HÜVITUSFOND

COMMENTARY TO THE FINANCIAL RESULTS

17.09.99

 

 

COMMENTARY TO H1 1999 THE FINANCIAL RESULTS

 

The audited H1 1999 result of Hüvitusfond totaled 

68.9 million EEK, compared to 184.4 million EEK 

loss posted at the same time last year. After audit, 

the Fund's financial result for the period decreased 

due to correction of the subsidiaries' profit figures 

on equity method.

 

In H1 the Fund earned 85.3 million EEK of interest 

income, of which more than half was earned from 

investments in bonds. Interest expenses totaled 

23.2 million EEK, of which interest payments to 

bondholders accounted for the largest share. Hence 

the net interest result was 62.1 million EEK.

 

In H1 Hüvitusfond earned total of 69.3 million EEK 

income from investments, of which income from short-term 

investments accounted for the largest share (shares, 

short-term bonds, fund units). Investment-related expenses 

totaled 52.2 million EEK (respective last year's figure 

was 239 million EEK); net investment result amounted to 

17.1 million EEK.

 

The Fund's NAV increased in H1 by 241 million EEK, amounting 

to 961 million EEK at the end of period. 

The Fund received 214.2 million EEK of privatization revenues. 

The Fund issued bonds for total of 42.2 million EEK.

 

 

Jaanus Kosemaa

Public Relations Manager

Hüvitusfond

+372 66 51 800, 824, +372 51 04 614