 742 Weighted average number of shares (1 000) 40 692 40 685 Undiluted earnings per share (EUR/share), continuing operations 0.83 0.92 Undiluted earnings per share (EUR/share), discontinuing operations 0.46 FINNLINES 2007 43
Page 1: ANNUAL REPORT 2007
Page 4 and 5: 2 El Ferrol Bilbao Hull Antwerp Aar
Page 7 and 8: CHIEF EXECUTIVE OFFICER’S REVIEW
Page 9 and 10: STRATEGIC GOALS An even stronger po
Page 11 and 12: BUSINESS ENVIRONMENT Finnlines oper
Page 13 and 14: SHIPPING AND SEA TRANSPORT SERVICES
Page 15 and 16: PORT OPERATIONS Finnlines’ subsid
Page 17 and 18: ENVIRONMENT AND SAFETY Environmenta
Page 19 and 20: HUMAN RESOURCES In 2007, the last t
Page 21 and 22: FINANCIAL STATEMENTS FINNLINES 2007
Page 23 and 24: transported (approx. 400,000 in 200
Page 25 and 26: CONSOLIDATED PROFIT AND LOSS ACCOUN
Page 27 and 28: CONSOLIDATED CASH FLOW STATEMENT, I
Page 29 and 30: PROFIT AND LOSS ACCOUNT, PARENT COM
Page 31 and 32: CASH FLOW STATEMENT, PARENT COMPANY
Page 33 and 34: CONSOLIDATION PRINCIPLES Subsidiari
Page 35 and 36: INVESTMENT PROPERTIES Investment pr
Page 37 and 38: INVENTORIES Inventories include the
Page 39 and 40: EUR 1 000 Shipping and Sea Transpor
Page 41 and 42: EUR 1 000 1 Jan-4 Sep 2006 Cash fl
Page 43: 9. PERSONNEL EXPENSES EUR 1 000 200
Page 47 and 48: EUR 1 000 FINNLINES 2007 Land Build
Page 49 and 50: GOODWILL IMPAIRMENT TESTING For the
Page 51 and 52: 19. INVESTMENTS IN ASSOCIATED COMPA
Page 53 and 54: EUR 1 000 FINNLINES 2007 1 Jan 2007
Page 55 and 56: EUR 1 000 2006 FINNLINES 2007 Booke
Page 57 and 58: 27. PROVISIONS EUR 1 000 2007 2006
Page 59 and 60: FINANCIAL LEASE LIABILITIES Finance
Page 61 and 62: EUR 1 000 FINNLINES 2007 2007 Defi
Page 63 and 64: EUR 1 000 Fair value Spot-portion *
Page 65 and 66: The sensitivity of the Group's debt
Page 67 and 68: The Group adjusts its vessel capaci
Page 69 and 70: TRANSACTIONS WITH RELATED PARTIES A
Page 71 and 72: BOARD'S PROPOSAL FOR THE USE OF THE
Page 73 and 74: QUARTELY DATA EUR million Q1/2007 Q
Page 75 and 76: CALCULATION OF KEY RATIOS, IFRS Ear
Page 77 and 78: Principal shareholders on 31 Decemb
Page 79 and 80: FINNLINES 2007 The Board of Managem
Page 81 and 82: BOARD OF MANAGEMENT FROM 1 JANUARY
Page 83 and 84: FINNLINES 2007 FINNEAGLE (1999) Naa
Page 85 and 86: CONTACTS FINNLINES PLC Porkkalankat
Page 87 and 88: paRent cOmpany - accOunting pRincip
Page 89 and 90: Balance sheet, paRent cOmpany, Fas
Page 91 and 92: paRent cOmpany - nOtes tO the Finan
Page 93 and 94: 8. extRaORDinaRy items EUR 1 000 20
Page 95 and 96:
14. inventORies EUR 1 000 2007 2006
Page 97 and 98:
20 lOng-teRm liaBilities EUR 1 000
Page 99 and 100:
cOntingencies anD cOmmitments EUR 1
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Annual Report and Financial Statements 2007 - Finnlines

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