EESTI TELEKOM

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT 2001, EUR



AS EESTI TELEKOM AND SUBSIDIARY COMPANIES

In thousand of euros (EUR)

unaudited

                                  2001      2000

                                       (restated)

Revenue                                 

Net sales                      265,516   251,183

Change in work-in-progress          34       -31

Capitalized self-                5,567         0

constructed assets

Other revenue                    2,712     2,801

Total revenue                  273,829   253,953

                                                

Operating expenses                              

Materials, consumables,         82,088    59,175

supplies and services

Other operating expenses        30,994    27,588

Personnel expenses              34,173    30,962

Other expenses                   2,768     3,417

Total expenses                 150,023   121,142

                                                

Profit from operations         123,806   132,811

before depreciation

                                                

Depreciation                    72,965    61,950

                                                

Profit from operations          50,841    70,861

                                                

Income/ -expenses from           1,715       -20

subsidiaries and associated

companies

Other net financing items         -249      -757

                                                

Profit before tax               52,307    70,084

                                                

Income tax on dividends          1,977     3,474

                                                

Profit after tax                50,330    66,610

                                                

Minority interest                   36       358

                                                

Net profit from ordinary        50,294    66,252

activities

                                                

Extraordinary item                   0     5,445

                                                

Net profit for the period       50,294    71,697

                                        

Earnings per share                      

Basic earnings per share          0.37      0.52

(in kroons)

Diluted earnings per share        0.37      0.52

(in kroons)





Hille Võrk

Financial Manager

6 272 460