ESTIKO

CASH FLOW STATEMENT



CONSOLIDATED CASH FLOW STATEMENT, Q3 2000



in thousand EEK

                                                          9m 2000   9m 1999





I  Operating activities

Net profit                                                  6,643     6,485

Depreciation and value adjustments to fixed assets          8,311     7,638

Profit from sale of fixed assets                             -341      -626

Loss from sale of fixed assets                                 65         0

Profit from sale of investments                                 0       -18

Loss from sale of investments                                   0       335

Adjustments to changes in receivables and assets           -2,937    13,321

Adjustments to changes in liabilities                       1,556   -19,135

Net cash flow from operating activities                    13,297     8,000



II   Investing activities

Paid at purchase of financial assets                          -45         0

Proceeds from sale of financial assets                          0     3,020

Proceeds from long-term receivables                            90       308

Paid at purchase of fixed assets                           -2,721    -2,214

Prepayments for fixed assets                                    0    -5,296

Proceeds from prepayments for fixed assets                  1,500         0

Proceeds from sale of fixed assets                          3,471     2,600

Net cash used in investing activities                       2,295    -1,582



III  Financing activities

Proceeds from borrowings                                        0    10,516

Repayment of borrowings                                   -18,379   -14,342

Finance lease payments                                       -889      -961

Claim against shareholders                                  4,651         0

Change in treasury shares                                     -34         0

Net cash used in financing activities                     -14,651    -4,787



Net cash flow                                                 941     1,631



Cash and cash equivalents at beginning of period            1,050     3,875



Cash and cash equivalents at end of period                  1,990     5,506



Net change in cash                                            940     1,631





Ellen Tohvri

Management Board chairman

+372 7 308 302