FAKTO

BALANCE SHEET



CONSOLIDATED BALANCE SHEET, AS AT 31.12.00



Consolidated, unaudited

in thousand EEK



Assets

Current assets                                      31.12.00 31.12.99



Cash and bank                                         20,767    8,713



Customer receivables

Accounts receivable                                   15,341   13,521

Allowance for doubtful accounts (less)                -1,396   -1,024

Total customer receivables                            13,945   12,497



Other receivables

Other current receivables                              7,981    8,999

Total other receivables                                7,981    8,999



Accrued income

Calculated interests                                     130       49

Total accrued income                                     130       50



Prepaid expenses and prepaid/refundable tax receivables

Prepaid tax receivables                                2,591    3,366

Prepaid expenses                                         504      351

Total prepaid expenses and prepaid/

refundable tax receivables                             3,095    3,717



Inventories

Raw materials                                             12       12

Work-in-progress                                         174      165

Merchandise purchased for resale                      26,831   22,472

Prepayments to suppliers                                 470      295

Total inventories                                     27,488   22,944



Total current assets                                  73,405   56,920



Non-current assets

Long-term financial assets

Stock and shares in subsidiaries                           0        0

Goodwill                                                 538      918

Stock and shares in associated companies                 100        0

Other non-current receivables                          2,034    4,562

Total long-term financial assets                       2,672    5,479



Tangible assets

Land and building                                     71,609   72,408

Plant and equipment                                   18,692   15,912

Other equipment and fixtures                           6,576    6,625

Accumulated depreciation (less)                      -27,645  -24,952

Total tangible assets                                 69,232   69,992



Intangible assets

Purchased patents, licenses, etc.                        389      557

Total intangible assets                                  389      557



Total non-current assets                              72,293   76,028



Total assets                                         145,698  132,948



Liabilities and owners' equity

                                                    31.12.00 31.12.99

Current liabilities



Short-term borrowings

Current period repayment of long-term debt                 0    4,888

Short-term loans from financial institutions           4,355    4,981

Debentures                                             5,510    4,297

Total short-term borrowings                            9,866   14,166



Customer prepayments                                   2,022    2,701



Supplier payables                                     36,464   35,057



Tax liabilities                                        3,768    4,516



Accrued expenses

Salary-related accrued expenses                        2,532    2,617

Interest payable                                          34    2,826

Other accrued expenses                                   134      919

Total accrued expenses                                 2,700    6,363



Provisions                                             1,743      441



Total current liabilities                             56,562   63,243



Non-current liabilities



Long-term borrowings

Non-convertible long-term debt                         1,623       40

Bank loans                                            16,825   25,823

Other long-term borrowings

from financial institutions                           29,088    6,106

Total long-term borrowings                            47,536   31,968



Total non-current liabilities                         47,536   31,968



Total liabilities                                    104,098   95,212



Minority interest                                      4,524    3,175



Owners' equity

Share capital in nominal value                        16,501   16,501

Capital surplus                                        7,307    7,307

Restricted reserves                                      808      767

Retained earnings                                      9,769    9,168

Profit/loss for the financial year                     2,691      820

Total owners' equity                                  37,075   34,562



Total liabilities and owners' equity                 145,698  132,948





Toivo Urva

Management Board chairman

+372 638 9200