AS NORMA

INCOME STATEMENT

01.01-31.03.99

 

Consolidated, unaudited

 

                                                                Q1 1999 	Q1 1998 

 

NET SALES                                                   125 946 821     156 252 266

Cost of goods sold                                           68 642 560      79 240 596

Gross profit                                                 57 304 261      77 011 670

Marketing expenses                                            5 700 098       6 706 119

Administrative expenses                                      18 089 198      24 758 039

Allowance for doubtful accounts                                 -22 288       4 818 111

Other revenues                                                9 062 936       2 722 405

Other expenses                                                  838 629       1 323 014

Commercial profit                                            41 761 560      42 128 792

 

Financial revenues

b) Financial income from affiliated companies                         0         259 382

c) Other long-term investments                                        0             510

d) Foreign exchange gain                                      5 703 457         136 678

e) Other interest and financial revenues                      1 014 727       1 763 640

Total financial revenues                                      6 718 184       2 160 210

 

Financial expenses

b) Financial expenses related with affiliated companies          14 430          94 515

c) Interest expenses                                          1 521 285          53 233

d) Foreign exchange loss                                        951 432          34 384

e) Value adjustments of financial investments                         0               0

f) Other financial expenses                                     301 227               0

Total financial expenses                                      2 788 374         182 132

 

Operating profit                                             45 691 370      44 106 870

 

Profit before income tax                                     45 691 370      44 106 870

Income tax                                                   12 078 618      11 101 508

 

Net profit for the year                                      33 612 752      33 005 362