Credit

Key Financial Credit Indicators

Profitability

2012

2011

2010

2009

 2008

Return on equity (ROE), %

6.3

6.6

9.9

10.2

4.4

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

4.9

2.6

4.6

2.5

13.1

Financing and financial position

2012

2011

2010

2009

 2008

Interest-bearing net debt, MEUR

1,935

2,080

1,801

1,918

1,004

Gearing, %

75.1

84.3

74.3

86.3

46.1

Leverage ratio, %

42.9

45.7

42.6

46.3

31.5

Equity-to-assets ratio, %

35.0

34.0

36.5

39.1

46.3

Net cash generated from operating  activities, MEUR

468

197

1,105

177

512