EESTI TELEKOM

INCOME STATEMENT



INCOME STATEMENT OF ESTONIAN MOBILE TELEPHONE COMPANY 1999.Y



IAS, unaudited

EEK thous.

                                      G R O U P          Parent Company

                                       1999      1998       1999       1998

Revenues                                                                   

Net sales                         1 600 044 1 361 573  1 469 597  1 319 168

Other revenues                       14 720    14 756     13 681     14 391

Total revenues                    1 614 764 1 376 330  1 483 278  1 333 559

                                                                           

Operating expenses                                                         

Materials, consumables,             590 915   534 832    491 835    515 529

supplies and services

Other operating expenses             89 058    77 247     84 803     71 102

Personnel expenses                   66 810    46 053     57 172     39 609

Other expenses                       44 720    49 242     44 297     49 058

Total operating expenses            791 502   707 375    678 108    675 299

                                                                           

Earnings before depreciation        823 262   668 955    805 170    658 260

                                                                           

Depreciation and value              227 892   170 292    225 587    168 865

adjustments of current assets

                                                                           

Operating profit                    595 370   498 663    579 583    489 395

                                                                           

Financial income                                                           

Financial income from                     0         0     12 312      6 921

investments

Foreign exchange gain                     0       117          0        117

Other financial income                5 583     6 670      5 379      6 515

Total financial income                5 583     6 786     17 691     13 553

                                                                           

Financial expenses                                                         

Expenses from investments                 0         0          0          2

Interest expense                      1 478     5 549      1 460      5 530

Foreign exchange loss                    10       144         10        143

Other financial expenses                  0         7          0          0

Total financial expenses              1 488     5 700      1 470      5 675

                                                                           

Profit before taxes                 599 464   499 750    595 804    497 273

                                                                           

Income tax: expense (-) /           -65 982  -109 465    -62 832   -107 072

income (+)

                                                                           

Profit after income tax             533 482   390 284    532 973    390 201

Minority interest                       509        83          0          0

Net profit                          532 973   390 201    532 973    390 201





Raul Kalev

PR-manager

6 460 220