Earnings of the listed companies

  • 1999-12-09

Rakvere Lihakombinaat (Rakvere Meatpacking Factory) has
posted a net profit of 15.1 million kroons (USD 973,000) on
consolidated net sales of 549.3 million kroons for the
January-September period.

The turnover showed a year-on-year drop of 17.3 percent or 115 million kroons.

Rakvere LK information manager Andrit Heidov said the group's
sales declined mostly due to a drop in exports to Ukraine and Russia
and Latvia's prohibitive customs tariffs. The meatpacker exported
76.6 million kroons' worth of output in January through September.
Compared with the same period a year ago, the exports were down by
nearly 50 percent.

The parent company's unconsolidated turnover in the nine
months was 401.2 million kroons as compared with 572.3 million kroons
in the first nine months of 1998. The net profit was 21.9 million

Of the subsidiaries, Rigas Miesnieks and Ekseko ended the
nine months with losses of respectively 4.3 million and 5.5 million
kroons. Rigas Miesnieks reported 174.1 million and Ekseko, 68.7
million kroons, in turnover.

Rigas Miesnieks Trading made a profit of 0.3 million kroons
at a turnover of 163.6 million kroons and the Lithuanian subsidiary,
Rakveres Mesos Produktai Vilnius, netted 1.7 million kroons on a
turnover of 30.8 million kroons.

The net profit of Tallinna Kulmhoone (Tallinn Freeze Plant)
was 18.4 million kroons (USD 1.19 mln) in January-October, 2 million
kroons up from the year before, the company reported.

Tallinna Kulmhoone's January-October consolidated net sales
were 382.6 million kroons, up 35.3 percent or 99.8 million kroons
year on year.

In the ten-month period, the company's sales amounted to
3,305.1 tons of icecream. The figure is 19.5 prct or 538.5 tons
higher than in January-October 1998.

Kulmhoone's export sales totaled 340.8 tons or 10.3 percent
of total sales. In 1998, Kulmhoone's export sales totaled 344.2 tons
in January-October.

Net sales of the computer technology firm XXL.EE in the third
quarter of this year amounted to 5.9 million kroons (USD 381,000);
the firm's unconsolidated loss for the same period was 1.9 million

The company's CEO Arho Anttila said the loss was partly due
to corporate restructuring - the closure of the Keila factory,
relocation and staff cuts, and the launching of digital media

The extraordinary expenses totaled more than 300,000 kroons.

As of the end of September, XXL.EE's unconsolidated balance
sheet volume stood at 27.9 million kroons.

The owners' equity was negative to the tune of 2.9 million
kroons. To increase equity, the firm issued 400,000 shares at EEK 20
par value.

Pennu Computer Technology Group's business year lasted from
July to June. XXL.EE's business year will coincide with the calendar
year and because of this the firm's current business year will last
18 months.


The Klaipeda-based brewer Svyturys, ranking third among
Lithuanian beer producers, sold 232,000 decaliters of beer (dal) over
November, a decline of just 1,000 dal against October.

Svyturys Director-General Tomas Kucinskas said it was a very
good result, given that beer sales normally shrink in late autumn
because of seasonal factors.

"The drop was 19 percent in November of last year compared
with October," Kucinskas said.

In year-on-year terms, the company's beer sales rose 2.6
percent in November 1999, up from 226,000 dal reported a year ago.

Svyturys had some 23 percent of the country's beer market this year. O