REVAL HOTELLIGRUPP

BALANCE SHEET



CONSOLIDATED BALANCE SHEET 31.12.99



Consolidated, unaudited, 

in thousand EEK



                                                31.12.99 31.12.98

ASSETS

Current assets

Cash and cash equivalents                         28 727   21 474

Customer receivables                               9 465    6 525

Other receivables                                  1 082    2 568

Accrued income                                       160    1 634

Prepaid revenue                                    9 009    1 355

Inventories                                        3 711    3 891

Total current assets                              52 155   37 448

Non-current assets

Long-term financial assets                        17 082   21 967

Tangible assets                                  270 018  276 183

Intangible assets                                 15 620    7 111

Prepayments for fixed assets                         865        0

Total non-current assets                         303 585  305 261

Deferred income tax asset                              0      482

TOTAL ASSETS                                     355 740  343 191





LIABILITIES AND OWNERS EQUITY

Current liabilities

Current period share of non-current liabilities   20 000   45 897

Customer prepayments                                 402      531

Supplier payables                                  8 777    6 179

Other payables                                         7      577

Tax liabilities                                   11 069   13 184

Accrued expenses                                   9 426    7 030

Total current liabilities                         49 681   73 398

Non-current liabilities

Long-term debt obligations                       135 860  148 602

Deferred income tax liability                          0    5 840

Total non-current liabilities                    135 860  154 442

OWNERS EQUITY

Share capital                                     48 143   40 884

Capital surplus                                   28 907   12 032

Mandatory legal reserve                            2 552    1 363

Retained earnings                                 59 883   37 298

Net profit for the year                           30 713   23 775

TOTAL OWNERS EQUITY                              170 198  115 351

TOTAL LIABILITIES AND OWNERS EQUITY              355 740  343 191





Katrin Rasmann

Financial Director

+372 62 74 444