Baltika                       BALANCE SHEET                     02/28/2002



CONSOLIDATED BALANCE SHEETS, 31.12.2001



BALANCE SHEET

unaudited,

in thousand EEK

                                       31.12.2001 31.12.2000

CURRENT ASSETS

Cash and bank                             12 626    15 298

Marketable securities                        574       431

Customer receivables                      56 115    45 335

Other receivables and prepaid expenses    10 802     9 222

Inventories                              131 145   105 501

TOTAL CURRENT ASSETES                    211 262   175 787

NON-CURRENT ASSETS

Long-term financial investments            2 600       817



Tangible assets                           78 390    54 746

Intangible assets                          5 180     1 886

TOTAL NON-CURRENT ASSETS                  86 170    57 449

TOTAL ASSETS                             297 432   233 236



LIABILITIES AND OWNERS´ EQUITY

CURRENT LIABILITIES

Debt obligations                          34 721    51 637

Customer prepayments                         154       732

Supplier payables                         40 544    28 617

Tax liabilities                            5 081     6 167

Accured expenses                           6 641     7 622

Current provisions                           -         120

Total current liabilities                 87 141    94 895

Long-term liabilities

Long-term liabilities                     63 723     1 344

Pikaajalised kohustused kokku             63 723     1 344

TOTAL LIABILITIES                        150 864    96 239

Minority interest                          6 632     9 172

OWNERS´ EQUITY                           139 936   127 825

Share capital in nominal value            48 000    48 000

Share premium                             24 910    24 910

Reserves                                  22 885    22 885

Retained earnings                         28 430    17 768

Net profit for the financial year         15 711    14 262

TOTAL LIABILITIES AND OWNERS´ EQUITY     297 432   233 236





 

BALANCE SHEET

unaudited

in thousand EUR

                                       31.12.2001 31.12.2000

CURRENT ASSETS

Cash and bank                                807       978

Marketable securities                         37        28

Customer receivables                       3 586     2 897

Other receivables and prepaid expenses       690       589

Inventories                                8 382     6 743

TOTAL CURRENT ASSETES                     13 502    11 235

NON-CURRENT ASSETS

Long-term financial investments              166        52



Tangible assets                            5 010     3 499

Intangible assets                            331       121

TOTAL NON-CURRENT ASSETS                   5 507     3 672

TOTAL ASSETS                              19 009    14 906



LIABILITIES AND OWNERS´ EQUITY

CURRENT LIABILITIES

Debt obligations                           2 219     3 300

Customer prepayments                          10        47

Supplier payables                          2 591     1 829

Tax liabilities                              325       394

Accured expenses                             424       487

Current provisions                           -           8

Total current liabilities                  5 569     6 065

Long-term liabilities

Long-term liabilities                      4 073        86

Pikaajalised kohustused kokku              4 073        86

TOTAL LIABILITIES                          9 642     6 151

Minority interest                            424       586

OWNERS´ EQUITY                             8 944     8 169

Share capital in nominal value             3 068     3 068

Share premium                              1 592     1 592

Reserves                                   1 463     1 463

Retained earnings                          1 817     1 136

Net profit for the financial year          1 004       912

TOTAL LIABILITIES AND OWNERS´ EQUITY      19 009    14 906





Ülle Järv

Management Board member

+372 6302 741