BALTIKA

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT 01.01.-31.03.2000



Consolidated, unaudited

thousand EEK

                               01.01.-31.03.2000   01.01.-31.03.1999

REVENUE

Net sales                                 88,683            80,602

Other revenue                              1,204             2,039

TOTAL REVENUE                             89,887            82,641



EXPENSES

Incl. materials, consumables,            -32,482           -30,781

supplies and services

Change in inventories                     -3,545            -5,055

Operating expenses                       -16,628           -11,962



Personnel expenses                       -27,866           -25,249

Salaries                                 -18,449           -18,020

Social security taxes                     -6,154            -5,845

Reserves                                  -3,263            -1,384

Depreciation                              -2,941            -2,619

Other expenses                              -295              -737

TOTAL EXPENSES                           -83,757           -76,403



OPERATING PROFIT                           6,130             6,238



FINANCIAL INCOME                             203               352

Financial income from investments             60               300

Foreign exchange gain                         40                -

Interest income                               96                52

Other financial income                         7                -

FINANCIAL EXPENSES                        -1,005            -2,392

Interest expenses                           -975            -1,607

Foreign exchange loss                         -               -738

Other financial expenses                     -30               -47



PROFIT FROM NORMAL OPERATIONS              5,328             4,198

INCOME TAX                                    -             -1,208

NET PROFIT                                 5,328             2,990

Minority interest                            956               298

GROUP NET PROFIT                           4,372             2,692





Earnings per share (kr.)                    0.91              0.56





Ülle Järv

Management Board member

+372 63 02 741