AS ESTIKO

ANNOUNCEMENT

05.03.99

 

 

COMMENTARY TO THE CONSOLIDATED (UNAUDITED) 1998 FINANCIAL 

RESULTS OF AS ESTIKO GROUP 

 

The 1998 consolidated unaudited net sales of AS Estiko amounted 

to 485.1 million EEK, and gross profit 6.8 million EEK.

 

The 1998 consolidated net sales of the real estate sector of 

Estiko group amounted to 22.3 million EEK, and gross profit 6.1 

million EEK.

 

The 1998 consolidated net sales of the trading sector of Estiko 

group amounted to 341.4 million EEK, and gross profit 6.0 

million EEK. In comparison with the respective figures last 

year, the trading sector’s turnover increased by 84%.

 

The 1998 net sales of the industrial sector of Estiko group 

amounted to 121.4 million EEK, and gross profit 6.7 million 

EEK. In comparison with the respective figures last year, the 

industrial sector’s turnover increased by 33.1%, and gross 

profit by 157.7%.

 

The 1998 consolidated forecast of AS Estiko anticipated the net 

sales volume of 406 million EEK, of which 119.5% was met. The 

volume of consolidated gross profit forecast amounted to 10 

million EEK (68.0% met). The main reason behind the under-

realization of gross profit forecast was the larger-then-

expected loss of trading sector.

 

 

 

Igor Sada

Financial director of the group

Tel. +372 747 6916