Last update: 22.11.2024 14:26 (GMT+2)
Tallinna Farmaatsiatehase AS FINANCIAL RESULTS 8 November 2005
FINANCIAL RESULTS 3Q 2005
COMMENTS TO INCOME STATEMENT, 9M/2005.
The 09 months 2005 net sales of Tallinna Farmaatsiatehas amounted to 33,942 th.
EEK (2,169 th. EUR). Compared to the same period of previous year the sales were
decreased by 15,666 th EEK (1 001 th. EUR) i.e. 31.5% (net turnover in 09 months
2004 49,608 th. EEK or 3.171 th.EUR). The operating income total decreased
(operating income in 2004 45.816 th. EEK (2.928 th.EUR) and in 2005 33,281 th.
EEK (2,127 th.EUR) by 12,535 th. EEK or 801 th EUR (27.4%).
Compared to the same period of previous year the total operating cost decreased
by 6,615 th. EEK (423 th EUR) i.e. 15.7% (total operating costs in 2004 42,091
th. EEK (2.690 th.EUR) and in 2005 35.476 th. EEK (2.267 th.EUR)), from which the
decrease of operating expenses (in 2004 7,657 th. EEK (489 th. EUR) and in 2005
3,140 th. EEK (201 th.EUR)) 4,517 th.EEK or 269 th EUR (55.0%).
Operating profit decreased in 09 months of 2005 compared (net profit in 2004
3,726 th. EEK (238 th.EUR) and operating loss in 2005 -2 195 th. EEK (140
th.EUR)) to the same period of 2004 by 5,921 th. EEK (378 th.EUR) , and net
profit decreased (net profit in 2004 3,652 th. EEK (233 th.EUR) and net loss in
2005 2 208 th. EEK (141 th.EUR)) by 5,860 th. EEK (374 th. EUR).
COMMENTS TO BALANCE SHEET
As of September 30. 2005 the Balance capacity was 54,807 th. EEK (3,503 th EUR).
Compared to the net balance, the biggest decrease was in receivables from parent
company 7,743 th. EEK (495 th. EUR) (29.5%) and finished goods decrease with the
sum 1,042 th. EEK (67 th.EUR) (46.9%). Trading assets decreased totally by 6,428
th. EEK (410 th.EUR) (20.3%).
In the liabilities the short-term liabilities decreased 4,859 th. EEK (310
th.EUR) (48.0%). Compared to the net balance, the biggest decrease was in
liabilities - accounts payable 4,182 th. EEK (267 th.EUR) (57,2%). The owners'
equity decreased 2 209 th. EEK (141 th.EUR)) (4.3%) in the account of 09 months
2005 net loss.
BALANCE SHEET AS OF 30.09.2005 unaudited
in thousand EEK/EUR EEK EUR
31.12.2004 30.09.2005 31.12.2004 30.09.2005
A S S E T S
CURRENT ASSETS
Cash and bank accounts 308 1 013 19 65
Customer receivables
ACCOUNTS RECEIVABLE 16 46 1 3
Other receivables
RECEIVABLES FROM PARENT COMPANY 26,270 18,528 1,679 1,184
OTHER SHORT-TERM RECEIVABLES 480 407 30 26
Total 27,074 19,994 1,730 1,278
Inventories
RAW MATERIAL 2,321 3,864 148 247
WORK-IN-PROGRESS 108 260 7 16
FINISHED GOODS 2 224 1 181 142 75
PREPAYMENTS TO SUPPLIERS 0 0 0 0
Total 4,654 5,305 297 339
TOTAL CURRENT ASSETS 31,728 25,299 2,028 1,617
NON-CURRENT ASSETS
Long-term investments 105 0 7 0
Fixed assets
FIXED ASSETS IN NET BOOK VALUE 29,649 29,181 1,894 1,865
Total 29,649 29,181 1,894 1,865
Intangible assets 392 327 25 21
TOTAL NON-CURRENT ASSETS 30,146 29,508 1,926 1,886
TOTAL ASSETS 61,874 54,807 3,954 3,503
LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
CURRENT LIABILITIES
CURRENT PORTION OF
LONG-TERM DEBT 0 0 0 0
SHORT-TERM BANK LOANS 767 199 49 13
CUSTOMER PREPAYMENTS 0 0 0 0
Total 767 199 49 13
Accounts payable 7,317 3,135 467 200
Taxes payable and accrued expenses 2,028 1,921 129 123
TOTAL CURRENT LIABILITIES 10,114 5,255 646 336
NON-CURRENT LIABILITIES
Long-term debt obligations
BANK LOANS 536 536 34 34
PAYABLES TO PARENT COMPANY 0 0 0 0
TOTAL NON-CURRENT LIABILITIES 536 536 34 34
TOTAL LIABILITIES 10,650 5,791 680 370
SHAREHOLDERS' EQUITY
SHARE CAPITAL 12,500 12,500 799 799
RESERVES 2,316 2,316 148 148
RETAINED EARNINGS
(ACCUMULATED DEFICIT) 36,407 36,407 2,326 2,326
PROFIT (LOSS) FOR FINANCIAL YEAR 0 -2,208 0 -141
SHAREHOLDERS' EQUITY TOTAL 51,223 49,015 3,274 3,133
LIABILITIES AND SHAREHOLDERS'
EQUITY 61,874 54,807 3,954 3,503
INCOME STATEMENT, 9 M/2005 unaudited
in thousand EEK/EUR EEK EUR
2004 2005 2004 2005
REVENUE
NET SALES 49,608 33,942 3,171 2,169
CHANGE IN WORK-IN-PROGRESS AND
FINISHED GOODS INVENTORIES -5,620 -891 -359 -57
OTHER OPERATING INCOME 1,828 230 116 15
TOTAL REVENUE 45,816 33,281 2,928 2,127
EXPENSES
MATERIALS, CONSUMABLES AND SUPPLIES -22,273 -20,335 -1 424 -1 299
OTHER OPERATING EXPENSES -7,657 -3,140 -489 -201
PERSONNEL EXPENSES -8,989 -9,520 -575 -608
DEPRECIATION -2,773 -2,299 -176 -147
OTHER EXPENSES -398 -182 -26 -12
TOTAL EXPENSES -42,091 -35,476 -2,690 -2,267
OPERATING PROFIT (-LOSS) 3,726 -2,195 238 -140
FINANCIAL INCOME/EXPENSES -74 -13 -5 -1
NET PROFIT (LOSS) 3,652 -2,208 233 -141
EARNINGS (LOSS) PER SHARE 2.92 -1.77 0.19 -0.11
Raivo Unt
Director of finance
+372 6120 201
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