EESTI TELEKOM

INCOME STATEMENT



AUDITED INCOME STATEMENT OF AS EESTI MOBIILTELEFON 1999



ESTONIAN MOBILE TELEPHONE COMPANY                                    

IAS, audited                                                           

EEK thous.                                                             

                                         Group               Parent Company

                                       1999        1998        1999        1998

Revenues                                                               

Net sales                         1,600,044   1,361,573   1,469,597   1,319,168

Other revenues                       14,720      14,756      13,681      14,391

Total revenues                    1,614,764   1,376,330   1,483,278   1,333,559

                                                                       

Operating expenses                                                     

Materials, consumables,             590,915     534,832     491,835     515,529

supplies and services

Other operating expenses             89,058      77,247      84,803      71,102

Personnel expenses                   66,810      46,053      57,172      39,609

Other expenses                       44,720      49,242      44,297      49,058

Total operating expenses            791,502     707,375     678,108     675,299

                                                                       

Earnings before depreciation        823,262     668,955     805,170     658,260

                                                                       

Depreciation and value              227,892     170,292     225,587     168,865

adjustments of current assets

                                                                       

Operating profit                    595,370     498,663     579,583     489,395

                                                                       

Financial income                                                       

Financial income from                     0           0      12,312       6,921

investments

Foreign exchange gain                     0         117           0         117

Other financial income                5,583       6,670       5,379       6,515

Total financial income                5,583       6,786      17,691      13,553

                                                                               

Financial expenses                                                             

Expenses from investments                 0           0           0           2

Interest expense                      1,478       5,549       1,460       5,530

Foreign exchange loss                    10         144          10         143

Other financial expenses                  0           7           0           0

Total financial expenses              1,488       5,700       1,470       5,675

                                                                       

Profit before taxes                 599,464     499,750     595,804     497,273

                                                                       

Income tax: expense (-) /           -65,982    -109,465     -62,832    -107,072

income (+)

                                                                       

Profit after income tax             533,482     390,284     532,973     390,201

Minority interest                       509          83           0           0

Net profit                          532,973     390,201     532,973     390,201





Raul Kalev

PR-manager

+372 6460 220