EESTI TELEKOM

INCOME STATEMENT



ESTONIAN TELEPHONE, UNAUDITED INCOME STATEMENT OF 2000



ESTONIAN TELEPHONE COMPANY AND SUBSIDIARY COMPANIES

INCOME STATEMENT (Unaudited)



Financial statements are prepared in thousands of kroons



                                          2000       1999

                                                          

Revenue                                         

Net sales                            2,665,909  2,444,857

Change in work-in-progress                -492       -994

Other revenue                           24,350     12,844

Total revenue                        2,689,767  2,456,707

                                                         

Operating expenses                                       

Materials, consumables, supplies       750,409    706,736

and services

Other operating expenses               349,231    285,923

Personnel expenses                     398,142    389,765

Other expenses                          28,801     23,455

Total expenses                       1,526,583  1,405,879

                                                         

Profit from operations before        1,163,184  1,050,828

depreciation

                                                         

Depreciation and amortisation          691,893    653,017

                                                         

Profit from operations                 471,291    397,811

                                                         

Income/ -expenses from subsidiaries       -305        648

and associated companies

Other net financing items              -49,279    -81,009

                                                         

Profit before tax                      421,707    317,450

                                                         

Income tax expenses (-) / income             0    -90,284

(+)

                                                         

Profit after tax                       421,707    227,166

                                                         

Minority interest                        4,601      1,601

                                                         

Net profit from ordinary activities    417,106    225,565

                                                         

Extraordinary item                           0    -85,197

                                                         

Net profit for the period              417,106    140,368

                                                          

Earnings per share                                        

Basic earnings per share (in          6,254.40   2,104.78

kroons)

Diluted earnings per share (in        6,254.40   2,104.78

kroons)





Hille Võrk

Financial Manager

6 272 460