AS MERKO EHITUS

BALANCE SHEET

31.12.98

 

Consolidated, audited

in thousand EEK

 

                                                      	      GROUP                 AS MERKO EHITUS

                                                     31.12.98     31.12.97     31.12.98     31.12.97

 

Cash and bank                                          14 199       28 389          764       26 824

Marketable securities                                  14 945       42 377       14 812       35 077

Accounts receivable                                   139 143       43 164      126 353       40 597

Allowance for doubtful accounts                           -30            0          -30            0

                      Total customer receivables      139 113       43 164      126 323       40 597

 

Receivables from subsidiaries                               0            0        5 849          628

Receivables from affiliated enterprises                 1 238        7 322        1 238        7 322

Other current receivables                              34 164        9 535       28 498        9 473

                      Total other receivables          35 402       16 857       35 585       17 423

 

Interests                                                 350        1 966          296        1 965

Dividends                                                   0            0        3 000          200

Other accrued income                                    1 778            0        1 778            0

                      Total accrued income              2 128        1 966        5 074        2 165

 

Prepaid/refundable tax receivables                      5 488          351        4 286            0

Other prepaid expenses                                 11 158        1 069       10 383          601

                      Total prepaid expenses           16 646        1 420       14 669          601

 

Raw materials                                           2 078          106            0            0

Work-in-progress                                       14 186       13 002            0       11 398

Finished goods                                            100            0            0            0

Merchandise purchased for resale                        8 229            0        3 275            0

Customer prepayments                                      370       13 062            0       12 975

                      Total inventories                24 963       26 170        3 275       24 373

TOTAL CURRENT ASSETS                                  247 396      160 343      200 502      147 060

 

Shares in subsidiaries                                      0            0      111 192       16 937

Shares in affiliated enterprises                       10 962        1 335       10 934        1 335

Other shares, units and bonds                           1 565        3 410          115        2 450

Other non-current receivables                          13 754        1 936        4 145        1 936

                      Total financial assets           26 281        6 681      126 386       22 658

 

Land and buildings                                     87 799       17 487       26 292       13 986

Building rights                                         7 762        9 581        1 603        9 581

Plant and equipment                                    14 098        9 007        6 716        5 352

Other equipment and fixtures                            6 437        3 381        4 598        3 310

Accumulated depreciation                              -13 121       -8 302       -9 668       -6 929

Unfinished building                                       809

Prepayments for non-current assets                         39           79            0           79

                      Total tangible assets           103 823       31 233       29 541       25 379

 

Development costs                                           8            0            0            0

Goodwill                                                1 665        1 422            0            0

                      Total intangible assets           1 673        1 422            0            0

 

TOTAL NON-CURRENT ASSETS                              131 777       39 336      155 927       48 037

 

TOTAL ASSETS                                          379 173      199 679      356 429      195 097

 

 

Debentures (except bank loans)                            191          290            0            0

Current period repayments of long-term bank loans       3 456            0            0            0

Short-term loans from financial institutions           30 707            0       23 626            0

                      Total debt obligations           34 354          290       23 626            0

 

Customer prepayments                                   29 961       31 427       26 784       31 427

Supplier payables                                      59 786       29 209       45 225       26 576

Payables to subsidiaries and parent                     1 518            0       49 378        1 987

Payables to affiliated enterprises                      4 671            0        4 671            0

                      Total other payables              6 189            0       54 049        1 987

 

Tax liabilities                                         3 238        9 886          800        8 141

Salary-related expenses                                 7 337        5 046        4 958        4 374

Interests payable                                         302            0          186            0

Other accrued expenses                                  1 294          237           65          237

                      Total accrued expenses            8 933        5 283        5 209        4 611

 

Current provisions                                      2 585        2 565        1 806        2 523

Other prepaid revenues                                 41 562            0       36 519            0

TOTAL CURRENT LIABILITIES                             186 608       78 660      194 018       75 265

 

Non-convertible debt                                    8 125          159        8 000            0

Bank loans                                             26 544            0            0            0

                   Total long-term debt obligations    34 669          159        8 000            0

 

Due to subsidiaries and parent                             42            0            0            0

Other non-current provisions                            2 315          225        1 254            0

TOTAL NON-CURRENT LIABILITIES                          37 026          384        9 254            0

 

Share capital                                          88 500       29 500       88 500       29 500

Capital surplus                                         2 950       61 950        2 950       61 950

Mandatory reserve capital                               2 950        2 212        2 950        2 212

Retained earnings                                      20 270          195       20 270          195

Net profit for the year                                38 483       25 975       38 483       25 975

Exchange differences                                        4            0            4            0

TOTAL OWNERS' EQUITY                                  153 157      119 832      153 157      119 832

 

MINORITY INTEREST                                       2 382          803            0            0

 

TOTAL LIABILITIES AND OWNERS' EQUITY                  379 173      199 679      356 429      195 097