ASSETS

As at December 31,

2002

2003

(In millions)

EUR

EUR

Fixed assets and financial assets

Intangible Assets

Goodwill

-

-

Other intangible assets

2

3

2

3

Tangible assets

Land and water areas

2

2

Buildings

1

1

Machinery and equipment

1

1

Other tangible assets

0

0

Assets under construction

-

2

4

6

Financial assets

Shareholdings and other securities

1,251

1,602

Own shares

1

1

Loans receivable

345

780

Accounts receivable

-

-

Other long-term investments

8

5

1,605

2,388

Total fixed and financial assets

1,611

2,397

Current assets

Inventories

Materials and supplies

-

-

Work in process

-

-

Finished products

-

-

-

-

Receivables

Accounts receivable

6

5

Loans receivable

1,254

426

Accrued income and prepaid expenses

81

71

Other receivables

0

0

Other short-term investments

5

6

1,346

508

Cash and cash equivalents

2

6

Total current assets

1,348

514

Total assets

2,959

2,911

SHAREHOLDERS' EQUITY AND LIABILITIES

As at December 31,

2002

2003

(In millions)

EUR

EUR

Shareholders' equity

Share capital

232

232

Share premium reserve

88

88

Legal reserve

216

216

Reserve for own shares

1

1

Other reserves

202

202

Retained earnings

378

413

Net income for the financial year

117

1

Total shareholders' equity

1,234

1,153

Untaxed reserves

0

0

Liabilities

Long-term debt

Bonds

711

693

Loans from financial institutions

213

177

Pension loans

17

9

Other long-term debt

1

1

942

880

Other long-term liabilities

Accrued expenses

-

1

Current liabilities

Current portion of long-term debt

39

9

Other interest bearing short-term debt

703

777

Advances received

-

-

Accounts payable

5

7

Accrued expenses and deferred income

35

83

Other current liabilities

1

1

783

877

Total liabilities

1,725

1,758

Total shareholders' equity and liabilities

2,959

2,911