TALLINNA KAUBAMAJA

INCOME STATEMENT



CONSOLIDATED INCOME STATEMENT, Q2 2001



Consolidated, unaudited

in thousand EEK



                                       H1 2001  H1 2000  Q2 2001  Q2 2000

REVENUE

Net sales                              654,317  494,508  355,785  268,242

Other revenue                            9,945    8,279    5,835    4,754

Total revenue                          664,262  502,787  361,620  272,996

EXPENSES

Goods                                 -486,379 -362,036 -260,345 -194,983

Other operating expenses               -75,704  -47,214  -39,926  -24,080

Personnel expneses                     -64,566  -47,764  -34,484  -25,970

Depreciation                           -25,664  -23,258  -13,088  -14,448

Depreciation and value

adjustments to non-current assets      -25,711  -23,188  -13,170  -14,413

Amortisation of goodwill                    48      -70       82      -35

Other expenses                          -1,287     -950     -666     -587

Total expenses                        -653,600 -481,220 -348,509 -260,068

OPERATING PROFIT                        10,663   21,566   13,111   12,928

Financial income                         1,114    2,096      965      932

Interest income                            243      494       94      878

Other financial income                     871    1,602      871       54

Financial expenses                      -7,318   -6,524   -3,656   -4,133

Financial expenses related with

associated companies                       -48     -334       25     -256

Interest expenses                       -7,147   -6,124   -3,571   -3,856

Other financial expenses                  -123      -66     -111      -21

Net profit for the period

before minority interest                 4,459   17,138   10,420    9,727

Minority share                               0     -536     -109     -344

NET PROFIT (LOSS) FOR THE PERIOD         4,459   16,601   10,311    9,384





Katrin Mühls

CFO

+372 6 673 373