SAPPI LTD (SAP) 6-K

COMBINED BALANCE SHEETS
AS OF 31 DECEMBER 2007, 2006 AND 2005
(Amounts in thousands of Euros, unless otherwise stated)
ASSETS
Note reference 2007 2006 2005
Non-current assets
Goodwill and other intangible assets 11 2,257 5,433 7,323
Property, plant and equipment 12 670,492 565,750 587,489
Financial receivables 21 2,100 - -
Other non-current assets 13 1,203 56 56
Total non-current assets 676,052 571,239 594,868
Current assets
Inventories 14 123,993 134,382 152,646
Accounts receivable and
other receivables 15 247,660 236,974 227,850
Income tax receivables 124 241 851
Cash and cash equivalents 16, 21 28,284 51,769 40,655
Total current assets 400,061 423,366 422,002
TOTAL ASSETS 1,076,113 994,605 1,016,870
LIABILITIES AND INVESTED EQUITY
Invested equity 673,317 460,381 466,560
Non-current liabilities
Deferred tax liabilities 10 50,652 40,066 50,860
Post employment benefit obligations 17 42,864 42,863 44,807
Provisions 18 3,051 5,216 2,987
Borrowings 19, 20, 21, 24 100,740 254,827 265,940
Other non-current liabilities 22 16,109 14,140 12,445
Total non-current liabilities 213,416 357,112 377,039
Current liabilities
Borrowings 20, 21, 24 24,046 35,901 37,399
Accounts payable and other liabilities 23 165,213 141,151 135,859
Income tax liabilities 121 60 13
Total current liabilities 189,380 177,112 173,271
TOTAL LIABILITIES AND INVESTED EQUITY 1,076,113 994,605 1,016,870
The accompanying notes are an integral part of the combined financial statements.
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