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STOCK EXCHANGE RELEASE 13 Feb 2001

NOTICE CONCERNING ANNUAL ACCOUNTS FOR 2000

JAAKKO PÖYRY GROUP OYJ        Stock Exchange Notice
                              February 13, 2001 at 8.30 a.m.   1(19)

NOTICE CONCERNING ANNUAL ACCOUNTS FOR 2000

JAAKKO PÖYRY GROUP'S EARNINGS PER SHARE INCREASED BY 26 PER CENT

Jaakko Pöyry Group clearly exceeded its financial targets for 2000.

- Net sales for 2000 increased by 20.0 per cent to EUR 474.5
  (395.4 in the previous year) million.
- Profit after financial items increased by 19.3 per cent
amounting to EUR 30.1 (25.3) million.
- The Group's profit for the period increased by 28.2 per cent
and was EUR 19.2 (15.0) million.
- Earnings per share increased by 26.1 per cent and were 1.40
(1.11).
- The Board of Directors proposes dividend of EUR 0.60 (0.45),
an increase of 33.3 per cent.
- The return on investment improved by 2.5 percentage points
to 25.1 (22.6) per cent.
- The net debt/equity ratio (gearing) was -2.5 (13.5) per
cent.
- The equity ratio was 42.2 (36.3) per cent.

All business groups recorded increased net sales compared with the
previous year. Operating profit increased in the Forest Industry
Consulting and Infrastructure & Environment business groups.

Prospects

Taking into account the market situation, the prospects of the
business groups, and the order stock, the Jaakko Pöyry Group has a
solid platform for year 2001. The Group is in a good position to
reach the financial targets defined in its strategy.

The prospects for the business groups are described in the enclosed
Board of Directors' report.

The Auditors' Report is dated February 12, 2001.

Dividend

The Board of Directors of Jaakko Pöyry Group Oyj proposes to the
Annual General Meeting that a dividend of EUR 0.60 be paid per share
for the financial year ended December 31, 2000. The dividend is
payable on March 20, 2001.

Annual General Meeting

Jaakko Pöyry Group Oyj's Annual General Meeting of shareholders will
be held on March 8, 2001 at the Pöyry House, Vantaa, Finland.

A complete invitation to the Annual General Meeting will be published
as a separate notice on February 13, 2001.



                                                               2(19)

Enclosures

Board of Directors' report for the year ended December 31, 2000
Consolidated statement of income and balance sheet and contingent
liabilities
Key figures for the Group

JAAKKO PÖYRY GROUP OYJ



Erkki Pehu-Lehtonen        Teuvo Salminen


For additional information, please contact:
Mr. Erkki Pehu-Lehtonen, President and CEO, Jaakko Pöyry Group Oyj
tel. +358 9 8947 2999, +358 400 468 084
Mr. Teuvo Salminen, Executive Vice President, Jaakko Pöyry Group Oyj
tel. +358 9 8947 2872, +358 400 420 285
Ms Satu Lyytinen, Investor Relations, Jaakko Pöyry Group Oyj
tel. +358 9 8947 3002, +358 40 526 3388

www.poyry.com

DISTRIBUTION
Helsinki Exchanges
Major media




























                                                               3(19)

JAAKKO PÖYRY GROUP OYJ

BOARD OF DIRECTORS' REPORT

January 1 - December 31, 2000

Consolidated Earnings and Balance Sheet

The operations and earnings of the Jaakko Pöyry Group developed
favourably during the year under review and budgeted targets were
clearly exceeded. Consolidated net sales increased by 20.0 per cent
to EUR 474.5 (the previous year's figure 395.4) million. Operating
profit amounted to EUR 31.8 (27.2) million, which equals 6.7 (6.9)
per cent of net sales. The operating profit includes EUR 4.0 (3.7)
million depreciation on consolidation goodwill. Profit after
financial items was EUR 30.1 (25.3) million. The Group's profit for
the year was EUR 19.2 (15.0) million and earnings per share EUR 1.40
(1.11).

The consolidated balance sheet total was EUR 310.3 (304.0) million.
Shareholders' equity was EUR 97.4 (87.6) million. The equity ratio
was 42.2 (36.5) per cent. The Group's liquidity remained good. At the
end of the year, the Group's cash in hand and at banks amounted to
EUR 37.5 (30.7) million. The interest-bearing debts totalled EUR 34.9
(42.4) million. The net debt/equity ratio (gearing) was -2.5 (13.5)
per cent.

The Jaakko Pöyry Group clearly exceeded its financial targets for
2000. Earnings per share increased by 26.1 (24.7) per cent, the
target being 15.0 per cent growth. The target for the Group's return
on investment is 20.0 per cent; in 2000 the return on investment was
25.1 (22.6) per cent.

Business Groups

Forest Industry

The Forest Industry business group is a world leading provider of
EPCM (Engineering, Procurement, Construction Management) services for
forest industry investment projects. Services are divided into three
main areas of expertise: new projects, rebuilds and maintenance
engineering services. The business group's services cover all phases
of a forest industry project, from preliminary engineering to
implementation, including also operations management and maintenance
services.

Net sales for the financial year were EUR 140.8 (119.6) million, and
operating profit EUR 12.7 (13.5) million, which equals 9.0 (11.3) per
cent of net sales. The profitability was satisfactory. The order
stock at the end of the year was EUR 71.8 (70.5) million.

The business group's earnings were affected by the predicted poor
results of some engineering projects, especially in the second and
third quarters of the financial year.
                                                               4(19)

Forest Industry Consulting

The Forest Industry Consulting business group is one of the world's
leading advisers to the forest industry cluster and a pioneer in
developing new solutions. The business group offers world-class
consulting services designed to enhance client companies'
profitability. It has special expertise in strategic consulting and
in mergers and acquisitions.

Net sales for the financial year were EUR 53.0 (39.2) million, and
operating profit EUR 4.8 (1.5) million, which equals 9.1 (3.8) per
cent of net sales. The profitability was clearly better than in the
previous year. The order stock at the end of the year was EUR 25.6
(21.2) million.

Assignments related to mergers and acquisitions boosted the business
group's earnings, especially in the second quarter of the financial
year. No lump-sum consulting fees related to mergers and acquisitions
were booked in the final quarter. The business group's earnings were
depressed by cost overruns in long-term developing-country projects
incurred in the final quarter of the year.

Energy

The Energy business group is an international expert in the energy
sector, combining technology, economy and environmental protection to
offer clients a comprehensive range of services. The business group's
services include all phases of energy projects, from strategic
planning and project development to project planning and
implementation. Its special expertise covers hydropower, bioenergy,
combined heat and power generation, district heat and waste to
energy.

Net sales for the financial year were EUR 180.9 (139.7) million, and
operating profit EUR 8.1 (9.2) million, which equals 4.5 (6.6) per
cent of net sales. The profitability was satisfactory. The order
stock at the end of the year was EUR 111.6 (165.4) million.

The business group's earnings were affected by cost overruns in the
former Process Industry business group, which was merged with the
Energy business group at the beginning of 2000, and by costs of
integrating the two groups' business operations.

Infrastructure & Environment

The Infrastructure & Environment business group offers technological
expertise related to traffic systems, water and environmental
projects, telecommunications and project implementation services.
Services consist of consulting and development work, engineering and
project management services, and operating and maintenance services.

Net sales for the financial year were EUR 102.7 (97.3) million, and
operating profit EUR 8.6 (7.6) million, which equals 8.4 (7.8) per

                                                               5(19)

cent of net sales. The profitability was good. The order stock at the
end of the year was EUR 96.5 (91.8) million.

The business groups' results include general and administrative
parent company expenses in proportion to personnel expenses in the
business groups.

Group Structure

The parent company of the Jaakko Pöyry Group is Jaakko Pöyry Group
Oyj.

The Jaakko Pöyry Group has three core areas of business
expertise: forest industry, energy, and infrastructure and
environment.

The Group's operations are conducted through four business groups:
Forest Industry, Forest Industry Consulting, Energy, and
Infrastructure & Environment.

The Jaakko Pöyry Group's clients are globalising and consolidating
their operations in many areas of the world. The Group assists its
clients in this consolidation process through its global network of
offices by serving as an adviser and project implementation
specialist. The Jaakko Pöyry Group's local network of offices offers
clients a good alternative for outsourcing their internal engineering
services. The Jaakko Pöyry Group is actively striving to expand its
office network with the aim of serving its clients locally. The Group
also intends to expand its technology and know-how base by acquiring
technology leaders within its main business sectors. These companies'
expertise can also be efficiently marketed via the Group's global
network of offices.

The Group intensified its efforts to develop new business activities
during the year 2000. Investments were focused on commercialisation
of various computer applications and product innovations related to
the Group's IT-based products. Such special investments amounted to
about EUR 0.8 million during the period under review.

In January 2001, Jaakko Pöyry Group Oyj and Elisa Communications Oyj
jointly established Inforbis Oy, holding 70 per cent and 30 per cent,
respectively, of the new company's shares. The company offers sector-
specific web-based service concepts, which incorporate tools for
storing, distributing, processing and managing information. Inforbis
Oy aims to achieve net sales of EUR 3.5 million in Finland by 2003
and is planning to expand its operations to the other Nordic
countries and Europe.

Forest Industry

In response to the continued globalisation of the forest products
industry, the Forest Industry business group's local office network


                                                               6(19)

will be expanded further in North America and Continental Western
Europe.

Forest Industry Consulting

At the beginning of the financial year, Jaakko Pöyry Consulting Oy
incorporated its management consulting unit in Finland into a
separate company named JP Management Consulting (Europe) Oy. The
development consulting business is conducted by JP Development Oy.

There are plans to reinforce the business group's market position in
North America and the Far East.

Energy

Through a reorganisation effective from the beginning of the year
2000, the former Process Industry business group was merged with the
Energy business group. And the activities of the French engineering
company Beture-Environnement S.A., acquired in December 1999, have
been integrated into the Energy business group.

Electrowatt-Ekono Oy has acquired a 60.0 per cent interest in the
Polish company JES Energy Electrowatt Ekono Sp. z o.o.  The purpose
of the acquisition is to expand the business group's local expertise
in Eastern Europe.

The business group is also planning to expand its operations in
Europe and Asia.

Infrastructure & Environment

The activities of the French engineering company Beture-Cerec S.A.,
acquired in December 1999, have been integrated into the
Infrastructure & Environment business group.

In June 2000, Jaakko Pöyry Group Oyj subscribed, in a targeted share
issue, 30.0 per cent of the shares in EPStar Oy (earlier Star
Communications Oy), a company specialising in consulting services and
network planning for the telecommunications sector. At the same time,
Jaakko Pöyry Group Oyj redirected the strategy of its Infrastructure
& Environment business group, selecting the telecommunications sector
as one of the business group's main growth areas. EPStar Oy is
intended to supplement Jaakko Pöyry Group's service package in the
areas of network planning and network integration. Jaakko Pöyry Group
aims to expand its telecommunications business within the next few
years and to offer turn-key deliveries of telecommunications networks
to operators and equipment suppliers. For project implementation
services Jaakko Pöyry Group will rely on the resources of its global
network of offices in 34 countries and the Group's experience of
project implementation in more than 100 countries. The Jaakko Pöyry
Group's net sales to clients in the telecommunications sector
amounted to about EUR 10 million in the year 2000. The Group's aim is
to double the volume of this business during 2001 and 2002.

                                                               7(19)

The Jaakko Pöyry Group has acquired the Asian bridge and construction
management business of VCE - Vienna Consulting Engineers, Austria.
The acquired bridge business employs about 20 international and local
experts with know-how in design, monitoring and construction
management related to bridges and viaducts, including special
expertise in cable-stayed bridges. The company's office is situated
in Taipei, Taiwan. Its net sales amounted to about EUR 2 million in
1999.

The Jaakko Pöyry Group has divested its 60.0 per cent shareholding in
Jaakko Pöyry Argentina S.A. The company employed 30 people.

There are plans to expand the business group's office network,
especially in Eastern Europe and the Far East.

Order Stock

The Group's order stock has remained good. The order stock totalled
EUR 305.5 million at the end of the year, compared with EUR 348.9
million in 1999. The order stocks of the consulting and engineering
businesses remained stable and the order stock in hours for the
following twelve months was about ten per cent higher than at the end
of September 2000. The decline was primarily caused by a decrease in
the order stock for turn-key projects. One of the Group's strategic
objectives is to improve its relative profitability and to raise its
operating profit to more than 8.0 per cent. Because of the nature of
the turn-key project business, its profitability is generally lower
than that of the consulting and engineering businesses. For this
reason, the Group does not intend to increase the share of turn-key
projects of net sales, the aim being to boost the average
profitability of projects.

A growing share of the Group's order stock is derived from consulting
services and from repeat orders related to operating management and
maintenance engineering. These short-term assignments are partly
booked as net sales without being recorded in the order stock.

Research and Development

The Jaakko Pöyry Group's research and development co-operation

committee consists of representatives of the business groups, IT
staff and the company's management. Its main objectives are to
promote internal R&D, to assist in obtaining supplementary financing
and in engaging clients in development processes, and to keep the
Group's focus on its strategic objectives.

The Jaakko Pöyry Group's research and development activities are
characterised by the rapid application of research findings into
practice. Many important improvements originate from a single
person's vision, and the technological revolution has shortened the
time lag from idea to product.

The Jaakko Pöyry Group is engaged in hundreds of research and
development projects each year, relying on the expertise, experience
and innovativeness of the company's employees. Within the business
groups, research and development efforts are conducted in partnership
with clients and research institutions, often in an interdisciplinary
manner, making use of technical and technological expertise to
improve the competitiveness of the Group and its clients.

                                                               8(19)

The incomes and expenses due to research and development are part of
the Group's client work and therefore they cannot be defined in exact
monetary terms. The incomes and expenses have been taken into account
in the statement of income for the financial year.

Capital Expenditure

The Group's capital expenditure totalled EUR 11.2 (27.4) million. Of
the capital expenditure EUR 9.9 (7.9) million consisted mostly of
computer software, systems and hardware.

The associated company (50 %) SCI Le Pecq sold its office building in
France and the company has been liquidated. The Group's share of the
sales price was EUR 5.3 million. The sale had no effect on the
Group's result.

Financing

The Group's liquidity remained good during the financial year. At the
end of the year, the Group's cash in hand and at banks totalled EUR
37.5 (30.7) million and interest-bearing liabilities EUR 34.9 (42.4)
million, so cash in hand and at banks exceeded interest-bearing debts
by EUR 2.6 million (in 1999 net debts were EUR -11.7) million. At the
end of the year the Group had unutilised credit facilities of EUR
30.0 million. The net debt/equity ratio (gearing) at the end of the
year was -2.5 (13.5) per cent.

Taxes

In its decision dated November 23, 2000, the Tax Office for Major
Corporations concluded that the Jaakko Pöyry Group's Swiss subsidiary
Electrowatt Engineering AG is not subject to the Controlled Foreign
Company -legislation (CFC-legislation). As a result of this decision,
the Group's taxation will be reduced by about EUR 1.5 million
annually during the period 2000-2002. The tax agent in the Tax Office
for Major Corporations has filed a complaint concerning the decision.
The final verdict in this matter is expected in 2002.

Swedish Staff Pension Society (SPP) surplus

The consolidated operating profit includes the in 2000 refunded
surplus, EUR 1.3 million, by the Swedish Staff Pension Society, SPP.
The remaining amount, not yet refunded, is EUR 5.0 million. The net
present value of this EUR 5.0 million is EUR 3.1 million.

Share Capital and Shares

Jaakko Pöyry Group Oyj's Annual General Meeting on March 8, 2000
approved the Board of Directors' proposal to cancel 597 200 of the
company's own shares and to reduce the company's share capital from
EUR 11 998 094,43 to EUR 11 495 885,28. The Annual General Meeting
approved the Board of Directors' proposal to convert the company's
share capital into euros and to raise it to EUR 13 670 286 through a
bonus issue by transferring EUR 2 174 400,72 from the legal reserve
to the share capital. After the increase, the accounting par value of
the company's shares is EUR 1.00, with the number of shares totalling
13 670 286. In July 53 850 shares have been subscribed. Following
these subscriptions, the total number of shares amounts to 13 724
136. In addition 150 shares, which are not yet registered, were
subscribed in October.
                                                               9(19)

The company's shares are quoted on the Helsinki Exchanges. The
company's share was delisted from the Stockholm Exchanges. The last
trading date was May 31, 2000.

Authorisation to Issue New Shares

The Annual General Meeting on March 8, 2000 authorised the Board of
Directors to raise the share capital by a new issue or by taking a
convertible loan or by issuing option rights, so that based on the
new issue, the convertible bonds and option rights, the share capital
can be raised by a maximum of EUR 1.0 million by issuing for
subscription a maximum of 1.0 million new shares. The authorisation
is in force until March 8, 2001.

The Company's Own Shares

The Annual General Meeting on March 8, 2000 authorised the Board of
Directors to acquire and convey the company's own shares to a maximum
of 5.0 per cent of the company's share capital. The Board of
Directors decided on May 3, 2000 to exercise the authorisations. The
authorisations are in force until March 8, 2001.

Bond Loan with Warrants

In 1998, Jaakko Pöyry Group Oyj issued a bond loan with warrants to
all employees in the Group, with a total value of EUR 2 186 443. The
bonds with warrants were wholly subscribed. The warrants carry
subscription rights for a maximum of 1.3 million of the company's
shares, with the subscription period beginning partly (390 000
shares) on April 1, 2000 and ending for all warrants on April 30,
2005. 54 000 shares were subscribed in 2000.

Dividend Policy

The dividend distributed by Jaakko Pöyry Group Oyj is dependent on
the company's earnings and investment requirements. The objective is
to increase the dividend per share from year to year, and to ensure
that at least 40.0 per cent, or more, of earnings are distributed
each year. Should the company have a need to expand its technology
base by investing in acquisitions, or to expand its office network,
the dividend-to-earnings ratio may be changed.

Board of Directors' Proposal

The Board of Directors proposes to the Annual General Meeting on
March 8, 2001 that a dividend of EUR 0.60 per share be paid,
totalling EUR 8.2 million. The proposed dividend corresponds to 42.8
per cent of the earnings per share for the financial year. The
dividend paid per share increases by EUR 0.15 (33.3 per cent).

Board of Directors, President and Auditors

Members of the Board of Directors of Jaakko Pöyry Group Oyj elected
in the annual general meeting on March 8, 2000 are Mr. Heikki
Lehtonen (Chairman), Mr. Henrik Ehrnrooth, (Vice Chairman), Mr.
                                                               10(19)

Jaakko Pöyry, (Vice Chairman), Mr. Olle Alsholm, Mr. Matti Lehti, Mr.
Niilo Pellonmaa and Mr. David de Pury (deceased in December, 2000).

Mr. Erkki Pehu-Lehtonen, M.Sc.(Eng.) is President and CEO of Jaakko
Pöyry Group Oyj and Mr. Teuvo Salminen, M.Sc. (Econ.), Executive Vice
President and Deputy of the President and CEO.

Auditors have been KPMG Wideri Oy Ab, Authorised Public Accountants,
with Mr Albrecht Hagert, Authorised Public Accountant, as responsible
auditor.

Future Prospects

Economic growth weakened notably in North America towards the end of
the year 2000. The region's economy is being revitalised by means of
interest rate cuts and probably also tax relief measures. Projections
of world economic growth have also been revised downwards. About 5-6
per cent of the Jaakko Pöyry Group's net sales is derived from its
North American operations, so the economic downturn in this region
will not have a direct impact on the Group's earnings in 2001. Group
companies operating in the region also have solid order stocks.
Market prospects have remained good in Europe, the Jaakko Pöyry
Group's main market area. The Group's order stock is also good in
Europe.

General prospects in the forest products industry are favourable.
Pulp and paper prices have remained healthy and forest products
companies' liquidity is excellent. The order stock of the Jaakko
Pöyry Group's Forest Industry business group has grown in the final
quarter of the year 2000 and numerous rebuilds and new projects are
under development. Taking into account the investment activity and
the Jaakko Pöyry Group's strong position in maintenance engineering,
there are good prospects for further improving the business group's
relative profitability and earnings in 2001.

The forest industry's consolidation and globalisation are continuing.
This creates new business opportunities for the management
consultants in the Jaakko Pöyry Group's Forest Industry Consulting
business group and for JP Capital International Ltd, the business
group's investment banking arm.

The energy market is being liberalised and internationalised. Because
of the growing competition in the energy market and ever-tightening
environmental regulations, power companies must improve their
efficiency and competitiveness. This will boost demand for the
technologies mastered by the Jaakko Pöyry Group's Energy business
group. In Europe, a surplus of electricity is putting a brake on
investment activity, shifting the emphasis in investments to Asia and
the Middle East. The relative profitability of turn-key projects is
weaker than that of consulting and engineering projects. For this
reason, the Energy business group does not intend to expand the share
of turn-key projects of its total net sales.


                                                               11(19)

Growth prospects in the Jaakko Pöyry Group's Infrastructure &
Environment business group's international business sectors - traffic
systems, water and environment, and telecommunications - are
promising. The business group's services in all of these sectors are
aimed at improving the state of the environment and preventing
further pollution. The telecommunications sector is enjoying
particularly good growth throughout the world. The business group has
invested in developing its telecommunications business during the
year 2000, and is now well equipped to improve its position in this
field of activity.

Taking into account the market situation described in the foregoing,
the prospects of the business groups, and the order stock, the Jaakko
Pöyry Group has a solid platform for year 2001. The Group is in a
good position to reach the financial targets defined in its strategy.


JAAKKO PÖYRY GROUP                                         12(19)

STATEMENT OF INCOME
                                             2000            1999
EUR million

NET SALES                                   474,5           395,4

Other operating income                        2,2             5,1

Share of associated companies' results
results                                -     0,1       +     0,7

Depreciation and value decrease        -    13,1       -    13,2
Operating expenses                     -   431,7       -   360,8

OPERATING PROFIT                             31,8            27,2
Proportion of net sales, %                    6,7             6,9

Financial income and expenses          -     1,7       -     1,9

PROFIT AFTER FINANCIAL ITEMS                 30,1            25,3

Extraordinary items                           0,0             0,0

PROFIT BEFORE APPROPRIATIONS,
TAXES AND MINORITY INTEREST                  30,1            25,3

Income taxes                           -     9,0       -     8,9
Minority interest                      -     1,9       -     1,4

NET PROFIT FOR THE PERIOD                    19,2            15,0


BALANCE SHEET                                              13(19)
EUR million                                  2000            1999

FIXED ASSETS
Intangible assets                             6,6             5,3
Consolidation goodwill                       35,8            40,0
Tangible assets                              32,7            33,3
Non-current investments                      13,4            17,6
Total                                        88,5            96,2

CURRENT ASSETS
Non-current receivables                       3,9            10,6
Current receivables                         180,4           161,0
Own shares                                    0,0             5,5
Investments, cash in hand and at banks      37,5            30,7
Total                                       221,8           207,8

                                            310,3           304,0

SHAREHOLDERS' EQUITY AND LIABILITIES

SHAREHOLDERS' EQUITY
Share capital                                13,7            12,0
Share premium reserve                        21,1            20,1
Own shares' reserve                           0,0             5,5
Legal reserve                                18,1            20,6
Retained earnings                            25,3            14,4
Net profit for the period                    19,2            15,0
                                             97,4            87,6

MINORITY INTEREST                             5,2             4,9

LIABILITIES
Non-current liabilities                      22,4            32,6
Current liabilities                         185,3           178,9
Total                                       207,7           211,5

                                            310,3           304,0

*) Interest bearing liabilities              34,9            42,4
   Non-interest bearing liabilities        172,8           169,1


                                                                 14(19)
PROFITABILITY AND OTHER KEY FIGURES         2000            1999


Return on investment, %                      25,1            22,6

Return on equity, %                          22,3            20,7

Equity ratio, %                              42,2            36,5

Equity/Assets ratio, %                       33,0            29,1

Net debt/Equity ratio (gearing), %          -2,5            13,5

Current ratio                                 1,2             1,1

Order stock, EUR million                    305,5           348,9

Capital expenditure, operating
EUR million                                   9,9            11,1
Proportion of net sales, %                    2,5             2,8

Capital expenditure, EUR million              1,3            16,3
Proportion of net sales, %                    0,3             4,1

Personnel in group companies
in average                                  4 558           4 222

Personnel in associated companies
in average                                    159             239

Personnel in group companies
at year-end                                 4 572           4 472

Personnel in associated companies
at year-end                                   174             146


                                                                  15(19)
KEY FIGURES FOR THE SHARES                   2000            1999


Earnings/share, EUR                          1,40            1,11

Shareholders' equity/share, EUR              7,10            6,00

Dividend, EUR million                         8,2             6,2

Dividend/share, EUR                          0,60            0,45

Dividend/earnings, %                         42,8            40,5

Effective return on dividend, %               3,3             3,1

Price/earnings multiple                      12,8            13,1

Issue-adjusted trading prices, EUR
Average trading price                       18,64           10,18
Highest trading price                       24,00           16,80
Lowest trading price                        15,00            7,70
Closing price at year-end                   18,00           14,50

Total market value of shares,
outstanding shares, EUR million             247,0           198,2
own shares, EUR million                                       8,7

Trading volume of shares
Shares, 1 000 pcs                           2 385          11 747
Proportion of the total volume, %            17,4            83,4

Issue-adjusted number of outstanding shares, 1 000 pcs
In average                                 13 692          13 492
At year-end                                13 724          13 670

1) Board of Directors' proposal



                                                                  16(19)
CONTINGENT LIABILITIES                       2000            1999

EUR million

For own debt
Pledged assets and corresponding loans
Pension loans                                 1,4             2,7
Pledged assets                                2,3             2,3

Mortgages and corresponding loans
Loans from credit institutions                1,1             1,2
Mortgages, real estate                        1,1             1,2
Mortgages on company assets
Pension loans                                 3,7             7,4
Mortgages real estate
Mortgages on company assets                   6,1             6,3

Pledged assets and corresponding loans       6,2            11,3
total

Pledged assets and mortgages for own debts
Pledged assets                                2,3             2,3
Mortgages, real estate                        1,1             1,2
Mortgages on company assets                   6,1             6,3
Total                                         9,5             9,8

Other obligations
Pledged assets                                2,6             2,6
Mortgages, real estate                        1,4             2,2
Rent and leasing obligations                 63,5            61,7
Pension obligations                           0,4             0,4
Other obligations                            28,7            35,8
Total                                        96,6           102,7

For others
Pledged assets                                2,5             3,4
Mortgages, real estate                        3,8             3,8
Total                                         6,3             7,2

Total
Pledged assets                                7,4             8,3
Mortgages, real estate                        6,3             7,2
Mortgages on company assets                   6,1             6,3
Rent and leasing obligations                 63,5            61,7
Pension obligations                           0,4             0,4
Other obligations                            28,7            35,8

KEY FIGURES FOR THE BUSINESS GROUPS                             17(19)
EUR million                                 2000            1999

NET SALES
Forest Industry                            140,8           119,6
Forest Industry Consulting                  53,0            39,2
Energy                                     180,9           139,7
Infrastructure & Environment               102,7            97,3
Other                                       -2,9            -0,4
Total                                      474,5           395,4

OPERATING PROFIT
EUR million, proportion of net sales %      EUR      %      EUR      %

Forest Industry                             12,7    9,0     13,5   11,3
Forest Industry Consulting                   4,8    9,1      1,5    3,8
Energy                                       8,1    4,5      9,2    6,6
Infrastructure & Environment                 8,6    8,4      7,6    7,8
Other                                       -2,4            -4,6
Total                                       31,8    6,7     27,2    6,9

ORDER STOCK
Forest Industry                             71,8            70,5
Forest Industry Consulting                  25,6            21,2
Energy                                     111,6           165,4
Infrastructure & Environment                96,5            91,8
Total                                      305,5           348,9

NET SALES BY AREA
The Nordic countries                       149,0            92,8
Other Europe                               177,7           178,9
Asia                                        86,8            69,7
North America                               26,9            22,8
South America                               20,0            19,4
Other                                       14,1            11,8
Total                                      474,5           395,4

PERSONNEL
Forest Industry                            1 745           1 665
Forest Industry Consulting                   316             299
Energy                                     1 321           1 277
Infrastructure & Environment               1 162           1 198
Other                                         28              33
Total December 31                          4 572           4 472



KEY FIGURES FOR BUSINESS GROUPS   1-3/00 4-6/00 7-9/00 10-12/00 18(19)
EUR million

NET SALES
Forest Industry                     36,2   37,2   35,7     31,7
Forest Industry Consulting          11,8   15,3   12,6     13,3
Energy                              40,4   48,3   45,2     47,0
Infrastructure & Environment        25,9   23,0   24,9     28,9
Other                                0,4    0,4    0,2     -3,9
Total                              114,7  124,2  118,6    117,0

OPERATING PROFIT
Forest Industry                      3,7    1,9    2,9      4,2
Forest Industry Consulting           0,5    2,9    1,2      0,2
Energy                               2,4    2,3    1,0      2,4
Infrastructure & Environment         2,1    1,0    2,8      2,7
Other                               -1,6   -0,5    0,4     -0,7
Total                                7,1    7,6    8,3      8,8

ORDER STOCK
Forest Industry                     76,7   70,7   66,0     71,8
Forest Industry Consulting          23,2   22,2   25,1     25,6
Energy                             167,8  163,7  137,0    111,6
Infrastructure & Environment        89,9   94,2   97,8     96,5
Total                              357,6  350,8  325,9    305,5


KEY FIGURES FOR BUSINESS GROUPS                                     19(19)
EUR million                       1-3/99 4-6/99 7-9/99 10-12/99

NET SALES
Forest Industry                     30,6   30,0   24,9     34,1
Forest Industry Consulting           9,6   10,0    9,3     10,3
Energy                              30,9   33,7   29,7     45,4
Infrastructure & Environment        22,8   23,6   22,4     28,5
Other                                0,4   -0,1   -0,1     -0,6
Total                               94,3   97,2   86,2    117,7

OPERATING PROFIT
Forest Industry                      3,6    3,1    2,9      3,9
Forest Industry Consulting           0,2    0,0    0,3      1,0
Energy                               1,3    2,1    1,5      4,3
Infrastructure & Environment         1,6    2,1    2,1      1,8
Other                               -1,0   -0,8   -0,6     -2,2
Total                                5,7    6,5    6,2      8,8

ORDER STOCK
Forest Industry                     55,3   54,2   76,4     70,5
Forest Industry Consulting          23,1   22,4   19,8     21,2
Energy                             173,5  178,6  176,1    165,4
Infrastructure & Environment        94,2   95,1   91,9     91,8
Total                              346,1  350,3  364,2    348,9