Andmed seisuga: 29.11.2024 18:28 (GMT+2)
Tallinna Farmaatsiatehas FINANCIAL RESULTS 11/29/2002
FINANCIAL RESULTS, 9M/2002
COMMENTS TO INCOME STATEMENT, 9M/2002
The 09 months 2002 net sales of Tallinna Farmaatsiatehas amounted to 68,873
th. EEK (4,401 th. EUR). Compared to the same period of previous year the
sales were increased by 12,052 th EEK (770 th. EUR) i.e. 21.2% (net turnover
in 09 months 2001 56,821 th. EEK or 3,632 th.EUR).
The operating income total increased by 8,763 th. EEK or 560 th EUR (13.1%).
Operating income in 2001 67,031 th. EEK (4,284 th.EUR) and in 2002 75,794
th. EEK (4,844 th.EUR).
Compared to the same period of previous year the total operating cost
increased by 9,558 th. EEK (611 th EUR) i.e. 16,5% (total operating costs in
2001 57,986 th. EEK (3,706 th.EUR) and in 2002 67,545 th. EEK (4,317
th.EUR)), from which the increase of expenses for materials (expenses for
materials in 2001 29,999 th. EEK (1,917 th. EUR) and in 2002 35,569 th. EEK
(2,273 th.EUR)) 5,570 th.EEK or 356 th EUR (18.6%). Others operating expenses
increased by 1,583 th. EEK (101 th.EUR) (others operating expenses in 2001
5,441 th. EEK (348 th. EUR) and in 2002 7,024 th. EEK (449 th. EUR)) 29.1%.
Others expenses increased by 1,528 th. EEK (98 th.EUR) (others expenses in
2001 5,456 th. EEK (349 th. EUR) and in 2002 6,985 th. EEK (446 th. EUR))
28.0%.
Operating profit decreased in 09 months of 2002 compared (operating profit in
2001 9,044 th. EEK (578 th.EUR) and operating profit in 2002 8,249 th. EEK
(527 th.EUR)) to the same period of 2001 by 795 th. EEK (51 th.EUR) (8.8 %) ,
and net profit increased (net profit in 2001 4,463 th. EEK (285 th.EUR) and
net profit in 2002 4,472 th. EEK (286 th.EUR)) by 9 th. EEK (0,6 th.EUR)
(0.2%).
COMMENTS TO BALANCE SHEET
As of September 30. 2002 the Balance capacity was 94,001 th. EEK (6,008 th
EUR). Compared to the net balance, the biggest decrease was in assets -
receivables from parent company 7,087 th. EEK (452 th. EUR) (24.2%) and the
biggest increase was finished goods stock with the sum 2,586 th. EEK (165
th.EUR) (19.4%). Raw materials increased 1,732 th.EEK (110 th.EUR) (25.7%).
Trading assets decreased totally by 2,156 th. EEK (138 th.EUR) (4.0%).
In the liabilities the short-term liabilities decreased 8,778 th. EEK (561
th.EUR) (37.5%). Compared to the net balance, the biggest increase was in
liabilities - accounts payable 1,834 th. EEK (117 th.EUR) (29,6%). The owners
equity increased 4,472 th. EEK (286 th.EUR)) (13.6%) in the account of 09
months 2002 net profit.
2001 2002
Gross profit margin 15.9 12.0
Net profit margin 7.9 6.5
Return on equity (ROE) 16.5 12.0
Return on total assets (ROA) 4.8 4.8
Proportion of capital and reserves and all assets 29.0% 39.8%
Income of accounts receivable (by days) 142,8 114,5
Net profit per share (EEK) 3.57 3.58
Net profit per share (EUR) 0.23 0.23
BALANCE SHEET AS OF 30.09.2002
in thousand EEK/EUR EEK EUR
30.09.2002 31.12.2001 30.09.2002 31.12.2001
A S S E T S
CURRENT ASSETS
Cash and bank accounts 162 390 10 25
Customer receivables
ACCOUNTS RECEIVABLE 3,694 3,331 236 213
Other receivables
RECEIVABLES FROM PARENT COMPANY 22,144 29,232 1,415 1,868
OTHER SHORT-TERM RECEIVABLES 173 97 11 6
Total 22,317 29,329 1,426 1,874
Accrued income 4 0 0 0
Prepaid expenses 823 686 52 44
Inventories
RAW MATERIAL 7,621 6,415 487 410
WORK-IN-PROGRESS 658 403 42 26
FINISHED GOODS 15,889 13,303 1,015 850
PREPAYMENTS TO SUPPLIERS 842 316 54 20
Total 25,011 20,436 1,598 1,306
TOTAL CURRENT ASSETS 52,014 54,174 3,324 3,462
NON-CURRENT ASSETS
Long-term investments 424 424 27 27
Fixed assets
FIXED ASSETS IN NET BOOK VALUE 39,361 37,263 2,516 2,381
CONSTRUCTION IN PROGRESS 0 3,821 0 244
Total 39,361 41,084 2,516 2,625
Intangible assets 2,202 2,625 141 167
TOTAL NON-CURRENT ASSETS 41,987 44,133 2,684 2,820
TOTAL ASSETS 94,002 98,307 6,008 6,283
LIABILITIES AND SHAREHOLDERS’ EQUITY
LIABILITIES
CURRENT LIABILITIES
CURRENT PORTION OF
LONG-TERM DEBT 2,354 9,415 150 602
SHORT-TERM BANK LOANS 307 1,184 20 75
Total 2,661 10,599 170 677
Accounts payable 8,032 6,198 513 396
Other payables 2,144 4,204 137 269
Taxes payable 51 39 3 2
Accrued expenses 1,761 2,386 113 152
TOTAL CURRENT LIABILITIES 14,649 23,426 936 1,497
NON-CURRENT LIABILITIES
Long-term debt obligations
BANK LOANS 21,840 21,840 1,396 1,396
PAYABLES TO PARENT COMPANY 20,147 20,147 1,287 1,287
TOTAL NON-CURRENT LIABILITIES 41,987 41,987 2,683 2,683
TOTAL LIABILITIES 56,636 65,414 3,619 4,180
SHAREHOLDERS’ EQUITY
SHARE CAPITAL 12,500 12,500 799 799
RESERVES 2,316 2,316 148 148
RETAINED EARNINGS
(ACCUMULATED DEFICIT) 18,077 7,808 1,155 499
PROFIT (LOSS) FOR FINANCIAL YEAR 4,472 10,269 286 656
SHAREHOLDERS’ EQUITY TOTAL 37,366 32,894 2,388 2,102
LIABILITIES AND SHAREHOLDERS’
EQUITY 94,002 98,307 6,008 6,283
INCOME STATEMENT, 9M/2002
in thousand EEK/EUR EEK EUR
2002 2001 2002 2001
REVENUE
NET SALES 68,874 56,821 4,401 3,632
CHANGE IN WORK-IN-PROGRESS AND
FINISHED GOODS INVENTORIES 2,841 4,471 187 286
OTHER OPERATING INCOME 4,079 5,739 261 367
TOTAL REVENUE 75,794 67,031 4,844 4,284
EXPENSES
MATERIALS, CONSUMABLES AND SUPPLIES -35,569 -29,999 -2,273 -1,917
OTHER OPERATING EXPENSES -7,024 -5,441 -449 -348
PERSONNEL EXPENSES
WAGES & SALARIES -10,119 -9,754 -647 -623
SOCIAL TAXES -3,508 -3,340 -224 -213
DEPRECIATION -4,340 -3,996 -277 -255
OTHER EXPENSES -6,984 -5,456 -446 -348
TOTAL EXPENSES -67,545 -57,986 -4,317 -3,706
OPERATING PROFIT (-LOSS) 8,249 9,044 527 578
FINANCIAL INCOME 34 35 2 2
FINANCIAL EXPENSES -3,811 -4,616 -244 -295
NET PROFIT (LOSS) 4,472 4,463 286 285
EARNINGS (LOSS) PER SHARE 3.58 3.57 0.23 0.23
Raivo Unt
CFO
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