Page 20 in Paf - 2005

ECONOMY Continued strong economic growth In 2005, turnover for the parent company, Ålands Penningautomatförening, grew by 34 percent to 47.3 million euros. In 2004, turnover was 35.3 million euros. Turnover for the Internet-based games grew by 95 percent, from 12.6 million euros in 2004 to 24.5 million euros in 2005. For traditional casino activities on Åland and on board Ålandic/Finnish ships, turnover remained unchanged for the most part and totaled 22.7 million euros. In February of 2006, it was announced that the ship Birka Princess would be sold, which is expected to have a moderate but negative effect on the total results for 2006. Floating profits for Ålands Penningautomatförening imfi proved by 77 percent, from 10.6 million euros in 2004 to 18.8 million euros in 2005. The year's profits increased fi by 64 percent, from 10.6 million euros to 17.3 million euros. In 2005, PAF paid 4.1 million euros in lottery taxes to the state. Lottery taxes are returned to the province and the total revenues for PAF's business activities amount to 21.4 million euros for 2005, compared with 13.6 million euros in 2004. Among the extraordinary costs, a deduction is reserved for a shareholder allowance of 1.7 million euros for the PAF Sverige AB subsidiary. PAF Sverige AB operates Internet-based lottery and bingo gaming with a license from the National Gaming Board of Sweden. Owner fifi nancing of gaming services in Sweden is part of PAF's long-term investment in the supply of Internet-based gaming on an international level. ÅLANDS PENNINGAUTOMATFÖRENING PARENT COMPANY PROFIT AND LOSS STATEMENT Sales Other operating income Material and services Personnel costs Depreciation Other operating costs OPERATING PROFIT Financial income and costs RESULT BEFORE EXTRAORDINARY ITEMS Extraordinary items RESULT BEFORE APPROPRIATIONS AND TAX Appropriations PROFIT FROM THE ACCOUNTING PERIOD 1000 2002 30 082 457 -13 864 -5 023 -2 842 -4 612 4 198 597 4 795 0 4 795 -1 020 3 775 31.12.02 2003 31 974 153 -13 510 -5 020 -2 678 -4 218 6 700 238 6 938 -101 6 837 -36 6 801 31.12.03 2004 35 334 178 -12 434 -5 148 -2 194 -5 105 10 631 514 11 144 -532 10 613 -45 10 568 31.12.04 2005 47 337 451 -13 806 -5 586 -2 708 -6 858 18 832 187 19 018 -1 660 17 359 -9 17 350 31.12.05 BALANCE SHEET ASSETS Intangible assets Tangible assets Investments Current assets Long-term receivables Short-term receivables Cash and bank deposits TOTAL ASSETS LIABILITIES Equity capital Accumulated appropriations Short-term loan capital TOTAL LIABILITIES 9 299 1 066 22 6 688 3 355 4 391 24 821 -21 651 -572 -2 598 -24 821 123 532 7 768 1 684 22 5 536 4 615 7 352 27 508 -24 370 -607 -2 530 -27 508 114 1 503 7 620 3 561 61 5 958 5 738 9 072 33 514 -28 503 -652 -4 359 -33 514 120 2 118 6 805 3 565 26 5 986 11 343 14 569 44 411 -39 413 -661 -4 337 -44 411 127 Average number of employees (incl. personnel onboard ships employed by shipping companies) 40 RELIABLE LEADING GENEROUS

Page 19 - PUBLIC WELFARE Rescue boat PAF saves lives CARRIES OUT SOME 60 RESCUE ASSIGNMENTS   Page 21 - PARENT COMPANY TURNOVER 1000 70 000 60 000 50 000 40 000 30 000 20 000 10 000 0  
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