Last update: 06.07.2024 16:03 (GMT+3)

Rakvere Lihakombinaat: Commentary to consolidated results, Q1 2000

30.06.2000, Rakvere Lihakombinaat, TLN
RAKVERE LIHAKOMBINAAT
COMMENTARY TO FINANCIAL RESULTS

COMMENTARY TO CONSOLIDATED RESULTS, Q1 2000

In Q1 2000 the consolidated net sales of AS Rakvere Lihakombinaat
amounted to EEK 186.7 mln, and net profit was EEK 6.9 mln. The net
turnover volume increased by EEK 14.2 mln (8.2%) on annual basis.
Growth in turnover was due to RLK's higher sales volumes, mainly from
increased market share and growth in export sales.

In Q1 2000 export sales accounted for 29% of RLK's total sales. The
largest export partners were Latvia (54.5%), Lithuania (39.0%),
others (6.5%)

In February 2000 HK Ruokatalo OY, the parent company of AS Rakvere
Lihakombinaat, made a take-over bid to the company's small
shareholders with an aim to acquire 95% holding in AS Rakvere
Lihakombinaat. The offering became effective on 01.02.2000 and ended
on 14.03.2000. The price of the offering was EEK 4.70 per share.
During this period HK Ruokatalo OY acquired an additional 11.501%
holding in AS Rakvere Lihakombinaat share capital, thus increasing
its shareholding in the company from 79.929% to 91.43%.


As of 31.03.2000 AS Rakvere Lihakombinaat owned the following subsidiaries:
1) AS Rigas Miesnieks: 87.95% holding;
2) AS Rigas Miesnieks Trading: 100% holding;
3) AS Ekseko: 97.3% holding;
4) AS Linnulihatooted: 76% holding;
5) AS Rakveres Mesos Produktai Vilnius: 100% holding.


Andrit Heidov
Information Manager
+372 32 29 211

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