AUDITED INCOME STATEMENT 2007
consolidated, in thousand EEK and EUR
EEK EUR
2007 2006 2007 2006
Revenue 5 510 760 4 414 361 352 202 282 129
Cost of goods sold (4 731 032) (3 727 561) (302 369) (238 234)
GROSS PROFIT 779 728 686 800 49 833 43 895
Marketing expenses (32 472) (23 390) (2 075) (1 495)
Administrative and gen. expenses (213 806) (148 792) (13 665) (9 510)
Other operating income 5 704 148 205 365 9 472
Other operating expenses (18 109) (29 952) (1 157) (1 914)
OPERATING PROFIT 521 045 632 871 33 301 40 448
Financial income and expenses
from stocks of subsidiaries 0 2 326 0 149
Financial income and expenses from stocks of
associate comp. and joint ventures 76 440 17 461 4 885 1 116
Financial income and expenses from
other long-term financial investments 0 7 0 0
Interest expense (16 948) (14 288) (1 083) (913)
Foreign exchange gain (809) (6 064) (52) (388)
Other financial income 11 016 8 296 704 530
Other financial expenses (5) (1) (0) (0)
Total financial income and expenses 69 694 7 737 4 454 494
PROFIT BEFORE TAX 590 739 640 608 37 755 40 942
Corporate income tax expense (30 830) (49 917) (1 970) (3 190)
NET PROFIT FOR FINANCIAL YEAR 559 909 590 691 35 785 37 752
incl. net profit attributable to
equity holders of the
parent company 545 049 581 738 34 835 37 180
minority interest 14 860 8 953 950 572
Earnings per share for profit attributable
to the equity holders of the parent company
(basic and diluted, in EEK and EUR) 30,79 32,87 1,97 2,10
AUDITED BALANCE SHEET AS OF 31.12.2007
consolidated, in thousand EEK and EUR
EEK EUR
31.12.2007 31.12.2006 31.12.2007 31.12.2006
ASSETS
Current assets
Cash and cash equivalents 205 564 676 143 13 138 43 213
Trade and other receivables 1 201 942 860 531 76 818 54 998
Inventories 2 025 426 1 356 734 129 448 86 712
Assets held for sale 0 733 0 47
Total current assets 3 432 932 2 894 141 219 404 184 970
Non-current assets
Long-term financial investments 290 852 215 866 18 589 13 796
Investment property 7 361 3 900 470 249
Property, plant and equipment 172 912 90 445 11 051 5 781
Intangible assets 12 574 10 177 804 650
Total non-current assets 483 699 320 388 30 914 20 476
TOTAL ASSETS 3 916 631 3 214 529 250 318 205 446
LIABILITIES AND OWNERS' EQUITY
Current liabilities
Borrowings 304 879 283 792 19 485 18 138
Trade and other payables 1 032 210 1 100 264 65 970 70 320
Government grants 1 498 1 498 96 96
Short-term provisions 73 212 33 517 4 680 2 142
Total current liabilities 1 411 799 1 419 071 90 231 90 696
Non-current liabilities
Long-term borrowings 397 713 159 336 25 418 10 183
Long-term payables to suppliers 11 091 10 351 709 662
Long-term suppliers advance paym.46 332 12 925 2 961 826
Total non-current liabilities 455 136 182 612 29 088 11 671
Total liabilities 1 866 935 1 601 683 119 319 102 367
Equity
Minority interest 33 939 18 904 2 169 1 208
Equity attributable to equity holders of the parent company
Share capital 177 000 177 000 11 312 11 312
Statutory reserve capital 17 700 17 700 1 131 1 131
Currency translation adjustment (5 085) (5 751) (325) (368)
Retained earnings 1 826 142 1 404 993 116 712 89 796
Total equity attributable to equity
holders of the parent company 2 015 757 1 593 942 128 830 101 871
Total equity 2 049 696 1 612 846 130 999 103 079
TOTAL LIABILITIES AND EQUITY 3 916 631 3 214 529 250 318 205 446
Alar Lagus
Member of Board
+372 6 805 109
alar.lagus@merko.ee
