TALLINNA KÜLMHOONE AS

ANNOUNCEMENT

01.07.99

 

COMMENTARY TO FINANCIAL RESULTS 05/99

 

The consolidated 5 months net sales of Tallinna Külmhoone AS 

amounted 

to 164.7 million EEK. Compared to the same period last year (1998 5 

months net sales 123.8 million EEK), the company's net turnover 

increased by 33% or 40.9 million EEK. 

 

In 5 months of 1999, the company sold ice-cream in total amount of 

1097 tons. Compared to the respective results of 1998, when the 

company sold 1135.2 tons of ice-cream, the sales volume decreased 

by 

3.4% or 38.2 tons. Decrease in ice-cream sales proceeded mainly 

from 

relatively cool weather. 

118.9 tons (10.8% of total ice-cream sales) of ice-cream was 

exported 

in 5 months, whereas the 5 months export volume of ice-cream last 

year was 118.8 tons. 

 

5 months pre-tax profit of Tallinna Külmhoone AS amounted to 5.52 

million EEK ; the respective figure last year amounted to 5.04 

million EEK.

 

In May 1999 AS Tallinna Külmhoone opened a new ice-cream factory, 

the 

cost of which was 88.6 million EEK, including cost of equipment 

62.8 

million EEK and cost of construction 22.1 million EEK. New 

factory’s 

production capacity is 28 tons of ice-cream per day (in two 

shifts), 

i.e. ca 7000 tons of ice-cream per annum.

The company’s savings and loan from Eesti Ühispank were used to 

finance the construction of new ice-cream factory.

 

 

Evald Karu 

Financial Director

+372 2213 369