30.11.2001, Tallinna Farmaatsiatehas, TLN

TALLINNA FARMAATSIATEHAS

BALANCE SHEET



BALANCE SHEET, AS AT 30.09.2001



Consolidated/unaudited

in thousand EEK                             

					    31.12.2000 30.09.2001

A S S E T S



CURRENT ASSETS

Cash and bank accounts                             715      1,296

Customer receivables

    ACCOUNTS RECEIVABLE                          4,979      4,020

    ALLOWANCE FOR DOUBTFUL RECEIVABLES

    RESERVE                                         -          -

Total                                            4,979      5,316

Other receivables

    RECEIVABLES FROM PARENT COMPANY             30,375     19,285

    OTHER SHORT-TERM RECEIVABLES                    98        139

Total                                           30,473     19,425



Accrued income                                      37          0



Prepaid expenses                                   582        573



Inventories

    RAW MATERIAL                                12,134      8,445

    WORK-IN-PROGRESS                               565        802

    FINISHED GOODS                              11,654     15,887

    PREPAYMENTS TO SUPPLIERS                     1,331      1,668

Total                                           25,684     26,802



TOTAL CURRENT ASSETS                            62,471     52,117



NON-CURRENT ASSETS



Long-term investments                              449        449



Fixed assets

FIXED ASSETS IN NET BOOK VALUE                  33,636     32,450

CONSTRUCTION IN PROGRESS                           119      5,614

Total                                           33,755     38,064



Intangible assets                                3,216      2,785



TOTAL NON-CURRENT ASSETS                        37,420     41,297



TOTAL ASSETS                                    99,891     93,414





LIABILITIES AND SHAREHOLDERS’ EQUITY



LIABILITIES

CURRENT LIABILITIES

    CURRENT PORTION OF LONG-TERM DEBT            7,703      2,172

    SHORT-TERM BANK LOANS                          496        153

Total                                            8,200      2,326



Customers prepayments                               -          -

Accounts payable                                13,714      8,885

Other payables                                   3,882        999

Taxes payable                                      701        395



Accrued expenses                                 2,364      2,046



TOTAL CURRENT LIABILITIES                       28,860     14,652



NON-CURRENT LIABILITIES

Long-term debt obligations

    BANK LOANS                                  24,055     27,324

    PAYABLES TO PARENT COMPANY                  24,351     24,351



TOTAL NON-CURRENT LIABILITIES                   48,406     51,675



TOTAL LIABILITIES                               77,266     66,327



SHAREHOLDERS’ EQUITY

SHARE CAPITAL                                   12,500     12,500

RESERVES                                         2,316      2,316

RETAINED EARNINGS

(ACCUMULATED DEFICIT)                           -2,779      7,808

PROFIT (LOSS) FOR FINANCIAL YEAR                10,587      4,469

SHAREHOLDERS’ EQUITY TOTAL                      22,625     27,088



LIABILITIES AND SHAREHOLDERS’ EQUITY            99,891     93,414





Raivo Unt

Management Board member

+372 612 0201