TALLINNA KÜLMHOONE

BALANCE SHEET



CONSOLIDATED BALANCE SHEET 30.11.99



Consolidated, unaudited

in thousand EEK

                                             30.11.99 31.12.98 30.11.98



ASSETS

Cash and marketable securities                    3881    1843    1419

Customer receivables                             29416   17681   18833

Other receivables                                 2787    5442   17145

TOTAL LIQUID ASSETS                              36084   24966   37397



Finished goods                                    8041    2621    3551

Inventories                                       7633    7764    8444

Work-in-progress                                   152      10      65

Goods and other                                  20245   13642   12667

TOTAL GOODS AND INVENTORIES                      36071   24037   24727

TOTAL CURRENT ASSETS                             72155   49003   62124



Long-term financial assets                                6152    4034

Non-current assets and unrealized capital inve  122928  121573   99076

Intangible assets                                                  115

Goodwill                                          2720    3529    7494

TOTAL NON-CURRENT ASSETS                        125648  131254  110719

TOTAL ASSETS                                    197803  180257  172843



LIABILITIES AND OWNERS EQUITY

SHORT-TERM LOANS                                 13978   24044   11203

Supplier payables                                27791   21454   17402

Customer prepayments                                 3      15      25

Salary-related accrued expenses                   4198    3391    2901

Tax liabilities                                   2858    1492    1476

Other short-term payables                          363     847      31

TOTAL CURRENT LIABILITIES                        49191   51243   33038



NON-CURRENT LIABILITIES                          69867   68919   73246

TOTAL LIABILITIES                               119058  120162  106284



MINORITY INTEREST                                  445     272     255

Share capital                                    33870   33870   33870

Capital surplus                                  49000   49000   49000

Restricted reserves                               1087     586     586

Retained earnings                               -24130  -32976  -32976

Net profit for the year                          18476    9346   15827

Treasury shares                                     -3      -3      -3

TOTAL OWNERS EQUITY                              78300   59823   66304

TOTAL LIABILITIES AND OWNERS EQUITY             197803  180257  172843





Evald Karu

Financial Director

+372 22 13 369