BALTIKA

CASH FLOW STATEMENT

 

CONSOLIDATED, AUDITED CASH FLOW STATEMENT 1999

 

Consolidated, audited

in thousand EEK

                                                         1999        1998

Operating activities

Operating profit                                        7,460       9,194

Accumulated depreciation                               10,682       8,765

Profit from sale of fixed assets                       -3,256           0

Exchange differences                                     -661           0

Other financial expenses                                  -18           0

Change in receivables                                  12,701       6,073

Change in inventories                                  17,309     -16,324

Change in supplier payables                             3,882      -5,393

Net cash flow from operating activities                48,099       2,315

Interest paid                                          -6,070      -5,591

Income tax paid                                          -380           0

Net cash from operating activities                     41,649      -3,276

 

Investing activities

Purchase of fixed assets                              -13,530     -14,070

incl. installment payments                              3,058           0

Disposal of fixed assets                                4,348         329

Finance lease payments                                   -946           0

Proceeds from sale of investments                           0       1,467

Acquisition of non-current investments                     -7      -5,778

Interest received                                         280         487

Dividends received                                        106          32

Securities purchased                                   -9,032           0

Sale of securities                                      3,751           0

Net cash used in investing activities                 -11,972     -17,533

 

Financing activities

Repayment of borrowings                               -30,065     -30,498

Proceeds from borrowings                               10,605      49,320

Pawn to loan agreement paid                                 0        -498

Dividends paid                                             -4      -2,619

Bond principal payments                                     0          -1

Net cash from transactions with treasury shares           279      -1,083

Proceds from exercising of option                           0       3,145

Proceeds from payments to share capital                   400           0

Net cash used in financing activities                 -18,785      17,766

Effects of exchange differences                            -1         -18

Net change in cash                                     10,891      -3,061

 

Cash and cash equivalents at beginning of period        5,697       8,758

Cash and cash equivalents at end of period             16,588       5,697

 

 

Ülle Järv

Member of Management Board

372 63 02 741