AS NORMA

ANNOUNCEMENT

01.02.99

 

 

PRELIMINARY FINANCIAL RESULTS 1998

 

The 1998 unaudited unconsolidated net sales of AS Norma amounted 

to 410.8 million EEK and gross profit 43.3 million EEK. Last 

year’s consolidated (equity method) gross profit was 50.2 million 

EEK. The main reasons behind the decline in AS Norma net sales 

and gross profit compared with 1997 were the payment difficulties 

of the Eastern market, decline in the exchange rate of US dollar, 

devaluation of Russian rouble and lack of extraordinary income.

 

In 1997, AS Norma unconsolidated net sales amounted to 519.0 

million EEK and gross profit 131.2 million EEK. The consolidated 

gross profit was 146.5 million EEK.

 

 

Peep Pihotalo

Financial director

+372 650 0417