AS NORMA

BALANCE SHEET

30.06.99

 

Consolidated, unaudited

                                                 30.06.99      31.12.98

         ASSETS

Current assets

1. Cash and bank                              102,435,741    66,892,490

2. Marketable securities                          177,422       148,279

3. Accounts receivable

    Customer receivables                      155,864,321   149,005,622

    Allowance for doubtful accounts           -10,614,367   -12,338,957

Total                                         145,249,954   136,666,665

4. Other receivables

    Receivables from affiliated enterprises       384,748       912,400

Other current receivables                       1,767,851     3,091,835

Total                                           2,152,599     4,004,235

5. Prepaid expenses

    Prepaid/refundable tax receivables         11,396,987    14,740,978

    Other prepaid expenses                        571,045       950,905

Total                                          11,968,032    15,691,883

6. Inventories

     Raw materials                             25,513,864    26,219,059

     Work-in-process                           12,919,640    11,407,757

     Finished goods                             6,860,277    15,142,848

     Merchandise purchased for resale             215,153       303,003

     Prepayments to suppliers                   3,304,729     3,617,427

Total                                          48,813,663    56,690,094

TOTAL CURRENT ASSETS                          310,797,411   280,093,646

 

NON-CURRENT ASSETS  

7. Long-term financial investments                                    

    Shares and units in affiliated enterprises  1,776,400     1,774,424

    Other shares or units                          26,759        26,759

    Other non-current receivables               2,673,743     2,673,743

Total                                           4,476,902     4,474,926

8. Tangible assets

    Land and buildings (acquisition cost)      59,583,074    59,414,866

    Plant and equipment (acquisition cost)    218,055,429   216,812,316

    Other equipment and fixtures                2,211,660     2,199,399

    Accumulated depreciation                 -126,580,049  -113,892,098

    Unfinished building                           123,517     2,593,457

    Prepayments for tangible assets             1,384,622             0

Total                                         154,778,253   167,127,940

9. Intangible assets

      Development costs                         2,102,045     2,301,595

Total                                           2,102,045     2,301,595

TOTAL NON-CURRENT ASSETS                      161,357,200   173,904,461

TOTAL ASSETS                                  472,154,611   453,998,107

 

          LIABILITIES AND OWNERS' EQUITY

LIABILITIES 

CURRENT LIABILITIES 

10. Short-term loans                            3,080,000    16,416,000

11. Customer prepayments                        2,983,857     2,803,846

12. Supplier payables                          15,330,088    18,499,684

13. Payables to parent company                    113,207             0

14. Tax liabilities                            13,829,953     6,912,470

15. Accrued expenses

      Salary-related expenses                  12,255,313     9,695,422

      Interest expenses                           346,804       438,667

      Other accrued expenses                       48,787        38,307

Total                                          12,650,904    10,172,396

16. Other prepaid revenues                        347,888             0

TOTAL CURRENT LIABILITIES                      48,335,897    54,804,396

 

NON-CURRENT LIABILITIES

16. Other long-term debt

      Bank loans                               63,584,000    63,584,000

      Payables to parent company                  592,879       845,302

      Long-term provisions                     14,873,088    16,792,663

TOTAL NON-CURRENT LIABILITIES                  79,049,967    81,221,965

MINORITY INTEREST                                       0             0

TOTAL LIABILITIES                             127,385,864   136,026,361

OWNERS' EQUITY

17. Share capital in nominal value            132,000,000   132,000,000

18. Other reserves                              2,436,462     2,436,462

19. Mandatory reserve capital                  13,200,000    13,200,000

20. Retained earnings                         130,063,462   122,757,723

21. NET PROFIT (-LOSS) FOR THE FINANCIAL YEAR  67,068,823    47,557,561

TOTAL OWNERS' EQUITY                          344,768,747   317,951,746

TOTAL LIABILITIES AND OWNERS' EQUITY          472,154,611   453,978,107

 

 

R. Harand

Controller

+372 6 500 482