AS FAKTO

BALANCE SHEET

31.12.98

 

Consolidated, audited

 

ASSETS                                                             Group           Group        AS Fakto        AS Fakto

Current assets                                                  31.12.98        31.12.97        31.12.98        31.12.97

 

  Cash and bank                                                 4 975 462       3 227 105         178 513         233 792

 

     Accounts receivable

     Customer receivables                                      19 051 378      19 218 671       3 328 076       6 711 802

     Allowance for doubtful accounts (less)                    -1 813 101      -1 159 930        -367 799        -293 112

  Total accounts receivable                                    17 238 277      18 058 741       2 960 277       6 418 690

 

     Other receivables

     Receivables from subsidiaries and parent company                 -10               0      9 741 528       3 366 342

     Other current receivables                                  8 282 317       6 644 652       3 199 385       1 002 797

  Total other receivables                                       8 282 307       6 644 652      12 940 912       4 369 139

 

     Accrued income

     Calculated interests                                         112 446              993        114 153          33 663

  Total accrued income                                            112 446              993        114 153          33 663

 

     Prepaid expenses and prepaid/refundable tax receivables

     Prepaid/refundable tax receivables                         3 369 067       4 462 027         458 142               0

     Prepaid expenses                                             434 478         439 994         156 092          71 621

  Total prepaid expenses and prepaid/refundable tax receivables 3 803 546       4 902 022         614 235          71 621

 

     Inventories

     Raw materials                                                  7 784          10 360           7 784          10 360

     Work-in-progress                                             385 838         248 201         385 838         248 201

     Merchandise purchased for resale                          30 045 026      21 840 009       5 814 153       5 427 165

     Prepayments to suppliers                                     294 183         635 397                0        401 726

  Total inventories                                            30 732 831      22 733 967       6 207 776       6 087 452

 

Total current assets                                           65 144 868      55 567 480      23 015 865      17 214 357

 

Non-current assets

     Financial assets

     Stock and shares in subsidiaries                                   0               0     11 583 488      10 225 299

     Goodwill                                                   1 297 341       1 677 057       1 297 341       1 677 057

     Stock and shares in affiliated companies                     400 000         400 000         400 000         400 000

     Other non-current receivables                              7 519 062               0               0               0

  Total financial assets                                        9 216 403       2 077 057      13 280 829      12 302 356

 

     Tangible assets

     Land and building (acquisition cost)                      72 074 092      49 171 680      47 403 807      47 403 807

     Plant and equipment (acquisition cost)                    14 150 666      11 103 458       7 956 999       7 009 481

     Other equipment and fixtures                               5 998 439       5 507 438       2 170 892       1 968 183

     Accumulated depreciation (less)                          -19 761 140     -15 515 607     -15 844 955     -12 583 901

  Total tangible assets                                        72 462 057      50 266 969      41 686 743      43 797 570

 

     Intangible assets

     Purchased  patents, licenses, trademarks, etc.               246 320         123 120         124 382          21 095

  Total intangible assets                                         246 320         123 120         124 382          21 095

 

Total non-current assets                                       81 924 779      52 467 146      55 091 954      56 121 021

 

Total assets                                                  147 069 647     108 034 626      78 107 819      73 335 378

 

 

Liabilities and owners' equity

Current liabilities

 

     Short-term debt obligations

     Long-term debt repayments                                  5 309 222       3 998 134       2 191 780       2 191 780

     Short-term loans from financial institutions               3 418 353       3 817 846       3 418 353       3 188 605

     Other debt obligations                                     4 150 726         600 000         407 418         662 558

  Total debt obligations                                       12 878 301       8 415 980       6 017 551       6 042 943

 

  Customer prepayments                                          1 790 758       4 422 989         774 513       2 766 536

 

  Supplier payables                                            44 990 030      34 409 115      16 965 026      12 807 142

 

  Other payables

     Other payables                                                     0          38 897                0               0

     Total other payables                                               0          38 897                0               0

 

  Tax liabilities                                               4 465 383       3 323 079       2 582 509       2 453 415

 

     Accrued expenses

     Salary-related accrued expenses                            2 706 499       1 441 495       1 378 429         748 920

     Dividends payable                                                  0           1 074                0          1 074

     Interests payable                                          2 008 651          54 773          31 707          32 056

     Other accrued expenses                                       279 219       2 603 561         245 963          16 259

     Total accrued expenses                                     4 994 369       4 100 903       1 656 098         798 309

 

Total current liabilities                                      69 118 841      54 710 963      27 995 698      24 868 345

 

Non-current liabilities

 

     Long-term debt obligations

     Non-convertible long-term debt                             8 804 900         532 000         162 606         532 000

     Bank loans                                                27 067 412      14 334 953      11 643 825      13 835 605

     Other long-term debts to financial institutions                    0       1 234 630                0               0

  Total long-term debt obligations                             35 872 312      16 101 583      11 806 431      14 367 605

 

     Other long-term payables

     Long-term customer prepayments                                     0         108 169                0               0

     Future period income tax payable                           2 294 491       2 508 189       2 254 573       2 265 330

  Total other long-term payables                                2 294 491       2 616 358       2 254 573       2 265 330

 

Total non-current liabilities                                  38 166 803      18 717 942      14 061 004      16 632 935

 

Total liabilities                                             107 285 644      73 428 905      42 056 702      41 501 280

 

  Minority interest in subsidiaries                             3 732 887       2 771 624

 

Owners' equity

  Share capital in nominal value                               16 500 630      16 500 630      16 500 630      16 500 630

  Capital surplus                                               7 307 114       7 307 114       7 307 114       7 307 114

  Mandatory reserve capital                                       502 064         281 000         502 064         281 000

  Retained earnings                                             6 451 750       2 978 403       6 451 750       3 324 079

  Profit/loss for the financial year                            5 289 559       4 766 950       5 289 559       4 421 275

  Total owners' equity                                         36 051 117      31 834 097      36 051 117      31 834 098

 

Total liabilities and owners' equity                          147 069 647     108 034 626      78 107 819      73 335 378