AS PRO KAPITAL

CASH FLOW STATEMENT

01.01-31.12.98

 

Consolidated, audited

(in EEK)

 

    1. Cash flows from operating activities                      

  1.1. Effect of net profit on cash flows                             

1.1.1. Net profit (+)                                    9 672 097

1.1.2. Depreciation of non-current assets (+)              691 203

       Total 1.1. Cash generated from operations        10 363 300

                                                                  

  1.2. Effect of changes in current assets and liabilities (except                     

       monetary means)

1.2.1. Change in other receivables                    -  4 217 952

1.2.2. Change in accounts receivable                    14 401 786

1.2.3. Change in receivables from subsidiaries       -  53 920 642

1.2.4. Uncollected revenues during the period           -  774 381

1.2.5. Change in future period expenses               -  2 218 849

1.2.6. Change in debt obligations                        4 386 462

1.2.7. Change in customer prepayments                   21 266 109

1.2.8. Change in inventories                            17 797 262

1.2.9. Change in supplier payables                    -  7 497 409

1.2.10 Change in tax liabilities                         3 671 010

       Total 1.2. Net effect of changes in current

                  assets and liabilities              -  7 106 601

       Net cash provided by operating activities      -  3 256 699

      

     2 Cash flows from investing activities                      

  2.1. Financial investments during the year          - 88 896 796

  2.2. Purchase of non-current investments          -   23 205 523

  2.3. Construction work in progress                  - 39 409 426

       Net cash used by investing activities         - 151 511 745

                                                                  

    3. Cash flows from financing activities                         

  3.1. Proceeds from long-term borrowings               37 112 739

  3.2. Repayment of long-term borrowings              - 26 187 500

  3.3. Proceeds from short-term borrowings               2 305 602

  3.4. Repayment of short-term borrowings             -  1 562 500

  3.5. Current period long-term debt repayment           2 187 500

  3.6. Decrease/increase in nominal share capital       35 000 000

  3.7. Capital surplus                                 102 000 000

       Net cash provided by financing activities       150 855 841

                                                                  

       Net cash flows                                    2 600 795

      

      

 

               Beginning balance 01.01.1998          1 414 242

               End balance 31.12.1998                4 015 037

 

 

Ilona Saari

Financial Manager

Pro Kapital

Tel. +372 614 4920