Atnaujinta: 2024.11.25 01:41 (GMT+2)
Tallinna Farmaatsiatehase AS FINANCIAL RESULTS 17.08.2005
RESULTS 6 MONTHS 2005
COMMENTS TO INCOME STATEMENT, 6M/2005.
The 06 months 2005 net sales of Tallinna Farmaatsiatehas amounted to 27,005 th.
EEK (1,726 th. EUR). Compared to the same period of previous year the sales were
decreased by 13,1177 th EEK (842 th. EUR) i.e. 32.8% (net turnover in 06 months
2004 40,122 th. EEK or 2.564 th.EUR). The operating income total decreased
(operating income in 2004 33.827 th. EEK (2.162 th.EUR) and in 2005 24,955 th.
EEK (1,595 th.EUR) by 8,872 th. EEK or 567 th EUR (26.2%).
Compared to the same period of previous year the total operating cost decreased
by 4,034 th. EEK (257 th EUR) i.e. 13.8% (total operating costs in 2004 29,221
th. EEK (1.867 th.EUR) and in 2005 25.187 th. EEK (1.610 th.EUR)), from which the
decrease of operating expenses (in 2004 4,842 th. EEK (309 th. EUR) and in 2005
2,117 th. EEK (135 th.EUR)) 2,725 th.EEK or 174 th EUR (56.2%).
Operating profit decreased in 06 months of 2005 compared (operating profit in
2004 4,606 th. EEK (295 th.EUR) and operating loss in 2005 233 th. EEK (15
th.EUR)) to the same period of 2004 by 4,839 th. EEK (309 th.EUR) , and net
profit decreased (net profit in 2004 4,560 th. EEK (292 th.EUR) and net loss in
2005 230 th. EEK (15 th.EUR)) by 4,790 th. EEK (307 th. EUR).
COMMENTS TO BALANCE SHEET
As of June 30. 2005 the Balance capacity was 55,764 th. EEK (3,564 th EUR).
Compared to the net balance, the biggest decrease was in inventories 3,064 th.
EEK (195 th. EUR) (65.8%) and receivables from parent company decrease with the
sum 1,666 th. EEK (106 th.EUR) (6.3%). Trading assets decreased totally by 1,859
th. EEK (119 th.EUR) (6.9%).
In the liabilities the short-term liabilities decreased 5,879 th. EEK (375
th.EUR) (58.1%). Compared to the net balance, the biggest decrease was in
liabilities - accounts payable 5,318 th. EEK (340 th.EUR) (72,7%). The owners'
equity decreased 230 th. EEK (15 th.EUR)) (0.4%) in the account of 06 months 2005
net loss.
BALANCE SHEET AS OF 30.06.2005 unaudited
in thousand EEK/EUR EEK EUR
31.12.2004 30.06.2005 31.12.2004 30.06.2005
A S S E T S
CURRENT ASSETS
Cash and bank accounts 308 404 19 26
Customer receivables
ACCOUNTS RECEIVABLE 16 38 1 2
Other receivables
RECEIVABLES FROM PARENT COMPANY 26,270 24,605 1,679 1,572
OTHER SHORT-TERM RECEIVABLES 480 166 30 10
Total 27,074 25,214 1,730 1,611
Inventories
RAW MATERIAL 2,321 1,419 148 90
WORK-IN-PROGRESS 108 0 7 0
FINISHED GOODS 2 224 170 142 10
PREPAYMENTS TO SUPPLIERS 0 0 0 0
Total 4,654 1,590 297 101
TOTAL CURRENT ASSETS 31,728 26,804 2,028 1,713
NON-CURRENT ASSETS
Long-term investments 105 0 7 0
Fixed assets
FIXED ASSETS IN NET BOOK VALUE 29,648 28,660 1,894 1,831
Total 29,648 28,660 1,894 1,831
Intangible assets 392 299 25 19
TOTAL NON-CURRENT ASSETS 30,146 28,959 1,927 1,850
TOTAL ASSETS 61,874 55,764 3,954 3,564
LIABILITIES AND SHAREHOLDERS' EQUITY
LIABILITIES
CURRENT LIABILITIES
CURRENT PORTION OF
LONG-TERM DEBT 0 0 0 0
SHORT-TERM BANK LOANS 767 393 49 25
CUSTOMER PREPAYMENTS 0 0 0 0
Total 767 393 49 25
Accounts payable 7,317 1,999 467 128
Taxes payable and accrued expenses 2,028 1,841 129 117
TOTAL CURRENT LIABILITIES 10,114 4,233 646 270
NON-CURRENT LIABILITIES
Long-term debt obligations
BANK LOANS 536 536 34 34
PAYABLES TO PARENT COMPANY 0 0 0 0
TOTAL NON-CURRENT LIABILITIES 536 536 34 34
TOTAL LIABILITIES 10,650 4,769 680 304
SHAREHOLDERS' EQUITY
SHARE CAPITAL 12,500 12,500 799 799
RESERVES 2,316 2,316 148 148
RETAINED EARNINGS
(ACCUMULATED DEFICIT) 36,407 36,407 2,326 2,326
PROFIT (LOSS) FOR FINANCIAL YEAR 0 -230 0 -15
SHAREHOLDERS' EQUITY TOTAL 51,223 51,935 3,274 3,259
LIABILITIES AND SHAREHOLDERS'
EQUITY 61,874 55,764 3,954 3,564
INCOME STATEMENT, 6 M/2005 unaudited
in thousand EEK/EUR EEK EUR
2004 2005 2004 2005
REVENUE
NET SALES 40,122 27,005 2,564 1,726
CHANGE IN WORK-IN-PROGRESS AND
FINISHED GOODS INVENTORIES -7,947 -2,162 -508 -138
OTHER OPERATING INCOME 1,652 111 106 7
TOTAL REVENUE 33,827 24,955 2,162 1,595
EXPENSES
MATERIALS, CONSUMABLES AND SUPPLIES -15,344 -15,020 -981 -960
OTHER OPERATING EXPENSES -4,842 -2,117 -309 -135
PERSONNEL EXPENSES -6,423 -6,364 -410 -407
DEPRECIATION -1,841 -1,539 -118 -98
OTHER EXPENSES -771 -147 -49 -10
TOTAL EXPENSES -29,221 -25,187 -1,867 -1,610
OPERATING PROFIT (-LOSS) 4,606 -233 295 -15
FINANCIAL INCOME/EXPENSES -46 3 -3 0
NET PROFIT (LOSS) 4,560 -230 292 -15
EARNINGS (LOSS) PER SHARE 3.65 -0.18 0.23 -0.01
Raivo Unt
financial director
+372 6120 201
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