KALEV

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT, 9M 2001



Consolidated

Unaudited

in thousand EEK

                          Q3 2001 Q3 2000 9m 2001 9m 2000



NET SALES                  66,855  74,268 214,298 232,478



COST OF GOODS SOLD         44,075  50,709 137,296 162,042



GROSS PROFIT               22,780  23,559  77,002  70,436



MARKETING EXPENSES          9,920   3,854  23,418  16,630

ADMINISTRATIVE EXPENSES     6,751   6,641  31,699  22,905

OTHER REVENUE                 369     774   6,182   8,977

OTHER EXPENSES                747   9,299   6,559  26,306



OPERATING PROFIT            5,731   4,539  21,508  13,572



FINANCIAL INCOME               59     329     648   3,095

FINANCIAL EXPENSES          1,709   1,473   4,994   7,345



NET PROFIT/LOSS             4,081   3,395  17,162   9,322



EARNINGS PER SHARE           0.52    0.43    2.18    1.18





Ruth Roht

PR manager

+372 6 28 38 58