Notes to the Financial Statement
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 1-8
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 9-21
NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS 22-30
NOTES TO THE PARENT COMPANY FINANCIAL STATEMENTS 31-43
	Displaying Notes 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43 out of total 43 notes

NOTES TO THE PARENT COMPANY BALANCE SHEET
31. FIXED ASSETS
	Intangible assets				Tangible assets
	Intangible rights	Goodwill	Other capital- ised expen- diture	Advance payments and construction in progress	Land areas	Buildings	Machinery and equipment	Other tangible assets	Advance payments and con- struction in progress
Acquisition value 1 Feb 2005	9,281	39,594	1,708	258	928	61,159	31,737	275	683
Increase	190			916		1,708	886
Decrease								-41	-632
Acquisition value 31 Jan 2006	9,471	39,594	1,708	1,174	928	62,867	32,623	234	51
Accumulated depr. 1 Feb 2005	-8,640	-37,411	-1,639	0	0	-25,727	-28,713	0	0
Increase	-345	-557	-4			-1,912	-1,010
Accumulated depr. 31 Jan 2006	-8,985	-37,968	-1,643	0	0	-27,639	-29,723	0	0
Value adjustments 1 Feb 2005 - 31 Jan 2006					420	2,355
Bookvalue 31 Jan 2006	486	1,626	65	1,174	1,348	37,583	2,900	234	51
Bookvalue 31 Jan 2005	641	2,183	69	258	1,348	37,787	3,024	275	683

32. GROUP COMPANIES
Acquisition value 1 Feb 2005		431,956
Increase		958
Acquisition value 31 Jan 2006		432,914
Company	Registered office	Group share of		Parent company share of holding %	Shares owned by the parent company
		holding and votes %	share- holders' equity		Number of shares	Nominal value	Book value
Nomeco A/S	Copenhagen, Denmark	100	127,464	100	7,200,000	19,293	197,155
Unikem A/S	Copenhagen, Denmark	100	180	-	-	-	-
Viminco A/S	Skaelskor, Denmark	100	1,166	-	-	-	-
Hermedico A/S	Copenhagen, Denmark	100	2,501	-	-	-	-
Forex A/S	Silkeborg, Denmark	100	631	-	-	-	-
Tamro Sweden AB	Stockholm, Sweden	100	15,256	100	1,000	11	34,418
Tamro AB	Gothenburg, Sweden	100	111,172	-	-	-	-
Tamro SIA	Riga, Latvia	100	9,068	100	215	1,884	1,376
Medinord Oy	Vantaa, Finland	100	436	100	163	163	895
Hansa Pharma SIA	Riga, Latvia	100	2,159	-	-	-	-
Brasas Aptieka SIA	Riga, Latvia	100	6	-	-	-	-
Aromalatfarm SIA	Riga, Latvia	100	-10	-	-	-	-
Riela SIA	Riga, Latvia	100	-66	-	-	-	-
Bulduru SIA	Riga, Latvia	100	6	-	-	-	-
Koduapteek OÜ	Tallinn, Estonia	100	414	-	-	-	-
Aptesel OÜ	Saue vald Harjumaa, Estonia	100	3	-	-	-	-
Ginter group OÜ	Saue vald Harjumaa, Estonia	100	-116	-	-	-	-
Tamro UAB	Kaunas, Lithuania	100	30,936	100	51,810	6,002	30,537
Karoliniskiu vaistine UAB	Vilnius, Lithuania	100	401	-	-	-	-
Armedikos vaistine UAB	Kaunas, Lithuania	100	-261	-	-	-	-
Ortofarma UAB	Kaunas, Lithuania	100	31	-	-	-	-
Farmasijos Projektai UAB	Kaunas, Lithuania	100	228	-	-	-	-
Vogne UAB	Klaipeda,Lithuania		-540	-	-	-	-
Gintaro vaistine UAB	Silute,Lithuania		-31	-	-	-	-
Ramuciu vaistine UAB	Kaunas,Lithuania		-810	-	-	-	-
Apokjeden AS	Skårer, Norway	100	117,579	100	1,083,691	13,392	131,328
Apokjeden Distribusjon AS	Skårer, Norway	100	37,312	-	-	-	-
Apotek 1 Norge AS	Skårer, Norway	100	103,162	-	-	-	-
Tamro Eesti AS	Tallinn, Estonia	100	10,151	100	5,500	352	530
Tamro MedLab Oy	Vantaa, Finland	100	11,338	99	5,000	5,000	5,000
Tamro MedLab AB	Gothenburg, Sweden	100	1,454	-	-	-	-
Tamro Health Care AB	Gothenburg, Sweden	100	191	-	-	-	-
Tamro MedLab A/S	Roskilde, Denmark	100	1,568	-	-	-	-
Danpleje A/S	Århus, Denmark		1,604	-	-	-	-
Tamro MedLab AS	Skårer, Norway	100	2,098	-	-	-	-
Tamro MedLab OÜ	Tallinn, Estonia	100	852	-	-	-	-
Tamro MedLab SIA	Riga, Latvia	100	266	-	-	-	-
Tamro MedLab UAB	Vilnius, Lithuania	100	-188	-	-	-	-
Tamro Finance Oy	Vantaa, Suomi	100	31,779	99	99	990	29,700
Kemistien Oy	Vantaa, Finland	100	1,685	100	1,000,000	1,680	1,682
Sponfinans, Aurum-Pharmakon, Oy	Vantaa, Finland	100	40	100	489	49	49
Tamro Russia Oy	Vantaa, Finland	100	157	100	100,000	100	170
Other subsidiaries, incl. non-operational							74
							432,914

33. OTHER SHARES AND PARTICIPATIONS
	Shares owned by the parent company
	Number of shares	Nominal value
ZAO Rosta		14,814
HEX Plc	24,400	27
Telephone company shares etc.		7
Real estate and other shares		111
	24,400	14,959
(Figures are in EUR thousands unless otherwise stated)	31 Jan 2006	31 Jan 2005
34. LONG-TERM RECEIVABLES
Loan receivables	0	2,094
Deferred income tax asset	475	3,030
	475	5,124
35. SHORT-TERM RECEIVABLES
Accounts receivable	46,769	54,501
Short-term receivables from Group companies	129,707	231,636
Loan receivables	2,847	1
Other short-term receivables	9,671	15,440
	188,994	301,578
Short-term receivables from Group companies
Accounts receivable	1,269	2,478
Prepaid expenses and accrued income	491	1,263
Loan receivables	127,481	227,895
Other short-term receivables	466	0
	129,707	231,636
36. PREPAID EXPENSES AND ACCRUED INCOME
Financial items	6,599	14,598
Income tax receivable	2,314	0
Prepaid expenses	433	494
Other income	325	348
Total	9,671	15,440

37. CHANGES IN SHAREHOLDERS' EQUITY
	Share capital	Share premium account	Revaluation reserve	Fund for own shares	Retained earnings	Total equity
Equity 31 Dec 2003	114,837	5,640	1,093	975	408,478	531,023
Dividend					-84,727	-84,727
Net profit for the year					12,300	12,300
Other change				-975		-975
Equity 31 Jan 2005	114,837	5,640	1,093	0	336,051	457,621
Dividend					-121,366	-121,366
Net profit for the year					9,051	9,051
Other change						0
Equity 31 Jan 2006	114,837	5,640	1,093	0	223,736	345,306

(Figures are in EUR thousands unless otherwise stated)	31 Jan 2006	31 Jan 2005
38. ACCUMULATED DEPRECIATION DIFFERENCE
Accelerated depreciation
Intangible rights	134	211
Goodwill	1,626	2,183
Other capitalised expenditure	2	2
Buildings	24,586	25,666
Machinery and equipment	-474	-588
	25,874	27,474
39. OBLIGATORY RESERVES
Pension reserves	357	610
Other obligatory reserves	333	506
	690	1,116
40. SHORT-TERM LIABILITIES
Pension fund loans	0	2,712
Loans from financial institutions and interest bearing advance payments	40,914	22,723
Accounts payable	116,449	119,668
Liabilities to group companies	214,668	201,414
Accrued expenses and deferred income	9,359	21,753
Other current liabilities	2,590	7,894
	383,980	376,164
Liabilities to Group companies
Accounts payable	425	150
Accrued liabilities	44	127
Other short-term liabilities	214,199	201,137
	214,668	201,414
41. ACCRUED EXPENSES AND DEFERRED INCOME
Personnel expenses	7,627	4,496
Financial items	104	15,052
Income tax liability	0	933
Other accrued expenses and deferred income	1,628	1,272
Total	9,359	21,753
OTHER NOTES
42. CONTINGENT LIALIBILITIES	31 Jan 2006	31 Jan 2005
Mortgages (1)
For own debts	841	841
Guarantees
For subsidiaries	65,241	14,555
For debts of others	-	469
	65,241	15,024
Other commitments
Leasing commitments
Next year	1,202	1,054
Over one year	1,701	1,023
Rent commitments	316	733
	3,219	2,810
(1) Parent company's liabilities, secured by mortgages
43. DERIVATIVE FINANCIAL INSTRUMENTS	31 Jan 2006	31 Jan 2005
Derivatives - notional amounts
Currency instruments
Currency forward contracts	84,829	205,473
Interest rate instruments
Interest rate swaps	-	10,000
Derivatives - market value
Currency instruments
Currency forward contracts	81	-64
Interest rate instruments
Interest rate swaps	-	-164
The notional amounts of derivatives summarised here do not represent amounts actually exchanged between the parties and are thus not a measure of the parent company's derivatives-related exposure. According to the Finance Policy derivatives are used only to hedge the underlying business.

	Displaying Notes 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43 out of total 43 notes