AS RAKVERE LIHAKOMBINAAT

BALANCE SHEET

30.06.1999

 

Consolidated, unaudited

in thousand EEK                                              Group       Group      Parent      Parent

                                                           6/30/99    12/31/98     6/30/99    12/31/98

 

ASSETS

 

Current assets

Cash and bank                                               25,666      10,185      15,110       1,670

Accounts receivable

Customer receivables                                        68,241      70,548      50,227      51,241

Allowance for doubtful accounts                            -11,766     -11,749     -11,463     -11,749

Total accounts receivable                                   56,475      58,799      38,764      39,492

Other receivables

Receivables from subsidiaries and parent company                             4      56,388      68,800

Other current receivables                                      890         183         783         133

Total other receivables                                        890         187      57,171      68,933

Accrued income

Interests                                                                            1,915         388

Other accrued income                                                       612

Total accrued income                                             0         612       1,915         388

Prepaid expenses

Prepaid/refundable tax receivables                          11,808       7,625         729          48

Other prepaid expenses                                       2,235       2,838       1,221       1,692

Total prepaid expenses                                      14,043      10,463       1,950       1,740

Inventories

Raw materials                                               56,064      62,689      37,431      44,769

Work-in-process                                             34,685      35,817         429         314

Finished goods                                              17,075      18,928      11,270      14,544

Merchandise purchased for resale                             4,387       4,577         385         746

Prepayments to suppliers                                       469         769         239         468

Total inventories                                          112,680     122,780      49,754      60,841

Total current assets                                       209,754     203,026     164,664     173,064

 

Non-current assets

Long-term finanacial investments

Stock and shares in subsidiaries                                                    30,113      27,933

Non-current receivables from subsidiaries                                          116,211       1,253

arnd parent company

Other shares, units and bonds                                1,515       1,475       1,470       1,470

Other non-current receivables                                2,121       1,335       2,121       1,288

Total long-term finanacial investments                       3,636       2,810     149,915      31,944

Tangible assets

Land and building (acquisition cost)                       308,638     308,358     219,395     219,555

Plant and equipment (acquisition cost)                     476,393     472,735     391,700     394,764

Other equipment and fixtures                                58,964      56,328      28,400      27,543

Accumulated depreciation (less)                           -481,264    -446,178    -389,481    -368,044

Unfinished building                                         29,180      27,926       1,000       2,213

Prepayments for tangible assets                              3,911       3,077         889       1,188

Total tangible assets                                      395,822     422,246     251,903     277,219

Intangible assets

Development costs                                            2,303       1,857       1,784       1,496

Prepayments for intangible assets                            1,468                   1,468

Total intangible assets                                      3,771       1,857       3,252       1,496

Total assets                                               403,229     426,913     405,070     310,659

 

TOTAL ASSETS                                               612,983     629,939     569,734     483,723

 

 

 

Liabilities and owners' equity                                Group       Group      Parent      Parent

                                                             6/30/99    12/31/98     6/30/99    12/31/98

Current liabilities

Borrowings

Debentures (except bank loans)                               102,004     104,260     101,547     103,447

Convertible debt                                               1,635       1,640

Current period long-term debt repayment                                   10,057

Short-term loans from financial institutions                   3,492      48,091                  21,237

Total current liabilities                                    107,131     164,048     101,547     124,684

Customer prepayments                                             419         848                      51

Supplier payables

Notes payable                                                 53,848      63,187      27,135      33,721

Total supplier payables                                       53,848      63,187      27,135      33,721

Other payables

Payables to subsidiaries and parent company                    3,587       2,809       5,788       3,564

Total other payables                                           3,587       2,809       5,788       3,564

Tax liabilities                                               10,892       8,358       3,655       4,734

Accrued expenses

Salary-related accrued expenses                                8,561       8,574       5,992       6,066

Interests payable                                              6,420       2,824       6,416       2,824

Other accrued expenses                                            83         203          34          10

Total accrued expenses                                        15,064      11,601      12,442       8,900

Total current liabilities                                    190,941     250,851     150,567     175,654

 

Non-current liabilities

Long-term borrowings

Non-convertible long-term debt                                20,576      24,326      19,637      23,452

Bank loans                                                     6,983      62,779

Borrowings from subsidiaries and parent company              106,579                 106,579

Total non-current liabilities                                134,138      87,105     126,216      23,452

Total liabilities                                            325,079     337,956     276,783     199,106

 

Minority interest of off-group shareholders                    3,147       5,119

 

Owners' equity

Share capital                                                377,217     377,217     377,217     377,217

Reserves

Mandatory reserve capital                                      1,416       1,416       1,416       1,416

Other reserves

Retained earnings                                            -94,016       5,200     -94,016       1,999

Profit/loss for the financial year                               220     -96,015       8,334     -96,015

Unrealized exchange differences                                  -80        -954

Total owners' equity                                         284,757     286,864     292,951     284,617

 

Total liabilities and owners' equity                         612,983     629,939     569,734     483,723