TALLINNA KAUBAMAJA AS

BALANCE SHEET

31.12.98

 

Consolidated, audited

in EEK

 

                                                               31.12.1998      31.12.1998      31.12.1997      31.12.1997

ASSETS                                                              Group          Parent           Group          Parent

 

CURRENT ASSETS

Cash and bank                                                  22 737 409      17 838 695      21 890 936      17 917 499

Accounts receivable                                             2 389 495       1 010 702       1 655 829         926 568

Allowance for doubtful accounts                                 - 224 619               0       - 181 567               0

Receivables from subsidiaries                                           0       9 524 055               0         340 226

Interest receivables                                              714 511         707 223          29 533           1 356

Other current receivables                                       6 648 817         552 390               0               0

Prepaid expenses

     Other prepaid expenses                                     2 649 572       1 292 555       2 471 054         220 153

     Prepaid/refundable tax receivables                         3 063 192         211 562       1 154 549         877 396

Total prepaid expenses                                          5 712 764       1 504 117       3 625 603       1 097 548

Inventories

    Merchandise purchased for resale                          100 811 519      61 323 053      97 365 245      61 617 899

    Raw material                                                1 931 202       1 826 162       2 129 376       2 041 264

    Work-in-progress                                               14 738          14 738           9 016           9 016

    Customer prepayments                                        3 152 955       1 607 517       2 832 865       2 171 079

Total inventories                                             105 910 414      64 771 470     102 336 503      65 839 258

TOTAL CURRENT ASSETS                                          143 888 793      95 908 653     129 356 836      86 122 455

NON-CURRENT ASSETS

Financial assets

    Shares and stock in subsidiaries                                    0      21 949 302               0      14 106 851

    Shares and stock in affiliated companies                    3 361 870       3 361 870       4 826 947       4 826 947

    Non-current receivables from affiliated companies           9 910 000       9 910 000       7 500 000       7 500 000

    Other financial assets                                      6 372 734       3 122 734           1 320               0

Total financial assets                                         19 644 604      38 343 906      12 328 267      26 433 798

Tangible assets

Land and buildings

     Land                                                      26 130 781      26 130 781       9 818 858       9 818 858

     Buildings                                                140 692 569     129 180 133     105 230 482      93 754 371

Total land and buildings                                      166 823 350     155 310 914     115 049 340     103 573 229

Plant and equipments                                           45 860 728      24 012 926      28 718 882      16 795 735

Other equipment and fixtures                                  104 242 494      76 333 503      60 307 477      46 128 761

Accumulated depreciation(-)                                   -87 814 900     -67 979 973     -61 747 006     -48 858 571

Unfinished buildings                                              441 111               0         412 186               0

Prepayments for tangible assets                                   160 361         154 308       3 218 933       2 697 908

Total tangible assets                                         229 713 144     187 831 678     145 959 812     120 337 062

Intangible assets

Formation and organization costs                                                        0       4 748 960               0

Goodwill                                                          581 250               0               0               0

Total intangible assets                                           581 250               0       4 748 960               0

TOTAL NON-CURRENT ASSETS                                      249 938 998     226 175 584     163 037 039     146 770 860

TOTAL ASSETS                                                  393 827 791     322 084 237     292 393 876     232 893 315

 

 

 

 

                                                              31.12.1998                      31.12.1997

LIABILITIES AND OWNERS' EQUITY                                     Group          Parent           Group          Parent

LIABILITIES

CURRENT LIABILITIES

Debt obligations

 Debentures                                                             0               0          10 000               0

  Current period long-term debt repayment                      14 442 449       9 500 000      27 624 144      26 424 144

  Short-term loans from financial institutions                  8 177 818               0       4 549 830               0

  Current period payments of finance lease                      6 005 429       1 213 051               0               0

Total debt obligations                                         28 625 696      10 713 051      32 183 974      26 424 144

Customer prepayments for goods and services                       489 000         329 716         281 132         160 775

Supplier payables                                              66 782 926      34 496 106      46 696 216      30 058 657

Payables to subsidiaries                                                0      28 811 865               0       5 166 295

Tax liabilities                                                13 131 831       9 220 752      17 677 792      14 343 129

Accrued expenses

   Salary-related expenses                                      7 209 863       5 096 185      10 212 234       8 109 976

   Interest expenses                                            1 300 466       1 300 466         403 406         400 892

  Other accrued expenses                                           42 632               0          63 101          16 249

Total accrued expenses                                          8 552 961       6 396 651      10 678 741       8 527 117

Other prepaid revenues

   Rent prepayments                                               215 456         215 456         510 858         510 858

Total other prepaid revenues                                      215 456         215 456         510 858         510 858

TOTAL CURRENT LIABILITIES                                     117 797 869      90 183 597     108 028 713      85 190 974

NON-CURRENT LIABILITIES

   Long-term bank loans                                       119 051 618      89 500 000      39 904 844      11 000 000

   Potential income tax liability                              11 357 846      10 794 088       8 510 502       7 768 244

   Finance lease payments                                       9 561 295         866 998               0               0

   Non-current supplier payables                                  681 208         629 500               0               0

Other prepaid revenues

   Rent prepayments                                               127 486         127 486         342 942         342 942

Total other prepaid revenues                                      127 486         127 486         342 942         342 942

TOTAL NON-CURRENT LIABILITIES                                 140 779 453     101 918 072      48 758 288      19 111 186

TOTAL LIABILITIES                                             258 577 322     192 101 669     156 787 001     104 302 160

Minority interest                                               5 296 750               0       7 059 365               0

OWNERS' EQUITY

Share capital                                                  67 882 000      67 882 000      67 882 000      67 882 000

Mandatory reserve capital                                       4 891 281       4 579 933       2 870 588       2 842 310

Other reserves                                                    565 111         565 111         565 111         565 111

Retained earnings                                              48 464 562      48 775 910      22 521 005      22 549 283

Net profit (loss) for the year                                  8 179 615       8 179 615      34 752 451      34 752 451

Exchange differences                                             - 28 848               0        - 43 645               0

TOTAL OWNERS' EQUITY                                          129 953 719     129 982 568     128 547 509     128 591 154

TOTAL LIABILITIES AND OWNERS' EQUITY                          393 827 791     322 084 237     292 393 876     232 893 315

 

 

 

Urmo Vallner

Member of the Management Board

+372 640 0200