HÜVITUSFOND

FUND TRANSACTIONS REPORT

01.01-31.12.98

 

Audited,

in full EEK

                                                           1998          1997    

1.Fund at beginning of period                       926,985,311   631,355,780       

2.Revenues from privatization                       235,231,555   268,888,516       

3.Bonds issued			                    -71,940,100  -105,500,000       

4.INTEREST REVENUE                                  148,642,718   125,112,415       

        4.1.From deposits                             8,425,996    15,695,919       

        4.2.From bonds                               68,782,396    73,336,216       

        4.3.Other interests                          71,434,326    36,080,280       

5.INTEREST EXPENSES                                 -64,688,670   -61,757,197       

        5.1.Interest payments on bonds              -42,354,217   -32,944,916       

        5.2.Loan interests                           -8,734,419   -27,187,298       

        5.3.Other interests                         -13,600,034    -1,624,983       

6.NET INTEREST INCOME (4.+5.)                        83,954,047    63,355,218       

                                                                                    

7.INCOME FROM INVESTMENTS                            32,232,894   129,794,951       

       7.1.From short-term investments               18,413,122   123,814,149       

       7.2.From portfolio investments                10,439,739     1,294,572       

       7.3.From subsidiaries and associated companies 1,855,683     3,151,331       

       7.4.Real estate                                1,524,350     1,534,899       

8.INVESTMENT-RELATED EXPENSES                      -463,442,910   -40,524,784       

       8.1.From short-term investments             -300,807,102   -22,915,661       

       8.2.From portfolio investments               -17,631,644    -1,815,350       

       8.3.From subsidiaries and associated 

	   companies  				    -25,716,243    -4,312,760       

       8.4.Allowance for doubtful accounts         -118,654,862   -10,980,119       

       8.5.Real estate                                 -633,059      -500,894       

9.NET INVESTMENT INCOME/LOSS(7.+8.)                -431,210,016    89,270,167       

                                                                                    

10.OTHER OPERATING REVENUE                            3,124,023     3,106,892       

11.OTHER OPERATING EXPENSES                          -6,531,525    -4,485,935       

                                                                                    

12.ADMINISTRATIVE EXPENSES                          -19,348,940   -19,005,327       

      12.1.Salary-reated expenses                    -6,584,521    -7,230,830       

      12.2.Social taxes and other salary-related     -2,218,018    -2,442,242       

	   taxes

      12.3.Other administrative expenses             -8,510,842    -7,574,508       

      12.4.Accumulated depreciation                  -2,035,559    -1,757,747       

13.NET OPERATING PROFIT/LOSS (6.+9.+10.+11.+12.)   -370,012,410   132,241,015       

14.FUND AT THE END OF THE PERIOD (1.+2.+3.+13.)     720,264,356   926,985,311