BALTIKA

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT, 06/2000



Consolidated, unaudited

thousand EEK                             Q2        Q2        H1        H1

                                        2000      1999      2000      1999



REVENUE

Net sales                              63,837    59,360   152,520   139,962

Other revenue                             942       566     2,146     2,602

Total revenue                          64,779    59,926   154,666   142,564



EXPENSES

Incl. materials, consumables,         -38,536   -15,351   -71,018   -46,132

supplies and services

Change in inventories                  13,093   -13,651     9,548   -18,706

Operating expenses                    -12,307    -8,553   -28,935   -20,515

Depreciation

Personnel expenses                    -23,361   -22,804   -51,227   -48,053

Wages and salaries                    -18,167   -16,212   -36,616   -34,232

Social security taxes                  -6,121    -5,415   12275)    -11,260

Reserves                                  927    -1,177    -2,336    -2,561

Depreciation                           -2,811    -2,515    -5,752    -5,134

Other expenses                           -652        -       -947      -734

Total expenses                        -64,574   -62,874  -148,331  -139,274



OPERATING PROFIT                          205    -2,948     6,335     3,290



FINANCIAL INCOME                        1,851       332     2,054       669

Financial income from investments       1,598       145     1,658       445

Foreign exchange gain                     201        15       241        -

Interest income                            38        68       134       120

Other financial income                     14       104        21       104

FINANCIAL EXPENSES                     -1,330    -1,666    -2,335    -4,043

Interest expenses                      -1,167    -1,515    -2,142    -3,122

Loss from the exchange differences         -         -         -       -723

Other financial expenses                 -163      -151      -193      -198



PROFIT FROM NORMAL OPERATIONS             726    -4,282     6,054       -84

PROFIT BEFORE TAXES                       726    -4,282     6,054       -84

INCOME TAX                                 -     -1,307        -         -

DEFERRED INCOME TAX LIABILITY              -        -99        -       -198

NET PROFIT                                726    -2,876     6,054       114

Minority interest                         -80      -781       876      -483

Group net profit                          806    -2,095     5,178       597



Earnings per share                       0.17     -0.44      1.08      0.12





Ülle Järv

Management Board member

+372 63 02 741