TALLINNA KAUBAMAJA AS

ANNOUNCEMENT

23.04.1999

 

SPECIFICATIONS TO THE 1998 CONSOLIDATED INCOME STATEMENT

 

Notes to the consolidated figures presented in the financial reports 

for the year ended on 31.12.1998.

Due to the need to unify the presentation of financial information 

submitted by the companies in the group, the following changes will be 

made to the financial reports for the year ended on 31.12.1998:

 

The 1998 consolidated income statement of the group

 

Account                               was            change            final

GOODS                         610 848 244        11 147 599      621 995 843

OPERATING EXPENSES             77 922 658         3 369 974       74 552 684

PERSONNEL EXPENSES

   salaries                    61 859 991           566 176       61 293 815

   social taxes                23 556 002         3 870 269       19 685 733

TOTAL PERSONNEL EXPENSES       85 415 993         4 436 445       80 979 548

OTHER EXPENSES                  4 699 116         3 341 180        1 357 936

 

The changes are related to the income statement of Tallinna Kaubamaja 

Suomi Oy. The specifications made to the annual report do not influence 

neither the group’s financial result for the year, nor financial 

standings (balance sheet volume). Changes will be entered in the report 

for approval of AGM.

 

 

The complete income statement will follow:

 

 

 

Tallinna Kaubamaja AS 

Income statement

In EEK

 

                                                         1998                           1997               

                                            Link        Group          Parent          Group         Parent

                                                                                                           

                                                                                                           

NET SALES                                    (1)  844 202 447     568 018 105    745 588 263    556 442 272

OTHER REVENUES                                     11 391 057      12 984 301      8 366 116      5 054 341

TOTAL REVENUES                                    855 593 504     581 002 406    753 954 379    561 496 613

             E X P E N S E S                                                                               

GOODS                                             621 995 843     409 560 039    539 953 882    397 654 730

OPERATING EXPENSES                                 74 552 684      43 298 764     49 595 432     35 121 432

PERSONNEL EXPENSES                                                                                         

   salaries                                  (2)   61 293 815      40 492 498     57 900 379     41 640 190

   social taxes                                    19 685 733      13 362 524     18 669 169     13 741 263

TOTAL PERSONNEL EXPENSES                           80 979 548      53 855 022     76 569 548     55 381 453

DEPRECIATION                                 (3)                                                           

   depreciation and value 

   adjustments of non-current assets               37 148 346      23 379 805     23 314 166     17 453 780

   Amortisation of goodwill                           116 250               0              0              0

OTHER EXPENSES                                      1 357 936         595 442      4 820 236        878 237

TOTAL EXPENSES                                    816 150 607     530 689 072    694 253 264    506 489 631

COMMERCIAL PROFIT (LOSS)                           39 442 897      50 313 334     59 701 115     55 006 982

FINANCIAL REVENUES                                                                                               

   income from subsidiaries and affiliated   (4)            0       2 864 201              0      4 850 896

   companies

   interest income                                    466 509         460 731        134 809        129 064

   other financial revenue                                  0               0         17 568              0

TOTAL FINANCIAL REVENUES                              466 509       3 324 932        152 377      4 979 960

FINANCIAL EXPENSES                                                                                         

   financial expenses related with           (4)            0      18 238 144              0      6 979 031

   affiliated companies

   financial expenses related with                  1 465 077       1 465 077        173 053        173 053

   subsidiaries

   interest expenses                               13 827 326      10 749 696      6 792 660      4 711 791

   other financial expenses                         4 752 617       4 672 967        367 520        216 406

TOTAL FINANCIAL EXPENSES                           20 045 021      35 125 885      7 333 233     12 080 281

PROFIT (LOSS) BEFORE INCOME TAX                        19 864      18 512 381     52 520 259     47 906 661

                                                          386

INCOME TAX                                          7 951 655       7 306 922     14 200 035     12 062 093

POTENTIAL INCOME TAX                         (5)    2 847 344       3 025 844      1 508 651      1 092 118

         NET PROFIT (LOSS) FOR THE YEAR             9 065 388       8 179 615     36 811 572     34 752 451

           Minority interest of profit/loss           885 773               0      2 059 121              0

         GROUP NET PROFIT FOR THE YEAR              8 179 615               0     34 752 451              0

Earnings per share		 	    (19)         1.20        			5.12               

Diluted earnings per share                               1.20                           5.12

 

 

 

Urmo Vallner

Member of the Management Board

+372 64 00 200