RAKVERE LIHAKOMBINAAT

CASH FLOW STATEMENT



CONSOLIDATED CASH FLOW STATEMENT 1999



Thousand Estonian kroons                          1999          1998



Operating cashflow

Operating profit                                28 756       -22 993

Depreciation                                    57 636        71 963

Profit (loss) from sales of fixed assets        -1 811           233

Exchange rate differences                        5 305         2 396

Change in short-term receivables                -2 794           172

Change in inventories                              468        10 400

Change in liabilities                           -5 774       -12 087

Interests paid                                 -21 710       -29 436

Extraordinary loss                                               -64

Total operating cash flow                       60 076        20 584



Cash flow from investments

Purchases of fixed assets                      -43 619       -55 321

    incl. capital lease                            601        23 974

Purchase of intangible assets                   -2 874        -1 710

Proceeds from sales of fixed assets             12 770        11 152

Loan received                                    1 800        37 392

Interests received                               1 687         5 933

Loans given                                     -2 592       -38 750

Sale of subsidiary                                 117

Purchased shares of subsidiary                     -50

Total cash flow from investing activities      -32 160       -17 330



Cash flow from financing

Paid lease principals                          -13 778       -14 638

Loans received                                 188 158        41 104

Issued securities                                               -478

Paid loans                                    -200 924       -24 665

Purchase of convertible bonds                   -1 405            -5

Total cash flow from financing                 -27 949         1 318





Change in cash and cash equivalents                -33         4 572



Cash at the beginning of the year               10 185         5 613

Cash at the end of the year                     10 152        10 185





Andrit Heidov

Communication manager

232 29 211