HARJU ELEKTER

BALANCE SHEET

 

CONSOLIDATED BALANCE SHEET 31.12.1999

 

Assets                                                 Group                   Harju Elekter

Current assets                                     31.12.1999     31.12.1998     31.12.1999     31.12.1998

Cash and bank                                      17,532,156      6,076,533     17,066,136      5,867,060

Marketable securities                                 450,237        367,971        450,237        367,971

Due from customers

Accounts receivable                                11,596,828     12,607,282      9,381,684     11,453,858

Doubtful accounts                                    -528,601       -552,000       -487,110       -552,000

Total                                              11,068,227     12,055,282      8,894,574     10,901,858

Other receivables

Receivables from parent company/ subsidiary                 0              0      1,084,759        465,698

Receivables from affiliated companies               1,199,616      1,096,250      1,133,246      1,051,106

Other receivables                                     310,641        394,643        255,743        367,909

Total                                               1,510,257      1,490,893      2,473,748      1,884,713

Accrued income

Interest receivable                                    88,889         32,876         88,493         32,652

Prepaid expenses

Prepaid taxes                                       1,348,578        603,940      1,040,975        603,940

Other prepaid expenses                                448,644        201,587        434,059        121,058

Total                                               1,797,222        805,527      1,475,034        724,998

Inventories

Raw materials                                       8,036,648     11,583,150      6,899,486     10,802,822

Work-in-progress                                    3,090,520      3,649,104      3,090,520      3,649,104

Finished goods                                      2,359,938      3,304,608      1,032,100      2,630,617

Merchandise purchased for resale                    3,458,201      3,192,675      3,303,241      3,011,458

Prepayments to suppliers                               17,868          4,919         17,868          4,919

Total                                              16,963,175     21,734,456     14,343,215     20,098,920

Total current assets                               49,410,163     42,563,538     44,791,437     39,878,172

 

Non-current assets

Long-term financial assets

Stock and shares in subsidiaries                            0              0      4,845,132      3,369,406

Long-term receivables from subsidiaries                     0              0        255,535        434,260

Stock and shares in affiliated companies           17,422,165     16,350,996     17,422,165     16,350,996

Other shares                                        1,554,075      1,554,075      1,554,075      1,554,075

Other long-term receivables                           429,447        514,171        429,447        514,171

Total                                              19,405,687     18,419,242     24,506,354     22,222,908

Non-current tangible assets

Land and buildings                                 55,888,138     37,200,196     55,913,315     37,200,196

Plant and equipment                                27,168,285     26,862,638     21,213,557     21,517,382

Other equipment and fixtures                        2,504,506      1,984,385      2,191,101      1,740,267

Accumulated depreciation                          -18,676,981    -15,564,643    -17,215,476    -14,607,553

Construction in progress                               54,272        499,835         54,272        499,835

Uninstalled fixtures/equipment                              0          4,800              0          4,800

Prepayments for fixed assets                          904,928        564,244        757,560        564,244

Total                                              67,843,148     51,551,455     62,914,329     46,919,171

Intangible assets

Licences                                              533,188              0        533,188              0

Goodwill                                              304,478        400,629              0              0

Total                                                 837,666        400,629        533,188              0

Total non-current assets                           88,086,501     70,371,326     87,953,871     69,142,079

TOTAL ASSETS                                      137,496,664    112,934,864    132,745,308    109,020,251

 

 

Liabilities and owners’ equity                         Group                 Harju Elekter

Liabilities                                       31.12.1999     31.12.1998     31.12.1999     31.12.1998

                                                                                                 

Current liabilities

Debt obligations

Debentures                                            913,580        726,193              0              0

Current period long-term debt repayment

                                                    7,723,273      4,937,816      7,723,273      4,937,816

Short-term loans from credit institutions             323,349      2,010,747        323,349      2,010,747

Total                                               8,960,202      7,674,756      8,046,622      6,948,563

Customer prepayments                                   22,997        283,190         22,997        276,351

Accounts payable to suppliers                      11,366,349      7,429,629      9,450,851      6,904,113

Other payables

Payables to subsidiaries/ parent company                    0              0

Payables to affiliated companies                      565,091        785,781        565,091        785,781

Other liabilities                                     307,521              0        307,521              0

Total                                                 872,612        785,781        872,612        785,781

Tax liabilities                                     4,683,509      2,875,456      4,162,658      2,549,348

Accrued expenses

Salary-related accrued expenses                     4,414,046      4,336,526      3,764,992      3,927,849

Interest payable                                        3,212             42          2,588              0

Other accrued expenses                                  7,622         13,451          3,731         10,269

Total                                               4,424,880      4,350,019      3,771,311      3,938,118

Total current liabilities                          30,330,549     23,398,831     26,327,051     21,402,274

Long-term liabilities (nonconvertible debt)           747,858      1,361,439              0              0

Long-term bank loans                               18,544,291     15,744,174     18,544,291     15,744,174

Other provisions                                            0      3,051,408              0      2,494,791

Total non-current liabilities                      19,292,149     20,157,021     18,544,291     18,238,965

Total liabilities                                  49,622,698     43,555,852     44,871,342     39,641,239

 

Owners’ equity

Capital stock (par value)                          18,000,000     18,000,000     18,000,000     18,000,000

Statutory reserves                                  3,610,000      2,010,000      3,610,000      2,010,000

Retained earnings                                  44,169,012     33,223,010     44,169,012     33,223,010

Net profit (loss) for the financial year           22,094,954     16,146,002     22,094,954     16,146,002

Total owners’ equity                               87,873,966     69,379,012     87,873,966     69,379,012

TOTAL LIABILITIES AND OWNERS’ EQUITY              137,496,664    112,934,864    132,745,308    109,020,251

 

 

Karin Padjus				

Chief Accountant

+372 67 47 403

 

 

Lembit Libe

Chief Economist

+372 67 47 412