MERKO EHITUS

BALANCE SHEET

 

CONSOLIDATED BALANCE SHEET AS OF 30.06.2000

 

Group MERKO EHITUS

Balance sheet as of 30.06.2000

consolidated, in EEK thousand, unaudited

 

                                                30.06.00  31.12.99  30.06.99

 

Cash and bank                                     24,911    25,239    19,999

 

Marketable securities                             62,519    27,699    15,650

 

Accounts receivable                              125,851    87,734    82,722

Allowance for doubtful accounts                     -200      -124       -30

Total customer receivables                       125,651    87,610    82,692

Receivables from subsidiaries                      1,735     1,735

and parent company

Receivables from associated companies              1,315     1,222     1,284

Other current receivables                         28,866    37,697    22,461

Total other receivables                           31,916    40,654    23,745

 

Interest receivable                                  352       467       334

Dividends receivable                                           218

Other accrued income                                  25       945     3,320

Total accrued income                                 377     1,630     3,654

 

Prepaid/refundable tax receivables                 4,474     2,587     7,330

Other prepaid expenses                            17,962    10,307     3,712

Total prepaid expenses                            22,436    12,894    11,042

 

Raw materials                                      2,572     2,535     2,691

Work-in-progress                                     160

Finished goods                                     1,755     1,133    24,176

Merchandise purchased for resale                   3,278     3,327     3,810

Prepayments to suppliers                           3,547     1,550       677

Total inventories                                 11,312     8,545    31,354

TOTAL CURRENT ASSETS                             279,122   204,271   188,136

 

Shares in associated enterprises                   4,888    11,207    14,144

Other shares, units and bonds                     15,278       115     1,565

Other non-current receivables                      4,520     4,028    26,536

Total long-term financial assets                  24,686    15,350    42,245

 

Land and buildings                                48,761    46,904    85,809

Building rights                                    1,603     1,603     7,787

Plant and equipment                               13,840    12,988    11,296

Other equipment and fixtures                       7,296     6,854     8,890

Accumulated depreciation                         -19,450   -16,138   -16,326

Fixed assets under construction                      168       110     1,303

Prepayments for fixed assets                                               8

Total tangible assets                             52,218    52,321    98,767

 

Development costs                                                          3

Purchased concessions, patents, licences, etc.        56         9

Goodwill                                             976     1,206     1,435

Total intangible assets                            1,032     1,215     1,438

 

TOTAL NON-CURRENT ASSETS                          77,936    68,886   142,450

 

TOTAL ASSETS                                     357,058   273,157   330,586

 

 

Debentures (except bank loans)                    17,165     6,107     2,129

Current period repayments of                                           1,725

long-term bank loans

Short-term loans from financial institutions       1,874     2,035     1,366

Total debt obligations                            19,039     8,142     5,220

 

Customer prepayments                              49,911    43,109    30,836

Accounts payable                                 102,576    52,526    46,166

 

Payables to subsidiaries and parent company           48        48     4,896

Payables to associated enterprises                    20       398     3,516

Total other payables                                  68       446     8,412

 

Tax liabilities                                    2,523     5,318     6,595

 

Salary-related accrued expenses                    6,475     5,572     5,254

Dividends payable                                  7,965

Interest payable                                                 9       352

Other accrued expenses                               190    11,433       831

Total accrued expenses                            14,630    17,014     6,437

 

Provisions                                         1,229     1,310     2,296

Other prepaid revenue                             34,150    29,485    20,284

TOTAL CURRENT LIABILITIES                        224,126   157,350   126,246

 

Non-convertible debt                               6,854     6,854     8,068

Bank loans                                                            32,544

Total long-term borrowings                         6,854     6,854    40,612

 

Due to subsidiaries and parent company                                    42

Other long-term provisions                                             2,012

TOTAL NON-CURRENT LIABILITIES                      6,854     6,854    42,666

 

TOTAL LIABILITIES                                230,980   164,204   168,912

 

Share capital                                     88,500    88,500    88,500

Capital surplus                                    2,950     2,950     2,950

Mandatory legal reserve                            4,875     4,875     4,875

Retained earnings                                      6    47,717    49,305

Net profit for the year                           25,824   -39,746    12,882

Exchange differences                                 617     1,818       809

TOTAL OWNERS' EQUITY                             122,772   106,114   159,321

 

MINORITY INTEREST                                  3,306     2,839     2,353

 

TOTAL LIABILITIES AND OWNERS' EQUITY             357,058   273,157   330,586

 

 

Ülo Metsaots

CFO

372 61 05 110