BALTIKA

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT, Q1 2001



Consolidated, unaudited

thousand EEK                       01.01.-31.03.  01.01.-31.03.

                                            2001          2000



REVENUE

Net sales                                109,323        88,683

Other revenue                              1,530         1,204

Total revenue                            110,853        89,887



EXPENSES

Materials, consumables,

supplies and services                    -42,535       -32,482

Change in inventories                     -4,254        -3,545

Operating expenses                       -19,386       -16,628

Personnel expenses                       -32,234       -27,866

Depreciation                              -3,312        -2,941

Other expenses                            -1,016          -295

Total expenses                          -102,737       -83,757



OPERATING PROFIT                           8,116         6,130



FINANCIAL INCOME                             459           203

FINANCIAL EXPENSES                        -1,539        -1,005

PROFIT BEFORE TAXES                        7,036         5,328

Minority interest                            394           956

GROUP'S NET PROFIT                         6,642         4,372



Earnings per share (kr.)                    1.38          0.91





Ülle Järv

Management Board member

+372 63 02 741