REVAL HOTELLIGRUPP

CORRECTED INCOME STATEMENT

 

CORRECTION TO CONSOLIDATED AND AUDITED INCOME STATEMENT 1999

 

All figures in Reval HG consolidated and audited income statement, 

published on 31.03.2000, are in full kroons, not in thousands of kroons.

 

Corrected income statement follows:

 

------------------------------------------ 

 

CONSOLIDATED AND AUDITED INCOME STATEMENT 1999

 

01.01.99-31.12.99

Consolidated, audited

in EEK

                                                        1999             1998

 

Net sales                                        204,734,741      211,841,596

Cost of goods and services sold                  -89,617,032      -99,388,242

Gross profit                                     115,117,709      112,453,354

 

Marketing expenses                               -10,222,556       -7,807,477

Administrative expenses                          -56,302,754      -72,038,380

Other revenue                                      6,627,550        4,085,367

Other expenses                                    -4,622,490       -1,722,120

Operating profit                                  50,597,459       34,970,744

 

Financial income / expenses

Income / expenses from financial investments        -426,513          -15,943

Foreign exchange loss                               -597,695          -13,241

Interest expenses                                -17,672,006       -2,626,377

Net financial income / expenses                  -18,696,214       -2,655,561

 

Profit before taxes                               31,901,245       32,315,183

 

Income tax                                        -1,567,634       -8,559,322

Profit after income tax                           30,333,610       23,755,861

Minority share                                                         18,732

Net profit for the year                           30,333,610       23,774,593

 

 

Katrin Rasmann

CFO

Tel. +372 62 74 444