AS PENNU COMPUTER TECHNOLOGY GROUP

BALANCE SHEET

30.09.98

 

Consolidated, unaudited               

in thousand EEK

                                                    group     group         parent        parent

                                                    30.09.98  30.06.98      30.09.98      30.06.98

ASSETS

CURRENT ASSETS

1. Cash and bank		                      2,162     1,625           384         1,024

 

2. Accounts receivable

  Customer receivables                                16,859    14,923        15,382        13,292

  Allowance for doubtful accounts                     (1,230)   (1,230)         (123)         (123)

  Total                                               15,629    13,693        15,259        13,169

 

3. Other receivables

  Receivables from subsidiaries                                                1,263           118

  Other current receivables                           24,081    25,191         6,750         1,290

  Total                                               24,081    25,191         8,013         1,408

 

4. Accrued income

  Interest receivables                                             271           113           605

  Dividend receivables                                   140       140           140           140

  Total                                                  140       411           253           745

 

5. Prepaid expenses

  Prepaid/ refundable taxes                            4,531     5,330         3,822         4,038

  Other prepaid expenses                               1,015       296           846            88

  Total                                                5,546     5,626         4,668         4,126

 

7. Inventories

  Raw material                                            11         8

  Finished goods                                       1,132     1,905         1,132         1,905

  Merchandise purchased for resale                    18,684    20,655        16,809        18,487

  Prepayments to suppliers                             2,147     1,113         2,141         1,113

  Total                                               21,974    23,681        20,082        21,505

 

TOTAL CURRENT ASSETS                                  69,532    70,227        48,659        41,977

 

NON-CURRENT ASSETS

 

8. Financial assets

  Stock and shares in subsidiaries                                  50        14,672        15,740

  Stock and shares in affiliated enterprises           1,744     1,702         1,794         1,702

  Non-current receivables from subsidiaries                                   16,002        22,000

  Other non-current receivables                       27,529    29,455         1,320           160

  Total                                               29,273    31,207        33,788        39,602

 

9. Non-current physical assets

  Land and buildings                                  59,531    59,531

  Plant and equipment                                  1,650     1,101         1,049           754

  Other equipment and fixtures                         3,552     3,593         2,502         2,389

  Accumulated depreciation                            (2,787)   (1,872)       (1,544)       (1,332)

  Total                                               61,946    62,353         2,007         1,811

 

10. Intangible assets

  Purchased patents, licences, etc.                      141       165            96           115

  Total                                                  141       165            96           115

 

TOTAL NON-CURRENT ASSETS                              91,360    93,725        35,891        41,528

 

TOTAL ASSETS                                         160,892   163,952        84,550        83,505

 

 

                                                    group     group         parent        parent

                                                    30.09.98  30.06.98      30.09.98      30.06.98

LIABILITIES AND OWNERS' EQUITY

LIABILITIES     

CURRENT LIABILITIES 

 

11. Debt obligations

  Debentures (except bank loans)                         842                     100            76

  Current period long-term debt repayment              8,520    10,912         5,246         6,357

  Loan from parent company

  Short-term loans from credit institutions           38,724    45,899        12,723        11,759

  Total                                               48,086    56,811        18,069        18,192

 

12. Customer prepayments for goods and services        3,136       207         3,064            17

 

13. Supplier payables

  Accounts payable                                    15,851    13,088        13,892        10,758

  Total                                               15,851    13,088        13,892        10,758

 

14. Other payables

  Payables to subsidiaries                                                     2,043         6,342

  Total                                                                        2,043         6,342

 

15. Tax liabilities                                    1,214       757           188           122

 

16. Accrued expenses

  Salary-related expenses                                526       647           308           311

  Interest payables                                      259     1,688            43         1,114

  Other accrued expenses                                  80       121            31            40

  Total                                                  865     2,456           382         1,464

 

17. Other prepaid income                               1,095     1,256

 

TOTAL CURRENT LIABILITIES                             70,247    74,575        37,638        36,895

 

NON-CURRENT LIABILITIES

 

18. Non-current payables

  Non-convertible debt                                   152                     224            72

  Non-current bank loans                              42,088    42,088         5,643         5,643

  Total                                               42,240    42,088         5,867         5,715

 

19. Deferred income tax                                  241       241           231           231

 

TOTAL NON-CURRENT LIABILITIES                         42,481    42,329         6,098         5,946

 

TOTAL LIABILITIES                                    112,728   116,904        43,736        42,841

 

20. Minority interest                                  6,881     5,829

 

OWNERS' EQUITY

 

21. Share capital in nominal value                    16,632    16,630        16,000        16,000

 

22. Capital surplus                                   15,006    15,006        15,006        15,006

 

23. Mandatory reserve capital                            555       555           553           553

 

24. Retained earnings			               9,017     4,823         9,105         4,823

 

25. Profit for the financial year                         73     4,205           150         4,282

 

TOTAL OWNERS' EQUITY 		                      41,283    41,219        40,814        40,664

 

TOTAL LIABILITIES AND OWNERS' EQUITY                 160,892   163,952        84,550        83,505