Andmed seisuga: 26.11.2024 16:21 (GMT+2)
Tallinna Farmaatsiatehase AS 28.04.2005
Financial results for first quarter of 2005
COMMENTS TO INCOME STATEMENT, 3M/2005.
The 03 months 2005 net sales of Tallinna Farmaatsiatehas amounted to 14,165 th.
EEK (905 th. EUR). Compared to the same period of previous year the sales were
decreased by 11.387 th EEK (728 th. EUR) i.e. 44.6% (net turnover in 03 months
2004 25,553 th. EEK or 1.633 th.EUR). The operating income total decreased
(operating income in 2004 19.623 th. EEK (1.254 th.EUR) and in 2005 14,196 th.
EEK (907 th.EUR) by 5.427 th. EEK or 346 th EUR (27.7%)
Compared to the same period of previous year the total operating cost decreased
by 1.138 th. EEK (73 th EUR) i.e. 7.8% (total operating costs in 2004 14,596 th.
EEK (933 th.EUR) and in 2005 13.458 th. EEK (860 th.EUR)), from which the
increase of expenses for materials (expenses for materials in 2004 8,419 th. EEK
(538 th. EUR) and in 2005 8,961 th. EEK (572 th.EUR)) 542 th.EEK or 34 th EUR
(6.4%).
Operating profit decreased in 03 months of 2005 compared (operating profit in
2004 5,027 th. EEK (321 th.EUR) and operating profit in 2005 737 th. EEK (47
th.EUR)) to the same period of 2004 by 4,289 th. EEK (274 th.EUR) , and net
profit decreased (net profit in 2004 4,993 th. EEK (319 th.EUR) and net profit in
2005 711 th. EEK (45 th.EUR)) by 4,281 th. EEK (274 th. EUR) (85.8%).
COMMENTS TO BALANCE SHEET
As of March 31. 2005 the Balance capacity was 62,047 th. EEK (3,965 th EUR).
Compared to the net balance, the biggest increase was in raw - materials stock
1,083 th. EEK (69 th. EUR) (46.7%) and biggest decrease in finished goods stock
with the sum 411 th. EEK (26 th.EUR) (18.5%). Trading assets increased totally by
863 th. EEK ( 55 th.EUR) (2.7%).
In the liabilities the short-term liabilities decreased 537 th. EEK (34 th.EUR)
(5.3%). Compared to the net balance, the biggest decrease was in liabilities -
others payables 322 th. EEK (20 th.EUR) (15,9%). The owners' equity increased 711
th. EEK (45 th.EUR)) (1.4%) in the account of 03 months 2005 net profit.
BALANCE SHEET AS OF 31.03.2005 unaudited
in thousand EEK/EUR EEK EUR
31.12.2004 31.03.2005 31.12.2004 31.03.2005
A S S E T S
CURRENT ASSETS
Cash and bank accounts 308 463 19 29
Customer receivables
ACCOUNTS RECEIVABLE 16 2 1 0
Other receivables
RECEIVABLES FROM PARENT COMPANY 26,270 26,288 1,679 1,680
OTHER SHORT-TERM RECEIVABLES 480 452 30 29
Total 27,074 27,207 1,730 1,738
Inventories
RAW MATERIAL 2,321 3,355 148 214
WORK-IN-PROGRESS 108 166 7 10
FINISHED GOODS 2 224 1,812 142 115
PREPAYMENTS TO SUPPLIERS 0 50 0 3
Total 4,654 5,384 297 344
TOTAL CURRENT ASSETS 31,728 32,591 2,028 2,083
NON-CURRENT ASSETS
Long-term investments 105 105 7 7
Fixed assets
FIXED ASSETS IN NET BOOK VALUE 29,648 29,008 1,894 1,853
Total 29,648 29,008 1,894 1,853
Intangible assets 392 342 25 21
TOTAL NON-CURRENT ASSETS 30,146 29,455 1,927 1,881
TOTAL ASSETS 61,874 62,047 3,954 3,965
LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
CURRENT LIABILITIES
CURRENT PORTION OF
LONG-TERM DEBT 0 0 0 0
SHORT-TERM BANK LOANS 767 582 49 37
CUSTOMER PREPAYMENTS 0 0 0 0
Total 767 582 49 37
Accounts payable 7,317 7,287 467 465
Taxes payable 418 382 26 24
Accrued expenses 1,611 1,325 102 84
TOTAL CURRENT LIABILITIES 10,114 9,576 646 612
NON-CURRENT LIABILITIES
Long-term debt obligations
BANK LOANS 536 536 34 34
PAYABLES TO PARENT COMPANY 0 0 0 0
TOTAL NON-CURRENT LIABILITIES 536 536 34 34
TOTAL LIABILITIES 10,650 10,112 680 646
SHAREHOLDERS' EQUITY
SHARE CAPITAL 12,500 12,500 799 799
RESERVES 2,316 2,316 148 148
RETAINED EARNINGS
(ACCUMULATED DEFICIT) 36,407 36,407 2,326 2,326
PROFIT (LOSS) FOR FINANCIAL YEAR 0 711 0 45
SHAREHOLDERS' EQUITY TOTAL 51,223 51,935 3,274 3,319
LIABILITIES AND SHAREHOLDERS'
EQUITY 61,874 62,047 3,954 3,965
INCOME STATEMENT, 3 M/2005 unaudited
in thousand EEK/EUR EEK EUR
2004 2005 2004 2005
REVENUE
NET SALES 25,553 14,165 1,633 905
CHANGE IN WORK-IN-PROGRESS AND
FINISHED GOODS INVENTORIES -8,834 -353 -436 -22
OTHER OPERATING INCOME 905 384 57 24
TOTAL REVENUE 19,623 14,196 1,254 907
EXPENSES
MATERIALS, CONSUMABLES AND SUPPLIES -8,419 -8,961 -538 -572
OTHER OPERATING EXPENSES -2,321 -1,268 -148 -81
PERSONNEL EXPENSES -2,769 -2,359 -177 -151
DEPRECIATION -921 -772 -58 -49
OTHER EXPENSES -163 -96 -10 -6
TOTAL EXPENSES -14,596 -13,458 -933 -860
OPERATING PROFIT (-LOSS) 5,027 738 321 47
FINANCIAL INCOME/EXPENSES -34 -26 -2 -2
NET PROFIT (LOSS) 4,992 711 319 45
EARNINGS (LOSS) PER SHARE 3.99 0.57 0.25 0.036
Raivo Unt
Director of Finance
+3726120201
Sisukaart