24.07.2000, Trigon Property Development, TLN

VIISNURK

BALANCE SHEET



CONSOLIDATED BALANCE SHEET 30.06.2000



Unaudited

in thousand EEK



ASSETS                                   30.06.00    31.12.99    30.06.99



CURRENT ASSETS

Cash and bank                               6,009       2,946       2,078

Marketable securities                          40         261         261

Customer receivables                       34,849      34,906      21,394

Other receivables                             465          81         710

Prepaid expenses                            8,337       5,483       3,742

Inventories

Raw materials                              21,458      14,426      13,854

Work-in-progress                           15,419      14,485      16,234

Finished goods                             30,430      12,641      29,350

Merchandise purchased for resale            5,730       5,363       3,748

Prepayments to suppliers                      321       1,668         702

Total                                      73,358      48,583      63,888



TOTAL CURRENT ASSETS                      123,058      92,260      92,073



NON-CURRENT ASSETS

Long-term financial assets                    605         605         605

Tangible assets

Plant and equipment                        44,805      40,884      39,958

Other equipment and fixtures               81,334      72,322      61,194

Other inventories                           5,758       5,517       4,500

Accumulated depreciation (-)              -54,713     -49,253     -45,726

Fixed assets under construction            23,537      16,443       8,243

Total                                     100,721      85,913      68,169

Intangible assets                             804         993         568



TOTAL NON-CURRENT ASSETS                  102,130      87,511      69,342



TOTAL ASSETS                              225,188     179,771     161,415





LIABILITIES AND OWNERS' EQUITY



CURRENT LIABILITIES

Debt obligations                            5,667       6,565      15,938

Customer prepayments                          121         453          95

Supplier payables                          24,259      22,417      17,827

Tax liabilities                             5,545       4,248       4,059

Accrued expenses                            6,297       7,784       4,853



TOTAL CURRENT LIABILITIES                  41,889      41,467      42,772



NON-CURRENT LIABILITIES

Non-convertible borrowings                 31,293

Long-term borrowings                       26,246      26,246      21,535

Other long-term debt                          393         393       1,092

Potential income tax liability                  0           0       2,859



TOTAL NON-CURRENT LIABILITIES              57,932      26,639      25,486



TOTAL LIABILITIES                          99,821      68,106      68,258



MINORITY INTEREST                               0           0       2,674



OWNERS' EQUITY

Share capital in nominal value             44,990      44,990      44,990

Capital surplus                            11,332      11,332      11,332

Mandatory legal reserve                     2,834       1,514       1,514

Retained earnings                          52,509      27,617      27,617

Net profit for the year                    13,702      26,212       5,030



TOTAL OWNERS' EQUITY                      125,367     111,665      90,483



TOTAL LIABILITIES AND OWNERS' EQUITY      225,188     179,771     161,415





Andrus Aljas

Financial director

+372 44 78 355