HARJU ELEKTER

INCOME STATEMENT

 

CONSOLIDATED INCOME STATEMENT 01.01.1999-31.12.1999

                                                      Group                 Harju Elekter

                                                       1999           1998           1999           1998

 

Net sales                                       158,395,685    161,280,076    137,726,931    147,894,369

Cost of goods sold                              126,735,418    126,997,193    109,982,369    116,753,344

Gross profit                                     31,660,267     34,282,883     27,744,562     31,141,025

 

Marketing expenses                                6,684,166      7,084,155      5,477,357      6,417,423

Administration and general expenses              11,629,619     11,572,315     10,400,432     10,586,573

Other operating income                              775,738        200,643        769,934        189,367

Other  operating expenses                           747,016      1,234,883        676,215      1,065,842

 

Operating profit                                 13,375,204     14,592,173     11,960,492     13,260,554

 

Financial income, incl.

     -from subsidiaries                           2,586,619              0      4,162,345        668,407

     -from affiliated companies                   2,743,591      1,746,568      2,743,591      1,746,568

     -from other holdings                         4,564,833      4,156,798      4,564,833      4,156,798

     -foreign exchange gain                         103,636         48,659         98,923         44,892

     -other interest and financial income           834,980        229,425        899,904        305,792

Total financial income                           10,833,659      6,181,450     12,469,596      6,922,457

Financial expenses, incl.

     -related with affiliated companies           2,573,421              0      2,573,421              0

     -interest expense                            1,587,546      1,230,845      1,416,349      1,061,630

     -foreign exchange loss                          40,059         53,569         27,874         40,716

     -value adjustment of financial assets                0         27,320                        13,660

     -other financial expenses                       61,147      1,080,551         61,147      1,080,551

Total financial expenses                          4,262,173      2,392,285      4,078,791      2,196,557

 

Profit from normal operations                    19,946,690     18,381,338     20,351,297     17,986,454

 

Income tax                                          903,142      1,312,834        751,134      1,215,416

Deferred income tax                              -3,051,406        922,502     -2,494,791        625,036

 

 

Net profit for the financial year                22,094,954     16,146,002     22,094,954     16,146,002

 

 

Karin Padjus				

Chief Accountant

+372 67 47 403

 

 

Lembit Libe

Chief Economist

+372 67 47 412