HARJU ELEKTER

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, AS AT 30.06.01



Consolidated, unaudited

in thousand EEK                                 Group            Parent

                                          30.06.01 31.12.00 30.06.01 31.12.00



ASSETS

Cash, bank                                   8,860    8,142    8,598    8,119

Marketable securities                          435      402      435      402

Total customer receivables                  12,567   15,868    9,986   11,477

Other current receivables                    2,374    2,484    4,729    7,129

Accrued income                                   0       34        0       34

Prepaid expenses                             1,150    1,540      971    1,223

Total current receivables                   16,091   19,926   15,686   19,863

Inventories                                 20,548   19,462   12,709   12,341

Goods                                        3,576    3,331    3,524    3,295

Prepayments to suppliers                         9        8        0        0

Total inventories                           24,133   22,801   16,233   15,635

TOTAL CURRENT ASSETS                        49,518   51,272   40,952   44,019

Stock and shares in subsidiaries                 0        0    9,160    7,629

Other receivables from subsidiaries              0        0       53       53

Stock and shares in associated companies    20,007   19,399   20,007   19,399

Other shares                                 3,959    3,997    3,959    3,997

Other long-term receivables                    522      522      522      522

Total financial investments                 24,489   23,918   33,701   31,600

Plant and equipment                         73,995   72,906   73,851   72,799

Other equipment and fixtures                39,064   37,597   24,478   23,200

Other inventory                              3,530    3,371    2,686    2,625

Accumulated depreciation                   -28,009  -24,412  -24,546  -21,733

Fixed assets under construction                625        0      625        0

Prepayments for fixed assets                   189        0      189        0

Total tangible assets                       89,395   89,462   77,284   76,892

Licences                                       365      421      365      421

Goodwill                                       160      208        0        0

Total intangible assets                        525      629      365      421

TOTAL NON-CURRENT ASSETS                   114,408  114,010  111,350  108,913

TOTAL ASSETS                               163,927  165,282  152,302  152,932

LIABILITIES AND OWNERS' EQUITY

Debt obligations                             8,314   11,182    5,163    7,688

Customer prepayments                           225      326      225      326

Supplier payables                           11,183   11,793    9,885   10,124

Other short-term borrowings                    586      381      635      621

Tax liabilities                              4,931    5,731    4,512    5,315

Accrued expenses                             3,001    6,317    2,481    5,592

TOTAL CURRENT LIABILITIES                   28,241   35,730   22,901   29,665

TOTAL NON-CURRENT LIABILITIES               17,902   17,902   11,616   11,616

TOTAL LIABILITIES                           46,142   53,631   34,518   41,281

Share capital                               54,000   54,000   54,000   54,000

Restricted reserves                          6,510    3,610    6,510    3,610

Retained earnings                           44,162   24,864   44,162   24,864

Net profit for the year                     13,113   29,176   13,113   29,176

TOTAL OWNERS' EQUITY                       117,784  111,650  117,784  111,650

TOTAL LIABILITIES AND OWNERS' EQUITY       163,927  165,282  152,302  152,932





Karin Padjus

Chief Accountant

+372 67 47 403





Lembit Libe

Chief Economist

+372 67 47 412