HARJU ELEKTER

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT, 01.01.-30.06.01



Consolidated/unaudited

in thousand EEK                                  Group          Parent

                                            H1 2001 H1 2000 H1 2001 H1 2000



NET SALES                                    88,897  90,437  76,917  75,562

Cost of goods sold                           71,361  72,970  63,381  61,347



Gross profit                                 17,536  17,467  13,536  14,215



Operating expenses, incl.                    11,556  10,912   8,838   8,471

Marketing expenses                            4,025   4,180   2,849   2,943

Administrative expenses                       7,531   6,732   5,989   5,529

Other revenue                                   204     108     188      52

Other expenses                                  431     335     395     322



Operating profit                              5,753   6,329   4,491   5,474



Financial income, incl.

Financial income from subsidiaries                0       0     831     618

Financial income from associated companies    2,053   4,570   2,053   4,570

Financial income from other holdings          6,178   4,183   6,187   4,183

Other interest and financial income             167     383     262     414

Total financial income                        8,399   9,139   9,332   9,785

Financial expenses, incl.

Financial expenses related

with associated companies                         0     322       0     322

Interest expense                                987     979     679     807

Foreign exchange loss                            37      51      17      15

Other financial expenses                         15      64      15      64

Total financial expenses                      1,039   1,417     711   1,209



Profit from normal operations                13,113  14,050  13,113  14,050



Net profit for the year                      13,113  14,050  13,113  14,050



Basic and diluted earnings per share           2.43    2.60    2.43    2.60





Karin Padjus

Chief Accountant

+372 67 47 403





Lembit Libe

Chief Economist

+372 67 47 412