HÜVITUSFOND

FUND TRANSACTIONS REPORT

01.01-31.12.98

 

Unaudited,

in full EEK

                                                        1998     	 1997 

                                                                           

1. Fund at beginning of period                      926 985 311 	631 355 780

2. Revenues from privatization                      235 231 555 	268 888 516

3. Bonds issued 		                     71 940 100 	105 500 000

                                                                           

4. INTEREST REVENUES                                149 969 003 	125 112 415

4.1. From deposits                                    8 425 996 	 15 695 919

4.2. From bonds                                      68 782 396 	 73 336 216

4.3. Other interests                                 72 760 611  	 36 080 280

5. INTEREST EXPENSES                                 64 688 670  	 61 757 197

5.1. Interests on bonds                              42 354 217 	 32 994 916

5.2. Loan interests                                   8 734 418 	 27 187 298

5.3. Other interests                                 13 600 035  	  1 624 983

6.NET PROFIT FROM INTERESTS                          85 280 333  	 63 355 218

                                                                           

7.  INCOME FROM INVESTMENTS                          34 358 377 	129 794 951

7.1. From current investments                        17 722 747 	123 814 149

(dividends, sales revenue)

7.2. From portfolio investments                      11 130 114   	  1 294 572

(dividends, sales revenue)

7.3.From subsidiaries and associated companies        3 981 166   	  3 151 331

(profit from equity method, sales revenue)

7.4. Real estate (rent, service fees)                 1 524 350   	  1 534 899

                                                                           

8. INVESTMENT-RELATED EXPENSES                      453 009 559  	 40 524 784

8.1 From current investments                        303 111 838  	 22 915 661

(discount,loss)

8.2.  From non-current investments (discount)        17 631 644  	  1 815 350

8.2. From subsidiaries and assoc. companies          27 841 726 	  4 312 760

(loss from equity method)

8.3. Receivables (discount,doubtful accounts)       103 792 892 	 10 980 119

8.4. Real estate (expenses,depreciation,loss)           631 459   	    500 894

                                                                           

9. NET PROFIT/LOSS FROM INVESTMENT (row7-row8)     -418 651 181  	 89 270 167

                                                                           

10. OTHER OPERATING REVENUES                          3 124 023   	  3 106 892

                                                                           

11. OTHER OPERATING EXPENSES                          6 531 525   	  4 485 935

                                                                           

12.ADMINISTRATIVE EXPENSES                           19 265 140  	 19 005 327

12.1. Salary-reated expenses                          6 584 521  	  7 264 393

12.2. Social taxes and other salary-related           2 218 018    	  2 430 296

payments

12.3. Other administrative expenses                   8 427 042   	  7 552 891

12.4. Accumulated depreciation                        2 035 559   	  1 757 747

                                                                           

13. PROFIT/LOSS FROM OPERATIONS                    -356 043 490 	132 241 015

14. FUND AT THE END OF THE PERIOD                   734 233 275 	926 985 311