AS PENNU COMPUTER TECHNOLOGY

BALANCE SHEET

31.12.98

 

Financial year:  01.07-30.06

in thousand EEK                                          group        group       group

                                                      31.12.98     30.06.98    31.12.97

ASSETS

Cash and bank                                            1,838        1,625       1,504

Marketable securities                                                     0          735

Accounts receivable                                     11,316       13,694      23,126

  incl.customer receivables                             15,546       14,923      23,185

  Allowance for doubtful accounts (less)                -4,230       (1,230)        (59)

Other receivables                                       12,378       25,191      16,299

  Receivables from subsidiaries

  Receivables from affiliated companies

  Other current receivables                             12,378       25,191      16,299

Accrued income                                              70          411           4

  Intrests                                                              271           4

  Dividends                                                 70          140

Prepaid expenses                                         6,768        5,626       6,970

  Prepaid/refundable tax receivables                     5,230        5,330       6,778

  Other prepaid expenses                                 1,538          296         192

Inventories                                             13,171       23,680      19,616

  Raw materials                                              3            8

  Finished goods                                           473        1,905         546

  Merchandise purchased for resale                      11,876       20,655      19,065

  Prepayments to suppliers                                 819        1,113           5

Total current assets                                    45,542       70,227      68,254

                                                                          0

Financial assets		                        30,892       31,220      28,628

  Stock and shares in subsidiaries                                        0

  Stock and shares in affiliated companies                 395        1,764       1,554

  Non-current receivables from subsidiaries                               0

  Other non-current receivables                         30,497       29,456      27,073

Tangible assets                                          2,318       62,353      38,859

  Land and building                                                  59,531

  Plant and equipment                                    1,064        1,101      13,029

  Other equipment and fixtures                           2,511        3,593       3,169

  Accumulated depreciation                              -1,257       (1,872)     (2,154)

  Unfinished building                                                            24,815

  Prepayments for non-current assets

Intangible assets                                          117          165

  concessions, patents, licence, trade marks purchased     117          165

Total non-current assets                                33,326       93,738      67,487

Total assets                                            78,868      163,964     135,741

 

Liabilities and owners' equity 

Debt obligations                                                     56,812      27,641

  Debentures (except bank loans)                            97            0       1,000

  Current period long-term debt repayment                6,190       10,912

  Short-term loans from financial institutions          33,362       45,899      26,641

Customer prepayments                                       236          207       1,959

Accounts payable                                        11,144       13,088      21,995

  Supplier payables                                     11,144       13,088      21,995

Other payables

  Payables to subsidiaries

Tax liabilities                                            799          757       1,020

Accrued expenses                                           859        2,456       1,614

  Salary-related accrued expenses                          565          647         573

  Interests payable                                         40        1,688         626

  Other accrued expenses                                   254          121         415

Other prepaid revenues                                     910        1,256

Total current liabilities                               53,597       74,576      54,229

                                                                          0

Long-term debt obligations                                           42,088      35,318

  Non-convertible long-term debt                           152

  Long-term bank loans                                   3,566       42,088      35,318

Deferred income tax                                        231          241

Total non-current liabilities                            3,949       42,328      35,318

Total liabilities                                       57,546      116,904      89,547

 

Minority interest                                           50        6,466       4,007

 

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

Share capital                                           15,006       15,006      15,006

Mandatory reserve capital                                  767          555         553

Retained earnings                                        8,891        4,823       4,823

Profit/loss for the financial year                     -19,392        4,211       5,806

Total owners' equity                                    21,271       40,594      42,188

Total liabilities and owners' equity                    78,868      163,964     135,741