ESTIKO

CASH FLOW STATEMENT



CONSOLIDATED CASH FLOW STATEMENT, Q3 2001



Unaudited

in thousand EEK

                                                 9m 2001  9m 2000



Operating activities

PROCEEDS                                         148,633  140,888

Proceeds from customers                          148,194  135,508

Other                                                439    5,379

PAYMENTS                                         127,062  117,718

Payments to suppliers                            100,790   93,604

Tax payments                                      11,829   11,076

Payments of wages and salaries                    13,146   11,583

Payments to other accrued expenses                 1,064    1,146

Other payments                                       233      309

Net cash flow from operating activities           21,570   23,170



Investing activities

PROCEEDS                                          15,891    6,324

Proceeds from sale of fixed assets                15,891    4,824

Proceeds from prepayments for fixed assets             0    1,500

PAYMENTS                                          26,662    2,962

Paid at purchase of tangible assets               26,662    2,918

Paid at purchase of financial assets                   0       45

Net cash used in investing activities            -10,771    3,362



Financing activities

Credit line                                        2,201   -3,698

PROCEEDS                                          14,037       50

Proceeds from interest on borrowings                  37       50

Proceeds from borrowings                          14,000        0

PAYMENTS                                          26,270   21,944

Repayment of borrowings                           10,778   14,362

Repayment of non-convertible  borrowings           3,945      319

Finance lease payments                             3,214    1,040

Interest payments                                  6,945    5,924

Other financial expenses                             486      221

Owners' equity - Acquisition of treasury share       604       34

Other payments                                       298       43

Net cash used in financing activities            -10,032  -25,592



Net cash flow                                        768      940



Cash at beginning of period                          588    1,050

Cash at end of period                              1,355    1,990





Ellen Tohvri

Management Board chairperson

+372 737 1000