Annual Financial Report
"PATA Saldus" JSC Revised Annual report for the year 2017
„PATA Saldus” JSC has submitted its Revised Annual report for the year 2017, please refer to the attachment.
The core businesses of the commercial company are logging and primary wood processing – lumber production.
In its economic activities, company complies with FSC and PEFC and environmental protection requirements. For the compliance with these requirements, company takes corresponding monitoring and improvement measures on regular basis, but the share of these costs in production cost is not significant.
JSC PATA Saldus profit from operating activities in 2017 was 2 798 757 EUR with a net turnover of 50 916 550 euros, which represents earnings per share issued of 6,76 EUR. The Company's financial statements have been prepared based on the information available to board, existing laws and regulations, that gives a true and fair view of assets, liabilities, financial position and profit or loss that is generated by the Company and consolidated group. It is in interest of the Company to take care of their employees' social protection and well-being, because only then the development of the Company can be sustainable.
During the reporting year profit has increased by 2 024 973 EUR, net turnover has increased by 8 316 897 EUR. As at 31 December 2017, the Company's current assets exceeded current liabilities by 4 918 911 EUR, while total assets exceeded total liabilities by 10 501 128 EUR.
Chairman of the management board Andris Krastiņš