EESTI NÄITUSED 

ANNOUNCEMENT

05.02.99

 

 

COMMENTARY TO THE 1998 FINANCIAL RESULTS

 

The 1998 gross profit Eesti Näituste AS was 9.53 million EEK, which is 

4.7% less than forecasted in the beginning of the year.

 

The 1998 net sales of Eesti Näituste AS amounted to 45.9 million EEK, 

which is at the same level as in 1997. The net sales of 1996 were 31.3 

million EEK. 

 

The owners’ equity of Eesti Näituste AS as of 31.12.98 was 60.6 million 

EEK. Compared with the beginning of the year 1998, the owners’ equity 

had increased by 8.6 % on the account of gross profit.

 

In October-November 1998, several changes took place in the agenda of 

the exhibitions and fairs organized in the Fair Center of Eesti 

Näitused, which had an influence on the net sales of 1998. 

 

Due to the Estonian economic situation and lack of understanding of the 

market, the consumer goods and foodstuff fair "Baltic Consumerexpo", 

which was to be organized by the US company TNT Productions Ltd and 

which has been very successful so far in the CIS countries, was 

remitted. Due to the lack of interest towards the construction and 

maintenance of small houses, caused by the changes in the construction 

and real estate market, a new fair project "Elamumess" (“Housing Fair”, 

organizer Eesti Näituste AS) was also remitted.

 

Insufficiency of exponents and similarity of the related topics with 

the more extensive projects organized in the Fair Center caused the 

remittals of the triple fair "Modern office*Printexpo*Business service" 

and home electronics and photography equipment fair "Ceda" (organizer 

OÜ Expobalticum).

 

According to the preliminary plan, the net sales of 1999 will be 38 

million EEK and gross profit 5-6 million EEK.

 

 

Helle Kallas

Financial director