Earnings of the listed and to-be-listed companies

  • 1999-10-21

Hansapank announced a profit of 345.5 million kroons ($23.58 million) for the first nine months of 1999, of this 22.2 million kroons in September. Hansapank's profit in August was 47.6 million kroons. Net interest income after provisions gave 45.8 percent of the total revenue in September, financial income gave 18.1 percent and service fees, 35.1 percent.

Optiva Bank has posted a profit of 10.3 million kroons for the first nine months of 1999, of which September's profit gave 597,000 kroons. Net interest income after provisions gave 40 percent, commissions and fees 26.6 percent, income from currency exchange deals 17.2 percent, and income from stock investments 14.9 percent of the profit. The bank's nine-month revenue totaled 147.9 million kroons.

Eesti Uhispank earned a profit of 10.8 million kroons in September, and 75.1 million kroons during the first nine months of the year. Uhispank's profit in August had been 9.6 million kroons. The bank's total assets at the end of September were 14.4 billion kroons, up by 56 million kroons or 0.4 percent during the month, the bank said on Friday. The growth in total assets in the third quarter was 177 million kroons, or 1.2 percent. Compared with the end of 1998 the assets were up 6.8 percent. Capital adequacy at the end of September was 12.8 percent.

The ski and furniture manufacturer AS Viisnurk earned a profit of 15.5 million kroons during the first nine months of 1999, which includes nearly five million kroons in extraordinary profit from the sale of shares in the regional heat producer Ulejoe Soojusvork. During the January-September period last year, the Parnu, west Estonia-based company earned a profit of 10.7 million kroons on sales of 136.5 million kroons.


Latvian Unibanka earned a profit of 7.97 million lats ($13.98 million) in the first nine months of 1999, spokesman Haralds Burkovskis told the Baltic News Service. In September the bank's profit was 229,000 lats. September's profit volume was affected by additional provisions that were formed for the loan to the Daugavpils-based chemical fiber company Tolaram Fibers, in line with requirements from the Bank of Latvia. Unibanka's operational revenue in the nine months was 22.752 million lats, up 48 percent from the same period in 1998.

Fiberglass manufacturer Valmieras Stikla Skiedra has met 82 percent of its planned annual sales in the nine months of 1999, the company's finance director, Imants Saulitis, told BNS. This year the plant expects to earn a profit of 750,000 lats on a turnover of 12.7 million lats.


Zemes Ukio Bankas posted a net profit of 10.08 million litas ($2.52 million) for the first nine months of this year. This accounts for 72.67 percent of the bank's projected profit for the whole year 1999. ZUB reported a nine-month net profit of 11.61 million litas last year.

Klaipeda Stevedoring Company handled 29.8 percent less cargo over the first nine months of this year compared with same period of 1998, its spokesman reported. KLASCO reloaded 4.65 million tons of cargo during the nine-month period of 1999, down from 6.62 million handled in January to September 1998, Valdas Sutkus said.

The phosphate fertilizer producer Lifosa, one of Lithuania's most profitable companies, posted a nine-month net profit of 33.6 million litas, up from 27.1 million litas reported a year ago. Lifosa, the only phosphate fertilizer manufacturer in the Baltics, has been investing its profits in new production technologies in recent years. The company's earnings have been rising thanks to growing sales and exports.

Savings bank Lithuania's Taupomasis Bankas, reported a non-audited net profit of 5.7 million litas for the first nine months of this year. The bank suffered 13.14 million litas losses during the same period of 1998, and posted a full-year audited profit of 485,000 litas. The 1999 nine-month figure was down from the bank's eight-month non-audited net profit of 8.4 million litas.

Ukio Bankas posted a profit of 889,000 litas for the first nine months of this year. The bank's audited semi-annual profit was 1.63 million litas. Ukio Bankas had a loss in the third quarter because income planned for September were received in October, the bank's board chairman, Liutauras Varanavicius, told BNS. Ukio Bankas' annual profit target remains unchanged at 3.84 million litas, he said.

Vilniaus Bankas posted a non-audited net profit of 53.558 million litas for the first nine months of this year, which accounts for 74.5 percent of its projected annual profit of 71.9 million litas. The bank's nine-month profit is up from 47.09 million litas reported for the respective period of 1998. As of late September, the assets of Lithuania's largest private bank totaled 3.06 billion litas, an increase of 23.4 percent over one year and a rise of 11.0 percent since the start of 1999.