Adjustments

2005 adjusted figures for EBIT, EBITA and Pre tax profit exclude the non-recurring item following the reversal of the finnish pension liability (Euro 70m)

2006 adjusted figures for EBIT, EBITA and Pre tax profit exclude the non-recurring item following the reversal of the finnish pension liability (Euro 5m)

2005 adjusted EPS figures exclude the non-recurring item following the reversal of the finnish pension liability (Euro 57m)

2006 adjusted EPS figures exclude the non-recurring items following the recognized non-recurring deferred tax asset (Euro 87m) and the reversal of the finnish pension liability (Euro 4m)

Calculation of key figures

Per Share Data in Euro

EPS:

Earnings per share as reported

EPS *:

Earnings per share before non-recurring items

BVPS:

Equity attributable to shareholders / number of shares at the end of period

DPS:

Dividend per share

Valuation

Historical ratios are based on stock price at end of period; future ratios are based on latest value

EV/Sales:

(Market capitalisation + net debt + minorities)/ sales

EV/EBITA *:

(Market capitalisation + net debt + minorities)/ (earnings before Interest taxes, amortisation and non-recurring items)

EV/EBIT *:

(Market capitalisation + net debt + minorities)/ (earnings before interest, taxes and before non-recurring items)

P/E:

Share price / earnings per share

P/E *:

Share price / earnings per share before non-recurring items

P/BV:

Share price / book value

Dividend Yield:

Dividend per share / Share price

Payout Ratio:

Dividend per share / earnings per share

Profitability

EBITA-Margin *:

(Earnings before Interest taxes, amortisation and before non-recurring items) / sales

EBIT-Margin *:

(Earnings before interest, taxes and before non-recurring items) / sales

Pretax-Margin *:

(Pre tax profit before non-recurring items) / sales

Netmargin *:

Profit attributable for the shareholders before non-recurring items / sales

ROE:

Profit attributable for shareholders / average equity attributable to shareholders employed during period

ROE *:

Profit attributable for shareholders before non-recurring items / average total equity employed during period

Growth Rate in %

2005, 2006 and 2007 figures are year on year growth rates. 2008 figures are the compound annual growth rates for the time period 2006 to 2008.

EBITA *:

Year on year growth rate, earnings before interest taxes, amortisation and before non-recurring items

EBIT *:

Year on year growth rate, earnings before interest, taxes and before non-recurring items

Pre tax profit *:

Year on year growth rate, pre tax profit before non-recurring items

Net profit *:

Year on year growth rate, profit attributable for the shareholders before non-recurring items / sales

EPS *:

Year on year growth rate, earnings per share before non-recurring items

DPS:

Year on year growth rate, dividend per share