REVAL HOTELLIGRUPP

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT 01.01-31.12.99



Consolidated, unaudited

in thousand EEK



                                            01.01-31.12.99 01.01-31.12.98



Net sales                                          203 244     210 114

Cost of goods and services sold                     90 021      99 388

Gross profit                                       113 223     110 726

Marketing expenses                                   9 058       7 807

Administrative expenses                             56 898      72 038

Other revenue                                        6 410       4 085

Other expenses                                       4 348       1 722

Operating profit                                    49 329      33 243

Financial income                                     6 069       9 977

Proceeds from disposal of subsidiary                 1 829         410

Income from financial investments                    1 103         887

Foreign exchange gain                                2 057       2 164

Interest income                                      1 080       6 515

Financial expenses                                  23 059      10 905

Financial expenses related to subsidiaries                         160

Financial expenses related to associated compa       4 249       1 314

Loss on value adjustments to financial                 830         450

  instruments and foreign exchange differences

Interest expenses                                   15 364       7 657

Other financial expenses                             2 616       1 325

Profit before taxes                                 32 338      32 315

Income tax                                           1 625       8 559

Minority share                                                     -19

Net profit for the year                             30 713      23 775





Katrin Rasmann

Financial Director

+372 62 74 444