HÜVITUSFOND

BALANCE SHEET

31.12.98

 

Audited,

in full EEK

 

ASSETS                                                31.12.1998      31.12.1997

                                                                        proforma

CURRENT ASSETS                                                                    

1.Cash and bank                                      154,115,014     117,546,996

2.Marketable securities                              268,005,356     513,720,133

   2.1.Bonds                                         162,807,617      91,244,240

   2.2.Shares and units                              105,197,739     422,475,893

3.Other receivables                                  220,108,041     333,368,902

   3.1.Receivables from subsidiaries                  31,000,000      22,788,649

   3.2.Receivables from associated companies          54,345,958      47,886,837

   3.3.Other current receivables                     134,762,083     262,693,416

4.Accrued income                                      38,592,652      35,448,235

5.Prepaid expenses		                       5,142,689      16,070,697

   5.1.Prepaid/refundable tax receivables                460,531       1,139,374

   5.2.Other prepaid expenses			       4,682,158      14,931,323

Total current assets                                 685,963,752   1,016,154,963

                                                                                

NON-CURRENT ASSETS

6.Long-term financial investments                    744,280,094     752,569,870

   6.1.Units and shares in subsidiaries               20,182,297      17,974,804

   6.2.Non-current receivables from subsidiaries      45,600,000      77,370,000

   6.3.Units and shares in

       associated companies                           20,377,096      28,568,107

   6.4.Non-current receivables from 

       associated companies     		      33,869,215      96,435,599

   6.5.Other shares                                      266,000         265,000

   6.6.Other non-current investments                  17,674,945      11,353,011

   6.7.Other non-current receivables                 756,292,122     552,166,068

   6.8.Allowance for doubtful accounts              -149,981,581     -31,562,719

7.Tangible assets                                     16,425,862      14,495,218

   7.1.Non-current assets                             21,095,948      17,689,944

   7.2.Accumulated depreciation                       -4,670,086      -3,194,726

8.Intangible assets                                      235,882         386,242

Total non-current assets                             760,941,838     767,451,330

                                                                                

TOTAL ASSETS                                       1,446,905,590   1,783,606,293

                                                                                

LIABILITIES AND OWNERS' EQUITY 

LIABILITIES

Current liabilities                                                         

9.Debt obligations to credit institutions            263,137,037     181,674,211

   9.1. Bonds issued                                 240,000,000               0

   9.2. Other short-term loans                        23,137,037     181,674,211

10.Supplier payables                                     870,084       2,754,176

11.Payables to subsidiaries                                    0          10,352

12.Other payables                                      4,977,387      34,001,717

13.Tax liabilities                                       402,743         568,083

14.Accrued expenses                                   17,886,690      21,898,153

   14.1.Interests                                     17,583,038      21,500,468

   14.2.Salary-related payables                          303,652         397,685

Total current liabilities                            287,273,941     240,906,692

                                                                                

Non-current liabilities                                                        

15.Bonds issued                                      438,261,400     375,006,800

16.Other debt instruments issued                               0     240,000,000

17. Other non-current liabilities                      1,105,893         707,490

Total non-current liabilities                        439,367,293     615,714,290

                                                                                

18.Fund in the beginning of period                   926,985,311     631,355,780

19.Change                                           -206,720,955     295,629,531

20.Fund at the end of period                         720,264,356     926,985,311

                                                                                

TOTAL LIABILITIES AND OWNERS' EQUITY               1,446,905,590   1,783,606,293