TALLINNA KÜLMHOONE

BALANCE SHEET



CONSOLIDATED BALANCE SHEET 31.12.99



Consolidated, unaudited

in thousand EEK

                                                 31.12.99 31.12.98



ASSETS

Cash and marketable securities                       3171     1843

Customer receivables                                26762    17681

Other receivables                                    1250     5442

TOTAL LIQUID ASSETS                                 31183    24966



Finished goods                                       7313     2621

Inventories                                          7373     7764

Work-in-progress                                       81       10

Goods and other                                     16867    13642

TOTAL GOODS AND INVENTORIES                         31634    24037

TOTAL CURRENT ASSETS                                62817    49003



Long-term financial assets                                    6152

Non-current assets and unrealized capital invest   122112   121573

Intangible assets

Goodwill                                             2647     3529

TOTAL NON-CURRENT ASSETS                           124759   131254

TOTAL ASSETS                                       187576   180257



LIABILITIES AND OWNERS EQUITY

SHORT-TERM LOANS                                    25374    24044

Supplier payables                                   20556    21454

Customer prepayments                                    2       15

Salary-related accrued expenses                      3777     3391

Tax liabilities                                      3137     1492

Other short-term payables                             623      847

TOTAL CURRENT LIABILITIES                           53469    51243



NON-CURRENT LIABILITIES                             55864    68919

TOTAL LIABILITIES                                  109333   120162



MINORITY INTEREST                                     447      272

Share capital                                       33870    33870

Capital surplus                                     49000    49000

Restricted reserves                                  1086      586

Retained earnings                                  -24130   -32976

Net profit for the year                             17972     9346

Treasury shares                                        -3       -3

TOTAL OWNERS EQUITY                                 77795    59823

TOTAL LIABILITIES AND OWNERS EQUITY                187576   180257





Evald Karu

Financial Director

+372 22 13 369