Published: 2019-03-25 15:10:00 CET
Siguldas CMAS
Annual Financial Report

Siguldas CMAS JSC Audited Annual Report for 2018

The Company’s net turnover in 2018 was 1.1 million euros, which is by 18 thousand euros or 1.6% bigger than in 2017.

The proportion of the revenue from the Company’s basic economic activities, if compared to year 2017, had not changed substantially − the revenue from the sales of the bull semen comprised 52.5% of the net turnover, whereas the milk laboratory services and processing of supervisory data services, taken together, accounted for 36.7% of the net turnover.

In 2018 the revaluation of the investment properties into the actual value resulted in profit of 2 thousand euros, whereas in 2017 it accounted for loss of 30 thousand euros.

The year 2018 resulted in losses of 11 thousand euros. Compared to 2017, the profit before taxes of the reporting year has decreased by 92 thousand euros, resulting from an increase of personnel and material costs.

PROFIT OR LOSS ACCOUNT

  2018
EUR
2017
EUR
Net sales 1 126 778 1 108 990
a) from agricultural activities 1 126 778 1 108 990
Changes in stock or ready-made goods and unfinished products 17 874 58 560
Other operating income (188) 42 066
Costs of materials: (511 496) (510 001)
a) raw materials and auxiliary costs of materials (408 943) (376 566)
b) other external costs (102 553) (133 435)
Personnel costs: (487 067) (456 244)
a) salaries for work (385 412) (364 461)
b) state social insurance compulsory contributions (91 481) (82 553)
c) other social insurance costs (10 174) (9 230)
Depreciation adjustments: (85 987) (68 140)
a) depreciation adjustments of fixed and intangible assets (52 784) (44 024)
b) depreciation adjustments of current assets which the company considers to be above the normal write-off amounts (33 203) (24 116)
Other operating costs (70 733) (94 387)
Profit or loss before enterprise income tax (10 819) 80 844
Enterprise income tax for the reporting year - (16 767)
Profit or loss after enterprise income tax calculation (10 819) 64 077
Revenue or expenses from the changes in the deferred tax assets or liabilities in the balance - 1 721
The profit or loss for the year
Equity per 1 share (EPS) (0.026) 0.156

JSC ‘Siguldas ciltslietu un mākslīgās apsēklošanas stacija’ is one of the largest high-quality breeding bull semen producers and suppliers in Latvia. The second largest field of the Company’s basic economic activities is milk testing services. The Company also provides other breeding related services – consultations on issues of cattle breeding, feeding and keeping, evaluation of cow exterior, artificial insemination of cows, initial processing of the monitoring data.

Valda Mālniece

Member of the Management Board, Manager of the Financial and Accounting department

E-mail: valda.malniece@sigmas.lv

Attachments


Siguldas_CMAS_Annual_report_for_2018_audited.pdf
Siguldas_CMAS_Supervisory_Board_report_2018.pdf
Siguldas_CMAS_Corporate_Governance_report_2018.pdf