AS PENNU COMPUTER TECHNOLOGY GROUP

CASH FLOW STATEMENT

01.07-31.12.98

 

Unconsolidated, unaudited

In thousand EEK

 

                                                  parent        parent

                                            II half 1998  II half 1997

Cash flow from operating activities

 

Sources

   Gross profit                                  -30,279         5,780

   Depreciation of non-current assets                415           371

   Total sources                                 -29,864         6,152

 

Usage

   Customer receivables                            3,776       -10,910

   Other receivables                              -1,411         6,481

   Accrued income                                    323          -487

   Prepaid expenses                               -1,192        -1,238

   Other prepaid expenses                         -1,336           -41

   Inventories                                     9,543        -5,555

   Prepayments to suppliers                          303           638

   Total change in current assets (except 

   cash and bank)		                  10,006       -11,113

 

   Debentures (except bank loans)                     -8           -54

   Customer prepayments for goods and services        34         1,790

   Supplier payables                                -450         7,837

   Payables to subsidiaries                       -6,282        28,525

   Tax liabilities                                   203           -19

   Accrued expenses                                 -972           548

   Other prepaid revenues

   Long-term non-convertible debt                    152             0

   Deferred income tax                                 0             0

   Total change in current liabilities

   (except bank loan) and non-current

   non-convertible debt                           -7,322        38,628

 

Change in cash and cash equivalents after

operating activities		                 -27,180        33,667

 

Cash flow from investing activities

 

Sources

   Marketable securities                               0         1,415

   Total sources                                       0         1,415

 

 

Usage

   Shares in subsidiaries                         14,333        -9,037

   Shares in affiliated companies                  1,702          -455

   Acquisition of non-current assets                -335            96

   Total                                          15,700        -9,395

 

Change in cash and cash equivalents after 

investing activities 			         -11,480        25,686

 

Cash flow from financing activities

 

Sources

   Current period long-term debt repayment          -166             0

   Long-term bank loans                           -2,077             0

   Short-term loans from credit institutions         468       -15,359

   Total sources                                  -1,775       -15,359

 

Usage

   Non-current receivables from subsidiaries      14,986       -11,440

   Other non-current receivables                  -2,300             0

   Dividends paid                                               -1,600

   Total                                          12,685       -13,040

 

Change in cash and cash equivalents after

financing activities			            -570        -2,713

 

Control: change in cash and cash equivalents 

according to balance sheet data 	            -570        -2,713