Last update: 21.07.2024 19:09 (GMT+3)
Merko Ehitus FINANCIAL RESULTS 03/18/2004
AUDITED FINANCIAL RESULTS 2003
Income statement 2003
consolidated, audited in thousand EEK and EUR
EEK EUR
2003 2002 2003 2002
Sales 2 707 663 1 669 597 173 051 106 706
Cost of sales (2 429 125) (1 499 283) (155 249) (95 821)
Gross profit 278 538 170 314 17 802 10 885
Marketing expenses (15 832) (14 118) (1 012) (902)
Administrative expenses (73 347) (49 821) (4 688) (3 184)
Other operating income 15 326 2 156 980 138
Other operating expenses (2 137) (10 015) (137) (640)
Operating profit 202 548 98 516 12 945 6 296
Financial income and expenses
from stocks of subsidiaries 542 0 35 0
Financial income and expenses
from stocks of associates 4 446 2 739 284 175
Financial income and expenses from
other noncurrent fin. invest. 1 084 1 674 69 107
Interest expense (2 503) (805) (160) (51)
Foreign exchange gain (2 692) (3 739) (172) (239)
Other financial income and
expense (5 684) 4 386 (363) 280
Total financial income and
expenses (4 807) 4 255 (307) 272
Profit before taxes 197 741 102 771 12 638 6 568
Income tax (10 901) (3 209) (697) (205)
Net profit for the
financial year 186 840 99 562 11 941 6 363
Minority interest (2 367) (699) (151) (45)
Net profit for the group 184 473 98 863 11 790 6 318
Net profit per share
(basic and diluted, in EEK&EUR) 20,84 11,17 1,33 0,71
Balance sheet as of 31.12.2003
consolidated, audited in thousand EEK and EUR
EEK EUR
31.12.2003 31.12.2002 31.12.2003 31.12.2002
Cash and cash equivalents 240 152 96 310 15 348 6 155
Marketable securities 36 096 53 018 2 307 3 388
Accounts receivable 408 296 164 714 26 095 10 528
Other receivables 27 385 25 339 1 750 1 619
Accrued income 673 1 403 43 90
Prepaid expenses 21 180 14 433 1 354 922
Inventories 255 263 224 340 16 314 14 338
TOTAL CURRENT ASSETS 989 045 579 557 63 211 37 040
Long-term financial assets 32 489 46 241 2 077 2 955
Real-estate investments 52 869 35 308 3 379 2 257
Noncurrent physical assets 73 051 50 390 4 669 3 221
Intangible assets (1 592) (5 283) (102) (338)
TOTAL NON-CURRENT ASSETS 156 817 126 656 10 023 8 095
TOTAL ASSETS 1 145 862 706 213 73 234 45 135
Debt obligations 12 447 12 805 796 818
Customer prepayments 17 881 42 820 1 143 2 737
Merchandise credit 267 597 178 151 17 103 11 386
Other payables 24 199 4 712 1 547 301
Tax liabilities 21 352 16 351 1 365 1 045
Accrued expenses 21 095 19 976 1 348 1 277
Current provisions 286 728 108 285 18 324 6 921
TOTAL CURRENT LIABILITIES 651 299 383 100 41 626 24 485
Long-term payables 16 399 2 604 1 048 166
Other long-term payables 9 532 14 900 609 952
TOTAL NON-CURRENT LIABILITIES 25 931 17 504 1 657 1 118
TOTAL LIABILITIES 677 230 400 604 43 283 25 603
Share capital 88 500 88 500 5 656 5 656
Share premium 2 950 2 950 189 189
Mandatory legal reserve 8 850 8 850 566 566
Retained earnings 180 430 101 480 11 531 6 486
Net profit for the financial year184 473 98 863 11 790 6 318
Exchange rate differences (1 380) 174 (88) 11
TOTAL OWNERS' EQUITY 463 823 300 817 29 644 19 226
Minority interest 4 809 4 792 307 306
TOTAL LIABILITIES AND
OWNERS' EQUITY 1 145 862 706 213 73 234 45 135
Alar Lagus
Management Board member
+372 6 805 109