KALEV

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT, Q1 2001



Consolidated

Unaudited

in thousand EEK

                                  Q1 2001    Q1 2000



NET SALES                          72,235     80,289

COST OF GOODS SOLD                 46,156     56,348



GROSS PROFIT                       26,079     23,941



Marketing expenses                  7,360      7,027

Administrative expenses             6,949      8,248

Other revenue                         682      4,439

Other expenses                      5,100      7,530



Operating profit                    7,352      5,575



FINANCIAL INCOME                      344      2,204

FINANCIAL EXPENSES                  1,742      2,479



Net profit/loss                     5,954      5,300



Earnings per share                   0.76       0.67





Rutt Panga

Supervisory Board Assistant

+372 628 3853