MERKO EHITUS

BALANCE SHEET

 

Consolidated balance sheet, 30.06.1999

unaudited, in thousand EEK

 

                                                        30.09.1999     31.12.1998     30.09.1998

 

Cash and bank                                               20 387         14 199          8 665

 

Marketable securities                                       48 227         14 945          3 786

 

Accounts receivable                                         55 705        139 143        106 671

Allowance for doubtful accounts                                -30            -30

Total accounts receivable                                   55 675        139 113        106 671

Receivables from parent                                      1 736

Receivables from affiliated enterprises                      3 232          1 238          3 359

Other current receivables                                   32 267         34 164         29 324

Total other receivables                                     37 235         35 402         32 683

 

Interests                                                      441            350          1 080

Other accrued income                                           943          1 778             19

Total accrued income                                         1 384          2 128          1 099

 

Prepaid/refundable tax receivables                           2 958          5 488          1 575

Other prepaid expenses                                       5 751         11 158          1 408

Total prepaid expenses                                       8 709         16 646          2 983

 

Raw materials                                                2 505          2 078          2 865

Work-in-progress                                                39         14 186          2 833

Finished goods                                                 683            100            331

Merchandise purchased for resale                             3 281          8 229          6 732

Customer prepayments                                         1 961            370         28 315

Total inventories                                            8 469         24 963         41 076

TOTAL CURRENT ASSETS                                       180 086        247 396        196 963

 

Shares in affiliated enterprises                            12 490         10 962          8 858

Other shares, units and bonds                                  115          1 565          1 565

Other non-current receivables                                4 348         13 754          9 755

Total financial assets                                      16 953         26 281         20 178

 

Land and buildings                                          22 902         87 799         80 658

Building rights                                              1 603          7 762          8 526

Plant and equipment                                         11 684         14 098         13 987

Other equipment and fixtures                                 8 902          6 437          6 465

Accumulated depreciation                                   -15 597        -13 121        -11 596

Fixed assets under construction                                               809          7 438

Prepayments for fixed assets                                                   39            120

Total tangible assets                                       29 494        103 823        105 598

 

Development costs                                                               8             10

Goodwill                                                     1 321          1 665          1 780

Total intangible assets                                      1 321          1 673          1 790

 

TOTAL NON-CURRENT ASSETS                                    47 768        131 777        127 566

 

TOTAL ASSETS                                               227 854        379 173        324 529

 

 

Debentures (except bank loans)                               4 809            191            315

Current period repayments of long-term bank loans               38          3 456

Short-term loans from financial institutions                 2 000         30 707          2 784

Total borrowings                                             6 847         34 354          3 099

 

Customer prepayments                                        17 576         29 961         37 671

Supplier payables                                           46 603         59 786         57 010

 

Payables to subsidiaries and parent                             42          1 518            464

Payables to affiliated enterprises                             516          4 671

Total other payables                                           558          6 189            464

 

Tax liabilities                                             11 398          3 238         12 074

 

Salary-related expenses                                      4 504          7 337          6 675

Interest payable                                               144            302              6

Other accrued expenses                                       4 049          1 294            178

Total accrued expenses                                       8 697          8 933          6 859

 

Short-term provisions                                        2 021          2 585          2 000

Other prepaid revenues                                      14 359         41 562         28 704

TOTAL CURRENT LIABILITIES                                  108 059        186 608        147 881

 

Non-convertible debt                                         6 903          8 125             85

Bank loans                                                                 26 544         30 000

Total long-term borrowings                                   6 903         34 669         30 085

 

Due to subsidiaries and parent                                  42             42

Other long-term provisions                                   1 119          2 315          1 160

TOTAL NON-CURRENT LIABILITIES                                8 064         37 026         31 245

 

Share capital                                               88 500         88 500         88 500

Capital surplus                                              2 950          2 950          2 950

Mandatory reserve capital                                    4 875          2 950          2 950

Retained earnings                                           49 305         20 270         20 270

Net profit for the year                                    -37 515         38 483         28 668

Exchange differences                                           952              4

TOTAL OWNERS' EQUITY                                       109 067        153 157        143 338

 

MINORITY INTEREST                                            2 664          2 382          2 065

 

TOTAL LIABILITIES AND OWNERS' EQUITY                       227 854        379 173        324 529