AS KALEV

INCOME STATEMENT

01.01-31.12.98

 

Consolidated, unaudited

                                                         Consolidated          Consolidated

                                                                 1998                  1997

Net sales                                                 420,527,037           436,233,629

 

Cost of merchandise sold                                  327,427,696           345,945,755

 

Gross profit                                               93,099,341            90,287,874

 

Marketing expenses                                         28,874,491            31,267,732

Administrative expenses                                    42,143,592            35,248,711

Other revenues                                             10,755,662            30,682,395

Other expenses                                             54,108,178             4,895,395

 

Commercial profit                                         -21,271,258            49,558,431

 

Financial revenues                                          4,284,594             2,119,214

Income from equity holding                                                        1,714,608

Other financial income                                      4,284,594               404,606

Financial expenses                                         61,458,688            10,745,029

Expenses from equity holding                               31,480,418             3,238,056

Other financial expenses                                   29,978,270             7,506,973

 

Profit before income tax                                  -78,445,353            40,932,616

 

Income tax                                                                       11,328,675

 

Deferred income tax revenue                                 2,728,903

 

Profit after taxes                                        -75,716,450            29,603,941

 

Minority interest                                           2,299,291               787,252

 

Net profit/loss                                           -73,417,159            30,391,193

 

 

 

Eva Jaanson

Accountant