MERKO EHITUS

BALANCE SHEET

30.06.1999

 

Consolidated, unaudited

in thousand EEK

 

                                                     30.06.1999    31.12.1998    30.06.1998

 

Cash and bank                                            19 999        14 199        13 869

Marketable securities                                    15 650        14 945        31 436

Accounts receivable                                      82 722       139 143        63 725

Allowance for doubtful accounts                             -30           -30

                     Total accounts receivable           82 692       139 113        63 725

Receivables from affiliated enterprises                   1 284         1 238         5 995

Other current receivables                                22 461        34 164        24 932

                     Total other receivables             23 745        35 402        30 927

 

Interests                                                   334           350         1 806

Other accrued income                                      3 320         1 778            10

                     Total accrued income                 3 654         2 128         1 816

 

Prepaid/refundable tax receivables                        7 330         5 488         4 830

Other prepaid expenses                                    3 712        11 158         1 314

                     Total prepaid expenses              11 042        16 646         6 144

 

Raw materials                                             2 691         2 078         2 424

Work-in-progress                                                       14 186         6 484

Finished goods                                           24 176           100           118

Merchandise purchased for resale                          3 810         8 229         6 883

Customer prepayments                                        677           370        19 885

                     Total inventories                   31 354        24 963        35 794

TOTAL CURRENT ASSETS                                    188 136       247 396       183 711

 

Shares in affiliated enterprises                         14 144        10 962         1 684

Other shares, units and bonds                             1 565         1 565         2 450

Other non-current receivables                            26 536        13 754         5 648

                     Total financial assets              42 245        26 281         9 782

 

Land and buildings                                       85 809        87 799        19 081

Building rights                                           7 787         7 762         8 727

Plant and equipment                                      11 296        14 098        13 279

Other equipment and fixtures                              8 890         6 437         6 500

Accumulated depreciation                                -16 326       -13 121       -10 749

Unfinished building                                       1 303           809        33 685

Prepayments for fixed assets                                  8            39         1 358

                     Total tangible assets               98 767       103 823        71 881

 

Development costs                                             3             8             3

Goodwill                                                  1 435         1 665         1 254

                     Total intangible assets              1 438         1 673         1 257

 

TOTAL NON-CURRENT ASSETS                                142 450       131 777        82 920

 

TOTAL ASSETS                                            330 586       379 173       266 631

 

 

Debentures (except bank loans)                            2 129           191           221

Current period repayments of long-term bank loans         1 725         3 456

Short-term loans from financial institutions              1 366        30 707

                     Total borrowings                     5 220        34 354           221

 

Customer prepayments                                     30 836        29 961        28 336

Supplier payables                                        46 166        59 786        50 076

 

Payables to subsidiaries and parent                       4 896         1 518

Payables to affiliated enterprises                        3 516         4 671             3

                     Total other payables                 8 412         6 189             3

 

Tax liabilities                                           6 595         3 238        10 289

 

Salary-related expenses                                   5 254         7 337         7 083

Interest payable                                            352           302

Other accrued expenses                                      831         1 294           256

                     Total accrued expenses               6 437         8 933         7 339

 

Short-term provisions                                     2 296         2 585         3 591

Other prepaid revenues                                   20 284        41 562        27 913

TOTAL CURRENT LIABILITIES                               126 246       186 608       127 768

 

Non-convertible borrowings                                8 068         8 125           244

Bank loans                                               32 544        26 544

                     Total long-term borrowings          40 612        34 669           244

 

Due to subsidiaries and parent                               42            42

Other long-term provisions                                2 012         2 315           355

TOTAL NON-CURRENT LIABILITIES                            42 666        37 026           599

 

Share capital                                            88 500        88 500        88 500

Capital surplus                                           2 950         2 950         2 950

Mandatory reserve capital                                 4 875         2 950         2 950

Retained earnings                                        49 305        20 270        20 270

Net profit for the year                                  12 882        38 483        21 101

Exchange differences                                        809             4

TOTAL OWNERS' EQUITY                                    159 321       153 157       135 771

 

MINORITY INTEREST                                         2 353         2 382         2 493

 

TOTAL LIABILITIES AND OWNERS' EQUITY                    330 586       379 173       266 631