TALLINNA KÜLMHOONE

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT, Q1 2001



Consolidated, unaudited

in thousand EEK



                                            Q1 2001  Q1 2000

REVENUE

Net sales                                   123,536   98,459

Change in inventories                         5,149    5,398

Other revenue                                   239      197

TOTAL REVENUE                               128,924  104,054

EXPENSES

Materials, consumables and supplies         107,905   85,616

Operating expenses                            5,182    5,218

Personnel expenses                           11,074    9,537

Salary expenses                               8,326    7,167

Social security taxes                         2,748    2,370

Depreciation                                  3,929    3,342

Other expenses                                  425      434

TOTAL EXPENSES                              128,515  104,147

OPERATING PROFIT                                409      -93

FINANCIAL INCOME

Other interest and financial income               4       25

TOTAL                                             4       25

FINANCIAL EXPENSES

Interest expenses                             1,261    1,019

TOTAL                                         1,261    1,019

PROFIT (LOSS) FROM NORMAL OPERATIONS           -848   -1,087

MINORITY INTEREST                                21       20

NET PROFIT (LOSS) FOR THE YEAR                 -869   -1,107



EARNINGS PER SHARE (EEK)                      -0.26    -0.33





Evald Karu

Management Board member

+372 605 7800