AS RAKVERE LIHAKOMBINAAT

BALANCE SHEET

 

09/1999 BALANCE SHEET

 

Consolidated, unaudited                               Group     Group    Parent    Parent

in thousand EEK                                    30.09.99  31.12.98  30.09.99  31.12.98

 

ASSETS

 

Current assets

Cash and bank                                        16,048    10,185     9,511     1,670

Customer receivables

Accounts receivable                                  69,844    70,548    46,598    51,241

Allowance for doubtful accounts (less)              -12,707   -11,749   -12,403   -11,749

Total customer receivables                           57,137    58,799    34,195    39,492

Other receivables

Receivables from subsidiaries and parent company        182         4    60,488    68,800

Other current receivables                             1,536       183     1,393       133

Total other receivables                               1,718       187    61,881    68,933

Accrued income

Interest receivable                                                       2,169       388

Other accrued income                                              612

Total accrued income                                      0       612     2,169       388

Prepaid expenses

Prepaid/refundable tax receivables                   10,602     7,625       435        48

Other prepaid expenses                                2,254     2,838       772     1,692

Total prepaid expenses                               12,856    10,463     1,207     1,740

Inventories

Raw materials                                        55,396    62,689    36,750    44,769

Work-in-progress                                     37,024    35,817       493       314

Finished goods                                       10,134    18,928     7,474    14,544

Merchandise purchased for resale                      8,058     4,577       334       746

Prepayments to suppliers                                873       769       316       468

Total inventories                                   111,485   122,780    45,367    60,841

Total current assets                                199,244   203,026   154,330   173,064

 

Non-current assets

Long-term financial assets

Stock and shares in subsidiaries                                         23,351    27,933

Non-current receivables from subsidiaries and parent company            117,873     1,253

Other shares, units and bonds                         1,515     1,475     1,470     1,470

Other non-current receivables                         1,996     1,335     1,996     1,288

Total long-term financial assets                      3,511     2,810   144,690    31,944

Tangible assets

Land and building (acquisition cost)                310,499   308,358   219,859   219,555

Plant and equipment (acquisition cost)              471,214   472,735   385,409   394,764

Other equipment and fixtures                         60,816    56,328    29,117    27,543

Accumulated depreciation (less)                    -483,362  -446,178  -389,527  -368,044

Fixed assets under construction                      26,653    27,926     1,000     2,213

Prepayments for fixed assets                          2,305     3,077       615     1,188

Total tangible assets                               388,125   422,246   246,473   277,219

Intangible assets

Development costs                                     3,627     1,857     3,031     1,496

Goodwill

Total intangible assets                               3,627     1,857     3,031     1,496

Total non-current assets                            395,263   426,913   394,194   310,659

 

Total assets :                                      594,507   629,939   548,524   483,723

 

 

Liabilities and owners' equity                        Group     Group    Parent    Parent

                                                   30.09.99  31.12.98  30.09.99  31.12.98

Current liabilities

Debt obligations

Debentures (except bank loans)                        8,808   104,260     8,531   103,447

Convertible debt                                        775     1,640

Current period repayment of long-term debt            3,455    10,057

Short-term loans from financial institutions                   48,091              21,237

Total current liabilities                            13,038   164,048     8,531   124,684

Customer prepayments                                    401       848                  51

Supplier payables

Accounts payable                                     47,920    63,187    23,160    33,721

Notes payable                                        47,920    63,187    23,160    33,721

Total accounts payable

Payables to subsidiaries and parent company           3,593     2,809     4,453     3,564

Total other payables                                  3,593     2,809     4,453     3,564

Tax liabilities                                       8,100     8,358     2,886     4,734

Accrued expenses

Salary-related accrued expenses                       6,822     8,574     4,554     6,066

Interest payable                                      1,316     2,824     1,316     2,824

Other accrued expenses                                   44       203        43        10

Total accrued expenses                                8,182    11,601     5,913     8,900

Total current liabilities                            81,234   250,851    44,943   175,654

 

Non-current liabilities

Long-term debt obligations

Non-convertible long-term debt                       20,577    24,326    19,637    23,452

Bank loans                                            6,911    62,779

Borrowings from subsidiaries and parent company     184,210             184,210

Total non-current liabilities                       211,698    87,105   203,847    23,452

Total liabilities                                   292,932   337,956   248,790   199,106

 

Minority interest of off-group shareholders           2,946     5,119

 

Owners' equity

Share capital                                       377,217   377,217   377,217   377,217

Restricted reserves

Mandatory legal reserve                               1,416     1,416     1,416     1,416

Other reserves

Retained earnings                                   -94,016     5,200   -94,016     1,999

Profit/loss for the financial year/current period    15,117   -96,015    15,117   -96,015

Unrealized exchange differences                      -1,105      -954

Total owners' equity                                298,629   286,864   299,734   284,617

 

Total liabilities and owners' equity                594,507   629,939   548,524   483,723

 

 

Andrit Heidov

Information manager

Tel. +372 32 29 211