AS PENNU COMPUTER TECHNOLOGY GROUP

BALANCE SHEET

31.03.99

 

Financial year:  01.07-30.06

unconsolidated, unaudited

in thousand EEK

 

 

                                  			  parent          parent          parent

                                                        31.03.99        30.06.98        31.03.98

  ASSETS

  Cash and bank                                              486           1,024           3,956

  Marketable securities                                                                      735

  Accounts receivable                                      6,484          13,169          18,979

    incl.customer receivables                              9,770          13,292          19,040

    Allowance for doubtful accounts (less)                -3,287            -124         -61,784

  Other receivables                                        2,304           1,408           1,930

    Receivables from subsidiaries                                            118             176

    Receivables from affiliated companies

    Other current receivables                              2,304           1,290           1,753

  Accrued income                                             842             745           1,584

    incl.interests                                           772             605           1,444

    dividends                                                 70             140             140

  Prepaid expenses 	                                   2,951           4,126           4,223

    Prepaid/refundable tax receivables                     2,665           4,038           3,925

    Other prepaid expenses                                   287              88             298

  Inventories                                             12,113          21,505          20,497

    incl. raw materials

    finished goods                                           382           1,905             570

    merchandise purchased for resale                      10,193          18,488          19,637

    prepayments to suppliers                               1,539           1,113             290

Total current assets                                      25,181          41,976          51,904

 

  Long-term financial investments                         11,375          39,614          41,640

    Stock and shares in subsidiaries                       1,900          15,740          17,206

    Stock and shares in affiliated companies                               1,714           1,524

    Non-current receivables from subsidiaries              7,014          22,000          22,910

    Other non-current receivables                          2,460             160

  Tangible assets                                          1,426           1,811           1,720

    Land and building 

    Plant and equipment                                      983             754             754

    Other equipment and fixtures                           1,563           2,389           2,224

    Accumulated depreciation                              -1,120          -1,332          -1,259

    Prepayments for non-current assets

  Intangible assets                                           58             115

    concessions, patents, licence, trade marks purchased      58             115

  Total non-current assets                                12,859          41,541          43,360

  Total assets                                            38,039          83,517          95,264

 

  Liabilities and owners' equity

  Debt obligations                                        18,883          18,192          11,535

    Debentures (except bank loans)                         5,035              76              17

    Current period long-term debt repayment                1,097           6,357

    Short-term loans from financial institutions          12,751          11,759          11,518

  Customer prepayments                                        22              17              14

  Accounts payable                                         7,399          10,758           8,772

    Supplier payables                                      7,399          10,758           8,772

  Other payables                                                           6,342          15,552

    Payables to subsidiaries                                               6,342          15,552

  Tax liabilities                                            199             122           2,143

  Accrued expenses                                           816           1,464           1,485

    Salary-related accrued expenses                          393             311             613

    Interests payable                                         49           1,114             865

    Other accrued expenses                                   374              40               7

  Other prepaid revenue 

  Total current liabilities                               27,318          36,895          39,501

 

  Long-term debt obligations                               3,791           5,716             148

    Non-convertible long-term debt                           224              72             148

    Long-term bank loans                                   3,566           5,643          12,000

  Deferred income tax                                        231             231

  Total non-current liabilities                            4,021           5,946          12,148

  Total liabilities                                       31,340          42,841          51,649

 

  Minority interest  

 

  Share capital in nominal value                          16,000          16,000          16,000

  Capital surplus                                         15,006          15,006          15,006

  Mandatory reserve capital                                  767             553             553

  Retained earnings                                        8,891           4,823           4,823

  Profit/loss for the financial year                     -33,964           4,294           7,234

  Total owners' equity                                     6,700          40,676          43,616

  Total liabilities and owners' equity                    38,039          83,517          95,264