FINANCIAL STATEMENTS 2010 - Finnlines

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11. FINANCIAL INCOME AND EXPENSES EUR 1,000 2010 2009 Dividend income, available-for-sale assets 18 256 Derivative valuation at fair value (gain) Interest rate swaps, non-hedge accounting 2,369 839 Currency derivatives, non-hedge accounting 0 686 Interest income Bank deposits 20 130 Loans and accounts receivable 221 201 Exchange rate gains Loans carried at amortised cost 277 11 Other exchange rate gains 885 1,757 Other financial income 1 42 Total financial income 3,793 3,922 Interest expenses Borrowings measured at amortised cost -19,924 -25,357 Interest rate swaps, non-hedge accounting -2,475 -3,072 Currency derivatives, non-hedge accounting 0 -175 Derivative valuation at fair value (loss) Currency derivatives, non-hedge accounting -84 -681 Exchange rate losses Loans carried at amortised cost 0 -120 Other exchange rate losses -733 -687 Other financial expenses -2,518 -1,630 Total financial expenses -25,734 -31,724 Net financial expenses -21,942 -27,802 Result before interest and taxes includes EUR 419 thousand exchange rate losses for 2010 (EUR 195 thousand loss in 2009). 12. INCOME TAXES EUR 1,000 2010 2009 Tax on taxable income of the reporting period -689 -1,335 Tax from previous periods 17 -159 Change in deferred taxes -778 11,207 Taxes in profit and loss account, expense (-) -1,450 9,713 Reconciliation of differences between tax on the profit and loss account and taxes calculated using Finnish tax rates: EUR 1,000 2010 2009 Result before taxes 3,683 -51,419 Tax calculated using Finnish tax rate * -958 13,369 Foreign subsidiaries’ differing tax rates 129 -3,921 Tax-exempt income and non-deductible expenses -638 424 Tax from previous periods 17 -159 Tax expenses in profit and loss account -1,450 9,713 * As of 1 January 2005, the applicable tax rate in Finland is 26 per cent. German based entity Finnlines Deutschland GmbH belongs to the German tonnage taxation system. The adoption is binding until at least 31.12.2018. Current tax includes EUR 29 thousand (2009 EUR 56 thousand) of German tonnage tax. 22 FINNLINES PLC Financial Statements 2010 (figures in EUR thousand, if not stated otherwise)
13. EARNINGS PER SHARE UNDILUTED Undiluted earnings per share are calculated by dividing the result for the reporting period attributable to the parent company’s shareholders by the weighted average number of outstanding shares during the reporting period, minus the treasury shares purchased by the company. 2010 2009 Result for the reporting period attributable to parent company shareholders (EUR 1,000) 2,243 -41,637 Hybrid bond interest (EUR 1,000) -905 Weighted average no. of shares (1,000) * 46,821 44,385 Undiluted earnings per share (EUR/share) * 0.05 -0.96 * The earnings per share have been retroactively adjusted with the share issue adjustment factor. DILUTED Diluted earnings per share are calculated taking into account the diluting effect of the conversion into shares of all ordinary shares with diluting potential. The diluting effect was no longer generated in 2009 or 2010, because the company had no option schemes. 14. DIVIDENDS In 2010, as well as in 2009, EUR 0 was paid out as dividends (EUR 0.00 per share). The Board of Directors will propose to the Annual Shareholders’ Meeting that no dividend be paid out for 2010 due to the still uncertain financial business environment and the ongoing investment programme. However, the Board expects dividends to be paid from the financial year 2011 onwards on condition that there are no negative surprises in the Company’s business environment. (figures in EUR thousand, if not stated otherwise) FINNLINES PLC Financial Statements 2010 23
Page 1 and 2: FINANCIAL STATEMENTS 2010
Page 3 and 4: BOARD OF DIRECTORS’ REPORT THE CO
Page 5 and 6: elated to this. Other significant r
Page 7 and 8: CONSOLIDATED STATEMENT OF COMPREHEN
Page 9 and 10: CONSOLIDATED STATEMENT OF CHANGES I
Page 11 and 12: NOTES TO THE CONSOLIDATED FINANCIAL
Page 13 and 14: ated companies are consolidated usi
Page 15 and 16: egory includes assets held for trad
Page 17 and 18: In defined benefit plans, the emplo
Page 19 and 20: Segment assets, liabilities and inv
Page 21: 8. PERSONNEL EXPENSES EUR 1,000 201
Page 25 and 26: Assets leased through finance lease
Page 27 and 28: Main factors used in calculating va
Page 29 and 30: 21. DEFERRED TAX ASSETS AND LIABILI
Page 31 and 32: EUR 1,000 2010 2009 Significant ite
Page 33 and 34: 26. PROVISIONS EUR 1,000 2010 2009
Page 35 and 36: Finance lease liabilities Finance l
Page 37 and 38: 31. PENSION LIABILITIES The Group
Page 39 and 40: Hedge Accounting The Group has orde
Page 41 and 42: The Group had an interest rate swap
Page 43 and 44: COMMODITY RISK The Group is exposed
Page 45 and 46: with the Helsinki Court of Appeal a
Page 47 and 48: In April 2009, Finnlines Plc's subs
Page 49 and 50: Shares outstanding 31 December 2005
Page 51 and 52: CALCULATION OF KEY RATIOS, IFRS Ear
Page 53 and 54: PROFIT AND LOSS ACCOUNT, PARENT COM
Page 55 and 56: CASH FLOW STATEMENT, PARENT COMPANY
Page 57 and 58: NOTES TO THE FINANCIAL STATEMENTS,
Page 59 and 60: 8. EXTRAORDINARY ITEMS EUR 2010 200
Page 61 and 62: 14. INVENTORIES EUR 2010 2009 Bunke
Page 63 and 64: 18. ACCUMULATED APPROPRIATIONS EUR
Page 65 and 66: CONTINGENCIES AND COMMITMENTS EUR 1
Page 67 and 68: BOARD'S PROPOSAL FOR THE USE OF THE
Page 69 and 70: AUDITOR'S REPORT TO THE ANNUAL GENE

FINANCIAL STATEMENTS 2010 - Finnlines

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