Credit

Key Financial Credit Indicators

Profitability

2009

 2008      2007 2006 2005

Return on equity (ROE), %

10.2

4.4 25.6

34.3

51.3

Return on average capital employed, after tax (ROACE), %

2.5

13.1

15.5

15.4

19.7

Financing and financial position

2009

 2008 2007 2006 2005

Interest-bearing net debt, MEUR

1,918

1,004 755 722 796

Gearing, %

86.3

46.1

31.1

34.4

49.4

Leverage ratio, %

46.3

31.5 23.7 25.6 33.0

Equity-to-assets ratio, %

39.1

46.3

49.9

48.4

42.4

Net cash generated from operating  activities, MEUR

177

512 541 512 596