AS FAKTO

BALANCE SHEET

31.12.98

 

Consolidated, unaudited

in thousand EEK

 

ASSETS

CURRENT ASSETS                                                  31.12.98    31.12.97      Change

 

 

  Cash and bank                                                    4 976       3 227      54,19%

 

    Accounts receivable

    Customer receivables                                          21 231      19 219      10,47%

    Allowance for doubtful accounts (less)                        -2 080      -1 160      79,32%

  total accounts receivable                                       19 151      18 059       6,05%

 

    Other receivables

    Other short-term receivables                                   7 538       3 478     116,77%

  Total other receivables                                          7 538       3 478     116,77%

 

    Accrued income

    Intrests                                                          49           1    4884,53%

  Total accrued income                                                49           1    4884,53%

 

    Prepaid expenses and taxes

    Prepaid/ refundable taxes                                      3 463       4 462     -22,38%

    Prepaid expenses                                                 541         440      22,85%

  Total prepaid expenses and taxes                                 4 004       4 902     -18,32%

 

    Inventories

    Raw materials                                                      8          10     -24,87%

    Work-in-progress                                                 386         248      55,45%

    Merchandise purchased for resale                              30 045      21 840      37,57%

    Prepayments to suppliers                                         294         635     -53,70%

  Total inventories                                               30 733      22 734      35,18%

 

TOTAL CURRENT ASSETS                                              66 451      52 401      26,81%

 

NON-CURRENT ASSETS

    Long-term financial investments

    Goodwill                                                       1 297       1 677     -22,64%

    Shares in subsidiaries                                           400         400       0,00%

    Other long-term receivables                                    7 093           0

    Total long-term financial investments                          8 791       2 077     323,22%

 

    Non-current physical assets

    Land and buildings (acquisition cost)                         72 074      49 172      46,58%

    Plant and equipment (acquisition cost)                        19 941      15 880      25,57%

    Other equipment and fixtures                                   3 141       5 507     -42,97%

    Accumulated depreciation (less)                              -21 272     -17 125      24,22%

    Total non-current physical assets                             73 884      53 434      38,27%

  

    Intangible assets

    Concessions, patents, licences, etc. purchased                   252         123     104,40%

    Total intangible assets                                          252         123     104,40%

  

TOTAL NON-CURRENT ASSETS                                          82 926      55 634      49,06%

 

TOTAL ASSETS                                                     149 377     108 035      38,27%

 

LIABILITIES AND OWNERS' EQUITY

 

                                                              31.12.1998    31.12.97      Change

CURRENT LIABILITIES

 

    Short- term debt obligations

    Current long-term debt repayment                               6 070       3 998      51,82%

    Short-term loans from credit institutions                      3 418       3 818     -10,46%

    Debentures                                                     4 164         600     594,04%

  Total short-term debt obligations                               13 653       8 416      62,22%

 

  Customer prepayments                                             1 977       4 423     -55,31%

 

  Supplier payables                                               46 033      34 409      33,78%

 

  Other payables

    Other liabilities                                                  0          39    -100,00%

    Total other payables                                               0          39    -100,00%

 

  Tax liabilities                                                  4 424       3 323      33,12%

 

    Accrued expenses 

    Salary-related expenses                                        2 773       1 441      92,37%

    Dividends payable                                                  0           1    -100,00%

    Intrests payable                                               1 774           55   3138,59%

    Other accrued expenses                                           279       2 604     -89,29%

    Total accrued expenses                                         4 826       4 101      17,68%

 

TOTAL CURRENT LIABILITIES                                         70 912      54 711      29,61%

 

NON-CURRENT LIABILITIES

 

    Long-term debt obligations

    Nonconvertible long-term debt                                    340         532     -36,18%

    Bank loans                                                    27 067      14 335      88,82%

    Other long-term debt obligations to credit institutions        8 455       1 235     584,79%

  Total long-term debt obligations                                35 862      16 102     122,72%

 

    Other long-term debt obligations

    Long-term customer prepayments                                     0         108    -100,00%

    Income tax of the coming periods                               2 591       2 508       3,31%

  Total other long-term debt obligations                           2 591       2 616      -0,96%

 

TOTAL NON-CURRENT LIABILITIES                                     38 453      18 718     105,43%

 

TOTAL LIABILITIES                                                109 364      73 429      48,94%

 

  Minority interest                                                3 753       2 772      35,39%

 

OWNERS' EQUITY

  Share capital in nominal value                                  16 501      16 501       0,00%

  Capital surplus                                                  7 307       7 307       0,00%

  Reserves                                                           502         281      78,67%

  Retained earnings                                                6 452       2 978     116,62%

  Profit/loss for the period                                       5 498       4 767      15,34%

  TOTAL OWNERS' EQUITY                                            36 260      31 834      13,90%

 

TOTAL LIABILITIES AND OWNERS' EQUITY                             149 377     108 035      38,27%