BALTIKA

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT, Q2 2001



Consolidated, unaudited

thousand EEK                        Q2 2001  Q2 2000   H1 2001   H1 2000





REVENUE

Net sales                            74,809   63,837   184,132   152,520

Other revenue                           333      942     1,863     2,146

TOTAL REVENUE                        75,142   64,779   185,995   154,666



EXPENSES

Materials and supplies              -36,473  -38,536   -79,008   -71,018

Change in inventories                13,566   13,093     9,312     9,548

Other operating expenses            -17,965  -12,307   -37,351   -28,935

Personnel expenses                  -27,050  -23,361   -59,284   -51,227

Depreciation                         -3,588   -2,811    -6,900    -5,752

Other expenses                         -252     -652    -1,268      -947

TOTAL EXPENSES                      -71,762  -64,574  -174,499  -148,331



OPERATING PROFIT                      3,380      205    11,496     6,335



FINANCIAL INCOME                        114    1,851       573     2,054

FINANCIAL EXPENSES                   -1,353   -1,330    -2,892    -2,335

PROFIT BEFORE MINORITY INTEREST       2,141      726     9,177     6,054

Minority interest                       -43      -80       351       876

Group net profit                      2,184      806     8,826     5,178





Earnings per share (kr.)               0.46     0.17      1.84      1.08





Ülle Järv

Management Board member

+372 6 302 741