Last update: 28.11.2020 00:37 (GMT+2)

Baltika: Commentary to financial results 05/99

22.06.1999, Baltika, TLN
AS BALTIKA
ANNOUNCEMENT
22.06.99

COMMENTARY TO FINANCIAL RESULTS 05/99

Unconsolidated and unaudited 5 months 1999 net sales of AS Baltika
amounted to 96.3 million EEK, which is 9.5 million EEK less than
during the respective period in 1998 (net sales 105.8 million EEK).
Compared to the results of the same period last year, sales volumes
on Russian and Ukrainian markets decreased by 14.2 million EEK (net
sales of 4.1 million EEK in 1999 and 18.3 million EEK in 1998),
whereas the sales in Latvia and Lithuania increased by 7.7 million
EEK (20.6 million EEK in 1999 and 12.9 million EEK in 1998,
respectively), and in Finland and Sweden by 4.9 million EEK (28.1
million EEK in 1999 and 23.2 million EEK in 1998, respectively).
Exports of products and services of AS Baltika in 1999 totaled 62.2
million EEK (64.6% of net turnover), and during the same period in
1998 70.5 million EEK (66.6% of net turnover).
In 5 months of 1999, the company earned operating profit of 4.4
million EEK (during same period in 1998 11.1 million EEK).
Unconsolidated and unaudited 5 months 1999 net profit figure of AS
Baltika amounted to 0.4 million EEK (during same period in 1998 7.7
million EEK). In 1999, AS Baltika has also been actively involved
in
marketing of products, which were originally produced in H2 1998
for
the Russian market; however, due to worsened economic climate, the
company was not able to realize them at the time. The
aforementioned
has had a direct influence on the company’s operating profit
(decrease in inventories from the beginning of the year 15.2
million
EEK).


Avo Reiska
Financial Director
t. +372 6 302 717

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