AS ESTIKO

ANNOUNCEMENT

29.07.1999

 

COMMENTARY TO THE CONSOLIDATED AND UNAUDITED H1 1999 FINANCIAL 

RESULTS 

OF AS ESTIKO GROUP

 

AS Estiko H1 1999 consolidated net sales totaled 72.1 million EEK, 

net 

profit 3.1 million EEK. The last year’s respective figures were 

243.4 

million EEK and 4.1 million EEK. 

 

Due to disposal of AS Estiko’s shareholding in AS Eesti Spar, the 

H1 

1999 financial statements do not include the results of the group’s 

trading sector.

After elimination of the results of the trading sector from 1998 

financial reports, the comparable H1 1998 turnover figure is 71.5 

million EEK and net profit 5.3 million EEK. Based on the comparable 

figures, the consolidated turnover of Estiko group has increased by 

0.8% and net profit decreased by 41.5%.

The H1 1999 net profit figure also includes the loss from disposal 

of 

AS Eesti Spar shares of 335 thousand EEK.

 

The H1 1999 turnover of the group’s industrial sector totaled 56.8 

million EEK (10.6% decrease from the same period last year) and net 

profit 4.0 million EEK (60% increase from the same period last 

year).

The H1 1998 turnover of the group’s industrial sector amounted to 

63.5 

million EEK and net profit 2.5 million EEK.

 

The H1 1999 turnover of the group’s real estate sector totaled 15.3 

million EEK (93.7% increase from the same period last year) and net 

loss 0.9 million EEK, incl. loss of AS Emajõe Ärikeskus of 2.0 

million 

EEK.

The H1 1998 turnover of the group’s real estate sector totaled 7.9 

million EEK and net profit 2.8 million EEK.

 

 

Igor Sada

Financial Director

AS Estiko group 

Tel. +372 7476916