HÜVITUSFOND

ANNOUNCEMENT

09.08.99

 

COMMENTARY TO THE FINANCIAL RESULTS 06/99

 

In H1 1999, Hüvitusfond earned profit of 72.6 million EEK 

(respective 

result of last year was -184.4 million EEK). The fund’s Q1 1999 

profit totaled 42.6 million EEK.

The fund earned in H1 interest revenues in total amount of 75.9 

million EEK, of which income from investments in bonds accounted 

for 

approximately half. Interest expenses totaled 23.2 million EEK, of 

which the interest payments to bondholders accounted for the 

largest 

share. Net interest income was 52.7 million EEK, which is 

approximately equal to the last year’s respective result.

 

In H1 1999, Hüvitusfond’s income from investments in totaled 83.2 

million EEK, of which income from short-term investments (shares, 

commercial papers, fund units) accounted for the largest share.

 

Total volume of investment-related expenses amounted to 53 million 

EEK. Net investment income totaled 30.2 million EEK (respective 

result in 1998 was 239 million EEK, i.e. 186 million EEK more than 

in 

1999). 

 

In H1 1999, the fund’s net asset value increased by 245 million 

EEK, 

amounting to 965 million EEK at the end of the period. Receipts 

from 

privatization amounted to 214.2 million EEK. Total value of bonds 

issued amounted to 42.2 million EEK.

 

 

Jaanus Kosemaa

Public Relations Manager

Hüvitusfond

+3726651800, +3726651824, +3725104614