EESTI NÄITUSTE AS

ANNOUNCEMENT

19.04.99

 

COMMENTARY TO THE FINANCIAL RESULTS 03/99

 

The 3 months net sales of Eesti Näituste AS in 1999 amounted to 14.080 

million EEK, which accounts for 32.2% of 1999 turnover forecast. 

Compared to the respective period in 1998, net turnover has decreased 

by 4.9%.

 

For the first time, Eesti Näituste AS organized the DENTAL FAIR in 

cooperation with the Estonian Dentist Union and Estonian Dental 

Treatment Materials Importers’ Union.

 

The area of exhibition and number of participating companies on the 

triple fair ENEREX*LAMP*ELCOMATIC (organizer Expo Balticumi OÜ) 

increased.

 

The substantial changes proceeding from deceleration of the Estonian 

economic growth and loss of Russian market were also reflected in the 

fairs organized during the three months of 1999: 

 

- 3rd international electro-technics and electronics fair ELTEX 

(organizer OÜ Eltevik ) was more moderate than projected – the number 

of exhibits decreased by approximately three times, and the area of 

exhibition by four times;

 

- due to low interest, the agricultural equipment fair AGROTEC 

(organizer OÜ Fragmentor) was cancelled;

 

- the area of exhibition of TEEVIIT*RAAMATULAAT(educational fair 

organized by the Ministry of Education) decreased by fifth;

 

- the area of exhibition of the triple fair HORECA BALTIC*VINORUM*SHOP 

BALTIC (organizer Expo Balticum OÜ) was one third of initially planned.

 

Proceeding from the cyclical nature of international automobile and 

technical equipment fair MOTOREX in Tallinn, MOTOREX `99 had less 

exhibitions than in 1998, when the fair was also recommended by the 

Organization of International Car Producers (OICA).

 

Unaudited 3 months gross profit of Eesti Näituste AS in 1999 amounted 

to 4 million EEK (in respective period last year, 5.4 million EEK), 

which is 26% less than during the same period last year.

 

 

 

Helle Kallas

Financial director