16.04.1999, Tallinna Farmaatsiatehas, TLN

TALLINNA FARMAATSIATEHASE AS

CASH FLOW STATEMENT

01.01-31.12.98

 

Consolidated, audited

                                                  group           group          parent          parent

                                                   1998            1997            1998            1997

Cash flow from operating activities

 

Profit before income tax                    -80,650,775      45,653,411     -79,512,787      48,841,178

Depreciation                                  8,436,457       6,359,890       8,267,944       5,970,946

Amortization of intangible assets               947,098         265,448         947,098         265,448

Profit (-) from sales of fixed assets            35,695           6,226          35,695          -1,596

Change in accounts receivable                52,550,300     -26,640,631      52,951,673     -28,839,273

Change in inventories                         9,086,865     -17,782,533       9,147,078     -17,770,630

Change in liabilities                         7,303,890       1,042,860       6,922,429         941,480

Income tax paid                              -2,862,075      -9,968,414      -2,862,075      -9,968,414

Interests paid                               -5,666,321      -5,906,774      -5,303,824      -5,501,900

 

Net cash flow from operating activities     -10,818,867      -6,970,517      -9,406,770      -6,062,761

 

Cash flow from investing activities

 

Purchase of subsidiary and affiliated company         0      -4,155,261               0      -5,534,004

Proceeds from sale of fixed assets              549,993         543,310         549,993         534,776

Purchase of fixed assets                    -10,333,630     -12,009,690     -10,333,630     -11,621,453

incl. purchased on financial lease contract   4,152,162       8,043,374       4,152,162       8,043,374

Reconstruction expenses                               0      -1,840,217               0      -1,568,518

Unfinished building                          -2,647,274                      -2,647,274

Change in prepayments for fixed assets        1,475,342        -646,537       1,475,342        -646,537

Purchase of intangible assets                -1,199,160      -3,921,517      -1,199,160      -3,892,934

change in loans issued                       -1,603,043         115,320      -1,023,429        -551,968

Interests received                              708,773         241,227         467,683         239,266

 

Net cash flow from investing activities      -8,897,836     -13,629,991      -8,558,313     -14,997,998

 

 

Cash flow from investing activities

 

Repayment of borrowings                     -19,857,513     -22,412,437     -17,535,451     -21,990,437

Repayment of short-term borrowings           39,753,599      15,168,630      35,753,451      15,130,178

Repayment of long-term borrowings                     0      42,000,000               0      42,000,000

Dividends paid                                        0      -5,655,052               0      -5,655,052

Lease payments                               -3,518,572      -3,225,909      -3,518,572      -3,225,909

 

Net cash flow from investing activities      16,377,514      25,875,232      14,699,428      26,258,780

 

Net change in cash                           -3,339,189       5,274,724      -3,265,524       5,198,021

 

Change in cash and cash equivalents

Cash and cash equivalents at beginning 

of year                                       5,686,611         387,330       5,609,908         387,330

Increase                                     -3,339,189       5,274,724      -3,265,524       5,198,021

Exchange differences                            414,632         -24,557         414,632         -24,557

Cash and cash equivalents at the end of year  1,932,791       5,686,611       1,929,753       5,609,908