AS RAKVERE LIHAKOMBINAAT

INCOME STATEMENT

01.01.-31.12.98

 

Consolidated, unaudited

in EEK 

 

				                                         Group          Group       Parent        Parent

		                                                          1998           1997         1998          1997  

Revenues

 

1. Net sales                                                        920,519,193    829,696,915  726,396,923   672,304,443 

2. Change in finished goods and work-in-process inventories          -6,083,893     -1,644,200    1,147,794    -9,242,575

3. Capitalised expenditures                                           3,088,998

4. Other revenues                                                    27,547,839      5,537,540    2,601,885     1,659,201

   Total commercial revenues                                        945,072,137    833,590,255  730,146,602   664,721,069

 

Expenses

 

5. Raw materials, goods, and services                               659,502,807    593,903,246  539,993,656   481,846,693

6. Other operating expenses                                          77,746,563     62,808,361   54,156,064    39,291,544

7. Personnel expenses

a           Salary expense                                          101,265,194     76,316,197   58,051,154    53,085,803

b           Social taxes                                             31,465,854     23,878,188   18,861,711    17,096,317

8. Depreciation                                                      71,963,477     57,478,555   51,968,788    46,603,255

Value adjustments on non-current assets                               3,232,281      5,033,159      300,000

9. Other expenses                                                    20,692,618      9,541,726    3,383,882     2,249,390

   Total commercial expenses                                        965,868,794    828,959,432  726,715,255   640,173,002 

 

Operating profit                                                    -20,796,657      4,630,823    3,431,347    24,548,067

 

10.Financial income

a  Income from subsidiaries                                           4,226,283                   7,959,076       129,904

c  Financial income from other financial assets                           4,043          7,688        4,043         7,688

d  Foreign exchange gain                                             10,311,895      1,125,368       15,868     1,125,368

e  Other interest and financial income                                  573,608      3,468,854    4,190,381     4,815,423

   Total financial income                                            15,115,829      4,601,910   12,169,368     6,078,383

11.Financial expenses

a  Financial expenses related to subsidiaries                                                    38,907,019    20,819,089

c  Interest expenses                                                 25,596,548     15,177,681   14,159,549     8,450,551

d  Foreign exchange loss                                              8,357,755        729,091      132,577       729,091

e  Value adjustments on financial assets                                  8,500          3,952                      3,952

f  Amortisation of goodwill                                          58,330,966      6,481,218   58,330,966

g  Other financial expenses                                              22,132        142,359       21,922       142,359

   Total financial expenses                                          92,315,901     22,534,301  111,552,033    30,145,042

 

   Extraordinary income                                                  92,629                      92,629

   Extraordinary expenses                                               157,001                     157,001

   Profit before income tax                                         -98,061,101    -13,301,568  -96,015,690       481,408

14.Deferred income tax                                               -2,362,071      4,161,946

   Minority interest profit/loss                                     -4,407,482     -6,420,894

   Net profit                                                       -96,015,690     -2,718,728  -96,015,690       481,408

 

   Earnings per share                                                    -2.545          -0.07