AS KALEV

INCOME STATEMENT

01.01.1998-31.12.1998

 

consolidated, audited

in EEK

 

INCOME STATEMENT

                                               consolidated     consolidated

                                                       1998             1997

NET SALES                                       433 436 137      436 233 629

 

COST OF GOODS SOLD                              334 992 607      345 967 611

 

GROSS PROFIT                                     98 443 530       90 266 018

 

Marketing expenses                               28 874 491       31 094 069

Administrative expenses                          47 688 795       34 985 167

Other revenue                                     3 611 028       30 682 395

Other expenses                                   39 781 550        4 895 395

 

Operating profit                                -14 290 278       49 973 782

 

FINANCIAL REVENUE                                 1 777 591        2 119 214

Income from equity holding                                         1 714 608

Other financial revenue                           1 777 591          404 606

FINANCIAL EXPENSES                               65 932 666       10 963 599

Expenses related to equity holding               31 480 418        3 238 056

Other financial expenses                         34 452 248        7 725 543

 

Profit before taxes                             -78 445 353       41 129 397

 

Income tax                                                       -10 191 371

 

Deferred income tax                               2 728 903       -1 137 304

 

Profit after taxes                              -75 716 450       29 800 722

 

Minority interest                                 2 299 291          787 252

 

Net profit/loss                                 -73 417 159       30 587 974

 

Earnings per share (EEK)                              -9,32             3,87

 

 

Eva Jaanson

chief accountant

+372 6283 730