BALTIKA

BALANCE SHEET



CONSOLIDATED INCOME STATEMENT 01.01.-30.09.2000



Consolidated, unaudited

thousand EEK



                                     Q3 2000   Q3 1999   9m 2000   9m 1999

REVENUE

Net sales                            108,403    72,533   260,923   212,495

Other revenue                          1,364        82     3,510     2,684

Total revenue                        109,767    72,615   264,433   215,179



EXPENSES

Incl. materials, consumables,        -43,476   -30,198  -114,494   -76,330

supplies and services

Change in inventories                 -7,477     2,252     2,071   -16,454

Operating expenses                   -16,773   -12,878   -45,708   -33,393



Personnel expenses                   -30,555   -25,321   -81,782   -73,374

Wages and salaries                   -20,099   -18,103   -56,715   -52,335

Social security taxes                 -6,819    -5,957   -19,094   -17,217

Reserves                              -3,637    -1,261    -5,973    -3,822

Depreciation                          -2,597    -2,504    -8,349    -7,638

Other expenses                          -579      -484    -1,526    -1,218

Total expenses                      -101,457   -69,133  -249,788  -208,407



OPERATING PROFIT                       8,310     3,482    14,645     6,772



FINANCIAL INCOME                         129        86     2,183       755

Financial income from investments        130         6     1,788       451

Foreign exchange gain                    -61         0       180         0

Interest income                           63        79       197       199

Other financial income                    -3         1        18       105

FINANCIAL EXPENSES                    -1,335    -1,722    -3,670    -5,765

Interest expenses                     -1,300    -1,458    -3,442    -4,580

Loss from the exchange differences         0       -81         0      -804

Other financial expenses                 -35      -183      -228      -381



PROFIT FROM NORMAL OPERATIONS          7,104     1,846    13,158     1,762

PROFIT BEFORE TAXES                    7,104     1,846    13,158     1,762

DEFERRED INCOME TAX LIABILITY              0      -897         0      -699

NET PROFIT                             7,104       949    13,158     1,063

Minority interest                      1,579     1,266     2,455       783

Group net profit                       5,525      -317    10,703       280





Earnings per share                      1.15     -0.07      2.23      0.06





Ülle Järv

Management Board member

+372 63 02 741