XXL.EE

COMMENTARY TO FINANCIAL RESULTS

 

COMMENTARY TO UNCONSOLIDATED RESULTS OF 1998-99 FINANCIAL YEAR 

 

The unconsolidated net sales of AS XXL.EE in 1998/99 financial year 

(18 months) amounted to EEK 110.2 million, and unconsolidated net 

loss was EEK 49.1 million (in 1997/98 financial year EEK 4.3 

million net profit), including EEK 5.4 million loss from 

revaluation of assets, EEK 26.9 million from financial transactions 

and provisions on accounts receivable.

As of 31.12.99 AS XXL.EE unconsolidated total assets were EEK 24.1 

million, providing EEK 59.4 million decrease from 30.06.98. 

Accounts receivable dropped by EEK 9.0 million down to EEK 4.1 

million. Volume of inventories was reduced by EEK 20.5 million to 

EEK 1.0 million. Due to sale and revaluation of subsidiaries and 

associated companies the volume of financial assets account dropped 

from EEK 39.6 million to EEK 8.8 million (AS XXL.EE sold its 

associated companies ID Süsteemide AS, Kernel and Infotek (two 

latter ones sold to subsidiary AS PCT Arvutid), and subsidiary 

Järve Kinnisvarahoolduse AS). 

The company's total current liabilities decreased by EEK 12.1 

million, incl. supplier payables by EEK 5.2 million, and payables 

to subsidiaries by EEK 6.3 million.

As of 31.12.99 the company's unconsolidated current assets totaled 

EEK 12.4 million, accounting for 51% of total assets. 

As of 31.12.99 the company's owners' equity stood at EEK -0.5 

million.

 

 

Arho Anttila arho@xxl.ee

Chief Executive

+372 62 83 601