AS BALTIKA                                                      

BALANCE SHEET

31.10.98

 

In thousand EEK

Unaudited, unconsolidated                                  

                                                                

                                                                

ASSETS                                31.10.98 01.01.98 31.10.97

CURRENT ASSETS                                                       

Cash and bank                            1,264    4,923    3,668

Marketable securities                      801    1,471    4,204

Accounts receivable                     40,308   38,501   37,343

Other receivables and                   37,873   24,942   28,586

accrued income

Prepaid expenses and taxes               7,749    3,150    5,029

Total inventories:                      63,764   63,005   54,546

Raw materials                           19,914   26,761   16,728

Merchandise purchased for sale               1        -       34

Finished goods                          36,783   26,616   29,216

Work-in-process                          6,789    9,103    8,075

Prepayments to suppliers                   277      525      493

TOTAL CURRENT ASSETS                   151,759  135,992  133,376

NONCURRENT ASSETS                                                       

Financial assets                        20,877   18,358   15,709

Total noncurrent physical assets        34,524   30,126   29,782

Land and buildings                      21,915   19,778   17,134

Plant and equipment                     43,194   40,230   39,468

Other equipment and fixtures             8,914    5,621    5,729

Accumulated depreciation              (41,654) (36,147) (35,468)

Prepayments for noncurrent assets and    2,155      643    2,919

unfinished building

Intangible assets                        1,095      877      530

TOTAL NONCURRENT ASSETS                 56,496   49,361   46,021

TOTAL ASSETS                           208,255  185,353  179,397

                                                                

                                                                

                                                                

LIABILITIES AND OWNERS' EQUITY        30/09/98   1/1/98 30/09/97

CURRENT LIABILITIES                                         

Debt obligations                        50,739   42,925   42,241

Customer prepayments for goods               4        -      165

Supplier payables                       15,026   16,458    7,922

Other payables                             649       95        -

Tax liabilities                          1,629    3,270    1,810

Accrued expenses                         5,579    3,655    5,994

Current provisions                           -        -        -

TOTAL CURRENT LIABILITIES               73,626   66,403   58,132

NONCURRENT LIABILITIES                                         

Noncurrent debt obligations             14,625    4,456    7,132

Noncurrent provisions                      134      135    1,130

TOTAL NONCURRENT LIABILITIES            14,759    4,591    8,262

TOTAL LIABILITIES                       88,385   70,994   66,394

OWNERS' EQUITY                                                      

Share capital                           48,000   48,000   48,000

Paid-in capital over par                23,980   23,889   23,889

Other restricted reserves               22,885   22,885   22,885

Retained earnings                       17,345    8,571    8,571

Net profit (-loss) for finacial year     8,206   11,174    9,658

Treasury stock (minus)                   (546)    (160)        -

TOTAL OWNERS' EQUITY                   119,870  114,359  113,003

TOTAL LIABILITIES AND OWNERS' EQUITY   208,255  185,353  179,397

                                                                

                                                                

Meelis Milder                                                   

Chairman of the Management Board