BALTIKA

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, AS AT 31.12.2000



Consolidated, unaudited

in EEK thousand





ASSETS                                         31.12.00  31.12.99

CURRENT ASSETS

Cash and bank                                    15,298    16,588

Marketable securities                               431     6,194

Customer receivables                             45,335    36,258

Other receivables                                 2,404     1,788

Accrued income                                       40        69

Prepaid expenses                                  7,483     8,639

Inventories                                     105,500    95,765

TOTAL CURRENT ASSETS                            176,491   165,301

NON-CURRENT ASSETS

Long-term financial assets                          298     1,081

Tangible assets                                  54,746    49,931

Land and buildings (acquisition cost)            35,044    33,523

Plant and equipment                              60,070    56,289

Other inventories                                27,869    20,879

Accumulated depreciation                        -68,565   -60,760

Prepayments for non-current assets                  255         0

fixed assets under construction                      73         0

Intangible assets                                 1,886     1,875

TOTAL NON-CURRENT ASSETS                         56,930    52,887

TOTAL ASSETS                                    233,421   218,188



LIABILITIES AND OWNERS' EQUITY

CURRENT LIABILITIES

Debt obligations                                 51,637    45,697

Customer prepayments for goods and services         731       157

Supplier payables                                28,617    20,166

Tax liabilities                                   6,353     3,921

Accrued expenses                                  7,622    11,598

Current provisions                                  120         0

TOTAL CURRENT LIABILITIES                        95,080    81,539

NON-CURRENT LIABILITIES

Long-term liabilities                             1,344    12,939

TOTAL NON-CURRENT LIABILITIES                     1,344    12,939

TOTAL LIABILITIES                                96,424    94,478

Minority interest                                 9,172     8,988

OWNERS' EQUITY                                  127,825   114,722

Share capital                                    48,000    48,000

Capital surplus                                  24,910    24,039

Restricted reserves                              22,885    22,885

Retained earnings                                17,768    19,151

NET PROFIT FOR THE FINANCIAL YEAR                14,262     1,193

Treasury shares                                       0      -546

TOTAL LIABILITIES AND OWNERS' EQUITY            233,421   218,188





Ülle Järv

Management Board member

+372 63 02 741