EESTI TELEKOM

BALANCE SHEET



CONSOLIDATED BALANCE SHEET AS OF 31.12.2001, EUR



AS EESTI TELEKOM AND SUBSIDIARY COMPANIES

In thousand of euros (EUR)

unaudited

                                31.12.2001 31.12.2000

                                            (restated)

ASSETS                                      

Current assets                              

Cash and cash equivalents           25,798     38,970

Short-term investments               3,872          0

Trade receivables, net              25,778     25,682

Other receivables                      446        401

Accrued income                       6,632      3,770

Prepaid expenses                     1,805      4,091

Inventories                          7,014      9,537

Total current assets                71,345     82,451

                                            

Non-current assets                          

Long term financial assets           2,192      1,867

Tangible assets, net               194,036    206,696

Intangible assets, net               3,588      4,321

Total non-current assets           199,816    212,884

                                                     

TOTAL ASSETS                       271,161    295,335

                                            

EQUITY AND LIABILITIES                      

Current liabilities                         

Interest bearing loans and           5,634     10,315

borrowings

Customer prepayments                   590        423

Accounts payable to suppliers       16,543     23,135

Other payables                          11          8

Tax liabilities                      2,254      1,582

Accrued expenses                     9,642     13,185

Provisions                           1,114        916

Prepaid revenue                        661      2,830

Total current liabilities           36,449     52,394

                                            

Non-current liabilities                     

Interest bearing loans and           3,139     12,845

borrowings

Other long-term payables                 0          0

Total non-current liabilities        3,139     12,845

                                            

Minority interest                        0        524

                                            

Equity                                      

Issued capital                      87,804     87,804

Share premium                       19,810     19,810

Statutory legal reserve              8,780      7,986

Retained earnings                   64,885     42,275

Net profit for the period           50,294     71,697

Total equity                       231,573    229,572

                                            

TOTAL EQUITY AND LIABILITIES       271,161    295,335





Hille Võrk

Financial Manager

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