AS FAKTO

BALANCE SHEET

31.03.1999

 

Consolidated, unaudited

in thousand EEK

 

ASSETS

Current assets                                  31.03.99   31.03.98     Change        (%)   31.12.98

 

Cash and bank                                      6 320      3 050      3 270        107%      4 976

 

  Accounts receivable 

  Customer receivables                            18 931     24 507     -5 576        -23%     19 359

  Allowance for doubtful accounts (less)          -1 836     -1 160        -676        58%     -1 914

Total accounts receivable                         17 096     23 347     -6 252        -27%     17 445

 

  Other receivables

  Other current receivables                        7 484      3 043      4 442        146%      7 538

Total other receivables                            7 484      3 043      4 442        146%      7 538

 

  Accrued income

  Calculated interests                                  0          0          0                    49

  Other accrued income                                  0          0          0                     0

Total accrued income                                    0          1         -1      -100%         49

 

  Prepaid expenses and prepaid/refundable tax receivables

  Prepaid/refundable tax receivables                3 338      6 912     -3 575        -52%     3 369

  Prepaid expenses			              479        505        -25         -5%       541

Total prepaid expenses and prepaid/refundable 

tax receivables     				    3 817      7 417     -3 600        -49%     3 910

 

  Inventories

  Raw materials                                        11         11         -1         -5%         8

  Work-in-progress                                    239        325        -86        -26%       386

  Merchandise purchased for resale                 34 625     24 792      9 833         40%    30 045

  Prepayments to suppliers                            225        405       -180        -44%       294

Total inventories                                  35 100     25 534      9 566         37%    30 733

 

Total current assets                               69 817     62 392      7 425         12%    64 651

 

Non-current assets

  Long-term financial assets

  Goodwill		                            1 202      1 582        -380       -24%     1 297

  Stock and shares in affiliated companies            400        400           0         0%       400

  Other non-current receivables                     6 831          0       6 831                7 093

  Total long-term financial assets                  8 433      1 982       6 451        325%    8 791

  

  Tangible assets

  Land and building (acquisition cost)             72 074     49 132     22 942         47%    72 074

  Plant and equipment (acquisition cost)           15 084     18 838     -3 754        -20%    19 941

  Other equipment and fixtures			    6 714      5 303      1 411         27%     3 140

  Accumulated depreciation (less)                 -21 461    -18 676     -2 785         15%   -21 272

  Unfinished building                                   0        672       -672       -100%         0

  Prepayments for tangible assets                       0        465       -465       -100%         0

  Total tangible assets                            72 411     55 734     16 677         30%    73 883

 

  Intangible assets

  Purchased  patents, licenses, trademarks, etc.      345        154        191       124%        246

  Total intangible assets                             345        154        191       124%        246

 

Total non-current assets                           81 189     57 870     23 319         40%    82 920

 

Total assets                                      151 006    120 262     30 744         26%   147 571

 

 

Liabilities and owners' equity

                                                31.03.99   31.03.98     Change        (%)   31.12.98

 

Current liabilities

 

  Short-term debt obligations

  Long-term debt repayments                        3 660      3 008        652         22%     6 070

  Short-term loans from financial institutions     8 857      3 421      5 437        159%     3 418

  Debentures                                       4 457      2 414      2 043         85%     4 164

Total debt obligations                            16 975      8 843      8 132         92%    13 653

 

Customer prepayments                               1 293      5 091     -3 798        -75%     1 975

 

Supplier payables                                 44 595     42 191      2 404          6%    44 074

 

Other payables

  Other payables                                     137          0        137      53578%         0

  Total other payables                               137          0        137      53578%         0

 

Tax liabilities                                    6 020      4 520      1 500         33%     4 424

 

  Accrued expenses

  Salary-related accrued expenses                  2 541      1 879         661        35%     2 774

  Dividends payable                                  697          1         696     64791%         0

  Interests payable                                1 966      2 605        -639       -25%     1 965

  Other accrued expenses                             675         29         646      2238%       279

  Total accrued expenses                           5 879      4 514       1 364        30%     5 018

 

Total current liabilities                         74 898     65 159       9 739        15%    69 143

 

Non-current liabilities

 

  Long-term debt obligations

  Non-convertible long-term debt                     163        978       -815        -83%       340

  Bank loans                                      27 050     14 314     12 736         89%    27 067

  Other long-term debts to financial institutions  7 357      1 635      5 723        350%     8 455

Total long-term debt obligations                  34 570     16 926     17 644        104%    35 862

 

  Other long-term payables

  Deferred income tax liability                    2 294      2 649        -355       -13%     2 591

Total other long-term payables                     2 294      2 649        -355       -13%     2 591

 

Total non-current liabilities                     36 864     19 575      17 289        88%    38 453

 

Total liabilities                                111 762     84 734      27 028        32%   107 596

 

Minority interest                                  3 404      3 045         359        12%     3 753

                                                                359          12

Owners' equity

Share capital in nominal value                    16 501     16 501           0         0%    16 501

Capital surplus                                    7 307      7 307           0         0%     7 307

Reserves                                             502        281         221        79%       502

Retained earnings                                 11 741      7 745       3 996        52%     6 452

Profit/loss for the financial year                  -211        649        -860      -133%     5 461

Total owners' equity                              35 840     32 483       3 357        10%    36 222

 

Total liabilities and owners' equity             151 006    120 262      30 744        26%   147 571

 

 

TOIVO URVA

Chairman of the Management Board

+372 6 389 222