AS BALTIKA

ANNOUNCEMENT

19.03.99

 

COMMENTARY TO THE FINANCIAL RESULTS 02/99

 

The unaudited and unconsolidated net sales of the first two months of 

1999 of AS Baltika amounted to 39270 thousand EEK, which is 1094 

thousand EEK less than during the same period in 1998. Decline in the 

sales volume figures during the first two months of the current year 

occurred first and foremost due to conservative sales policies of AS 

Baltika on the Eastern markets, where compared to the same period 

previous year, the sales volumes dropped by 6029 thousand EEK. 

Although at the same the sales volumes increased in Estonia, Latvia 

and Lithuania, the Eastern market’s influence can be spotted behind 

the decrease in the relative importance of goods produced by 9 % 

(sales of goods produced 1999/2  27518 thousand EEK and 1998/2 30021 

thousand EEK, respectively), which is in turn is reflected in 

decrease of gross profit by 1.5 million EEK compared to the same 

period last year. The sales of goods produced and subcontracting by 

markets were as follows:

 

(thousand EEK)

 

			1999/2		1998/2		change

Estonia			11357		10048		 13%

Latvia, Lithuania	 8529		 4491		  9%

Russia, Ukraine		 1218		 7247		(83,2%)

Finland, Sweden		13493		11018		 22,5%

England, Germany	 2861		 6888		(58,%)

 

 

Avo Reiska

Member of the Management Board