AS ESS

ANNOUNCEMENT

30.11.98

 

COMMENTARY TO THE 09/98 CONSOLIDATED FINANCIAL RESULTS

 

Compared with the respective period last year, during the first 

9 months of 1998, the balance sheet volume of AS ESS increased 

3.1 times (from 65.8 million EEK to 201.3 million EEK) and net 

sales 1.7 times (from 119.2 million EEK to 204.4 million EEK). 

The main reason behind theses figures is the purchase of 

majority stake in AS EVK Grupp, a new subsidiary of AS ESS.

The owners’ equity of AS ESS increased in a year from 30.8 

million EEK to 34.8 million EEK (12.8%), non-current 

liabilities from 1.7 million EEK to 15.6 million EEK (9.4 

times), and total liabilities from 31.0 million EEK to 164.0 

million EEK (5.3 times).

Comparing the 9 months financial results with the results of 

the I half year of 1998, the owners’ equity has decreased by 

0.2 million EEK (0.5%), non-current liabilities by 1.2 million 

EEK (7.4%), and total liabilities by 1.5 million EEK (0.9%).

AS ESS 1998 9 months profit from normal operations was 1.2 

million EEK (10.3%) more than during the same period last year. 

However, the gross profit was 3.8 million EEK (55.3%) less than 

a year ago. The main reason for such disproportion was the 

increase in the financial expenses due to the purchase and 

integration of EVK Grupp.

 

 

Indrek Lindsalu

PR Manager

+372 6 266 700