EESTI TELEKOM

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT 01.01-31.12.99



IAS, unaudited

EEK thous.

                                      G R O U P          Parent Company

                                    1999       1998      1999       1998

                                                                           

Revenue                                                                    

Net sales                         3 568 522 3 061 705          0          0

Change in work-in-progress             -994      -498          0          0

Other revenue                        27 714    37 836         94        530

Total revenue                     3 595 242 3 099 043         94        530

                                                                           

Operating expenses                                                         

Materials, consumables,             834 078   752 349          0          0

supplies and services

Other operating expenses            385 029   347 655     26 198     39 559

Personnel expenses                  466 208   402 417      9 634      3 632

Other expenses                       70 156    70 921      2 028      1 518

Total expenses                    1 755 471 1 573 342     37 860     44 709

                                                                           

Profit from operations before     1 839 771 1 525 701    -37 766    -44 179

depreciation

                                                                           

Depreciation, amortisation and      884 497   721 503        676        383

value adjustments of current

assets

                                                                           

Profit from operations              955 274   804 198    -38 442    -44 562

                                                                           

Financial income                                                           

Income from subsidiaries and            648       448    592 829    332 400

associated companies

Income from other financial               0        75     15 413     15 413

investments

Foreign exchange gain                   510     4 695        487          0

Other financial income               17 398    26 408      9 975     16 679

Total financial income               18 556    31 626    618 704    364 492

                                                                           

Financial expenses                                                         

Expenses from subsidiaries and            0         0          0          0

associated companies

Interest expense                     36 759    55 710          0          0

Foreign exchange loss                 4 245       878          0          0

Other financial expenses             27 943    32 394          0          0

Total financial expenses             68 947    88 982          0          0

                                                                           

Profit from ordinary activities     904 883   746 842    580 262    319 930

                                                                           

Extraordinary expense                85 197         0          0          0

                                                                           

Profit before tax                   819 686   746 842    580 262    319 930

                                                                           

Income tax expenses (-) /          -156 266  -106 771          0     -1 767

income (+)

                                                                           

Profit after tax                    663 420   640 071    580 262    318 163

                                                                           

Minority interest                    83 158   321 908          0          0

                                                                           

Net profit for the period           580 262   318 163    580 262    318 163





Raul Kalev

PR-manager

6460 220