TALLINNA KÜLMHOONE

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT H1 2001



Consolidated, unaudited

in thousand EEK

                                          Q2 2001 Q2 2000  H1 2001  H1 2000



REVENUE

Net sales                                 136,560 130,057  260,096  228,516

Change in inventories                          84  -2,403    5,232    2,994

Other revenue                                 241     203      481      401

TOTAL REVENUE                             136,885 127,857  265,809  231,911

EXPENSES

Materials, consumables and supplies       111,799  97,069  219,704  182,685

Other operating expenses                    2,915   8,197    8,097   13,416

Personnel expenses                         12,435  10,323   23,509   19,860

Salary expenses                             9,370   7,762   17,696   14,929

Social security taxes                       3,065   2,561    5,813    4,931

Depreciation                                4,151   3,655    8,080    6,997

Other expenses                                613     523    1,038      957

TOTAL EXPENSES                            131,913 119,767  260,428  223,915

OPERATING PROFIT                            4,972   8,090    5,381    7,996

FINANCIAL INCOME

Foreign exchange profit                       158              158

Other interest and financial income            12       9       16       34

TOTAL                                         170       9      174       34

FINANCIAL EXPENSES

Foreign exchange loss                           8                8

Interest expenses                           1,392   1,231    2,653    2,250

TOTAL                                       1,400   1,231    2,661    2,250

PROFIT (LOSS) FROM NORMAL OPERATIONS        3,742   6,868    2,894    5,780

MINORITY INTEREST                              85      28      106       47

NET PROFIT (LOSS) FOR THE YEAR              3,657   6,840    2,788    5,733



EARNINGS PER SHARE (EEK)                     1.08    2.02     0.82     1.69





Evald Karu

Management Board member

+372 6 057 800