TALLINNA KÜLMHOONE

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT, 9M 2001



Consolidated, unaudited

in thousand EEK



                                         Q3 2001 Q3 2000 9m 2001 9m 2000

REVENUE

Net sales                                138,023 135,303 398,119 363,819

Change in inventories                     -5,179  -4,908      54  -1,913

Other revenue                                261     449     695     849

TOTAL REVENUE                            133,105 130,844 398,868 362,755

EXPENSES

Materials, consumables and supplies      101,953 101,290 321,576 283,975

Other operating expenses                   4,132   5,803  12,311  19,219

Personnel expenses                        12,011  10,255  35,520  30,115

Salary expenses                            9,034   7,710  26,731  22,639

Social security taxes                      2,977   2,545   8,789   7,476

Depreciation                               4,375   3,623  12,455  10,620

Other expenses                               794     355   1,831   1,312

TOTAL EXPENSES                           123,265 121,326 383,693 345,241

OPERATING PROFIT                           9,840   9,518  15,175  17,514

FINANCIAL INCOME

Foreign exchange profit                                      158

Other interest and financial income            8      18      24      52

TOTAL                                          8      18     182      52

FINANCIAL EXPENSES

Foreign exchange loss                        209             216

Interest expenses                          1,208   1,508   3,862   3,757

TOTAL                                      1,417   1,508   4,078   3,757

PROFIT (LOSS) FROM NORMAL OPERATIONS       8,431   8,028  11,279  13,809

MINORITY INTEREST                            -57     -31    -163     -79

NET PROFIT (LOSS) FOR THE YEAR             8,374   7,997  11,116  13,730



EARNINGS PER SHARE (EEK)                    2.47    2.36    3.28    4.05





Evald Karu

Management Board member

+372 6 057 800