BALTIKA

BALANCE SHEET



CONSOLIDATED BALANCE SHEET 30.06.2000



Consolidated, unaudited

thousand EEK



ASSETS                                  30.06.2000  31.12.1999

CURRENT ASSETS

Cash and bank                               10,874      16,588

Marketable securities                        4,478       6,194

Customer receivables                        30,930      36,258

Other receivables                            1,731       1,788

Accrued income                                  36          69

Prepaid expenses                             9,728       8,639

Inventories                                105,033      95,765

TOTAL CURRENT ASSETS                       162,810     165,301

NON-CURRENT ASSETS

Long-term financial assets                     261       1,081

Tangible assets                             50,327      49,931

Land and buildings                          33,396      33,523

Plant and equipment                         59,175      56,289

Other inventories                           20,589      20,879

Accumulated depreciation                   -63,991     -60,760

Prepayments for non-current assets             100           0

Fixed assets under construction              1,058           0

Intangible assets                            1,309       1,875

TOTAL NON-CURRENT ASSETS                    51,897      52,887

TOTAL ASSETS                               214,707     218,188



LIABILITIES AND OWNERS' EQUITY

CURRENT LIABILITIES

Debt obligations                            42,599      45,697

Customer prepayments                         1,478         157

Supplier payables                           18,076      20,166

Tax liabilities                              2,891       3,921

Accrued expenses                             8,308      11,598

Current provisions                              73           0

TOTAL CURRENT LIABILITIES                   73,425      81,539

NON-CURRENT LIABILITIES

Long-term liabilities                       12,939      12,939

TOTAL NON-CURRENT LIABILITIES               12,939      12,939

TOTAL LIABILITIES                           86,364      94,478

Minority interest                            9,173       8,988

OWNERS' EQUITY                             119,170     114,722

Share capital                               48,000      48,000

Capital surplus                             24,920      24,039

Restricted reserves                         22,885      22,885

Retained earnings                           18,337      19,151

NET PROFIT (-LOSS) FOR THE FINANCIAL YE      5,178       1,193

Treasury shares                               -150        -546

TOTAL LIABILITIES AND OWNERS' EQUITY       214,707     218,188





Ülle Järv

Member of the Management Board

+372 63 02 741