AS BALTIKA

INCOME STATEMENT

01.01-31.12.98

 

Unaudited, consolidated

in full EEK

                                                               1998            1997

 

Revenues

Net sales                                               280,330,316     252,393,516

Change in work-in-process and finished goods inventories 14,357,971         -41,159

Capitalized expenditures                                    395,711          26,284

Other revenues                                            1,569,758       7,915,236

Total revenues                                          296,653,756     260,293,877

 

Expenses

Materials, consumables, supplies and services           135,674,360     122,149,595

Other operating expenses                                 53,871,678      37,756,345

Personnel expenses                                       84,351,534      65,678,088

        salary-related expenses                          63,474,337      49,422,684

        Social taxes                                     20,877,197      16,255,404

 

Depreciation                                              8,765,217       8,587,735

Other expenses                                            4,796,924       1,471,633

Total expenses                                          287,459,713     235,643,396

 

Commercial profit                                         9,194,043      24,650,481

 

Financial income

Proceeds from disposal of investments                     1,068,295         568,703

Foreign exchange gain                                       230,093         235,931

Other interest and financial income                         220,695         376,980

Other financial income                                    1,519,083       1,181,614

 

 

Financial expenses

Financial expenses from marketable securities             1,238,475       1,538,864

Interest expense                                          5,591,958       6,425,736

Foreign exchange loss                                       371,297          26,019

Other financial expenses                                    518,770       3,749,816

Total financial expenses                                  7,720,500      11,740,435

 

Profit from operations                                    2,992,626      14,091,660

Profit before income tax                                  2,992,626      14,091,660

Income tax                                                  937,512       4,220,307

Deferred income tax                                         670,171      -1,245,062

Net profit for the period                                 1,384,943      11,116,415

 

Share of parent company                                   1,945,379      10,912,407

Minority interest                                          -560,436         204,008

 

Earnings per share                                             0.41            2.31