ESTONIAN TELEPHONE COMPANY

INCOME STATEMENT

01.01-30.06.99

 

 

consolidated, IAS

unaudited

EEK thous.

                                                                        Group                       Estonian Telephone Co.                                                                      

 

								       6 M 99         6 M 98         6 M 99         6 M 98

 

Revenues

Net sales                                                           1,170,354      1,023,553      1,161,555      1,015,867

Change in work-in-progress                                               -678         -1,672           -678         -1,672

Other revenues                                                          7,563         10,322          7,696         10,001

Total revenues                                                      1,177,239      1,032,203      1,168,573      1,024,196

 

Operating expenses

Materials, consumables, supplies and services                         330,726        301,473        336,365        306,129

Other operating expenses                                              130,594        109,209        125,041        104,878

Personnel expenses                                                    187,053        173,314        181,722        169,115

Other expenses                                                         13,450         10,014         13,450          9,955

Total operating expenses                                              661,823        594,010        656,578        590,077

 

Earnings before depreciation                                          515,416        438,193        511,995        434,119

 

Depreciation and value adjustments of current assets                  322,830        218,130        321,574        217,115

 

Operating profit                                                      192,586        220,063        190,421        217,004

 

Financial income

Financial income from subsidiaries and                                    437              0          1,445          1,239

associated companies

Financial income from other fin. investments                                0              0              0              0

Foreign exchange gain                                                      89            105             88             94

Other financial income                                                  1,247          1,791          1,193          1,791

Total financial income                                                  1,773          1,896          2,726          3,124

 

Financial expenses

Intereste expenses                                                     28,652         30,339         28,615         30,011

Foreign exchange loss                                                   3,368            691          3,368            683

Other financial expenses                                               15,171         17,634         15,171         17,634

Total financial expenses                                               47,191         48,664         47,154         48,328

 

Profit before taxes                                                   147,168        173,295        145,993        171,800

 

Income tax: expense (-) / income (+)                                   -3,003         -3,162         -2,500         -2,493

 

Profit after taxes                                                    144,165        170,133        143,493        169,307

 

Minority interest                                                         672            826              0              0

 

Net profit                                                            143,493        169,307        143,493        169,307