Siguldas CMAS

Interim / Quarterly Report • Nov 23, 2023

Joint Stock Company 'SIGULDAS CILTSLIETU UN MĀKSLĪGĀS APSĒKLOŠANAS STACIJA'

Unaudited financial information

for the nine months

of the year 2023

Index of Contents

Information on the Company	3
Profit or Loss Account	4
Balance sheet	5
Cash flow statement	7
Statement on changes in shareholders' equity	8
Report on Management Liability	9

Page

Information on the Company

Company's name	SIGULDAS CILTSLIETU UN MĀKSLĪGĀS APSĒKLOŠANAS STACIJA
Company's legal status	Joint stock company
Registration number, place and date	40003013295, Riga, 26 July 1991
	Registration in the Commercial Register on 19 June 2004
Legal address	'Kalnabeites 8', Sigulda, Sigulda municipality, LV-2150
Shareholders holding more than 5% of the total number of voting shares	'Siguldas mākslīgās apsēklošanas stacija' Ltd. (49.92%), registration No. 40003311954
	SCI AG (8.02%) Bartholomäus-Arnoldi-Str. 82, DE-61250 Usingen, Germany
	Oļegs Radčenko (5.19%)
Members of the Management Board	Nils Ivars Feodorovs, chairman of the Management Board Sarmīte Arcimoviča, member of the Management Board Valda Mālniece, member of the Management Board
Members of the Supervisory Board	Inita Bedrīte, chairwoman of the Supervisory Board Guntis Mecaucis, deputy chairman of the Supervisory Board from 21.04.2023 Maija Beča, deputy chairwoman of the Supervisory Board till 21.04.2023 Līga Kubuliņa, member of the Supervisory Board from 21.04.2023 Baiba Mecauce, member of the Supervisory Board Edgars Nartišs, member of the Supervisory Board from 21.04.2023
Reporting period	01.01.2023 – 30.09.2023
Previous reporting period	01.01.2022 – 30.09.2022
Auditors	Olga Kuzmiča Sworn Auditor Certificate No. 207
	'Orients Audit & Finance' Ltd. Gunāra Astras street 8B Riga, LV-1082, Latvia Sworn Auditors' Commercial Company's license No. 28

Profit or loss account

	30.09.2023 EUR	30.09.2022 EUR
Net sales	1 121 191	1 125 289
a) from agricultural activities	1 121 191	1 125 289
Changes in stock of ready-made goods and unfinished products	42 717	38 065
Other operating income	35 008	41 009
Costs of materials:	(594 011)	(577 541)
a) raw materials and auxiliary costs of materials	(527 485)	(481 665)
b) other external costs	(66 526)	(95 876)
Personnel costs:	(367 207)	(397 757)
a) salaries for work	(287 470)	(313 735)
b) state social insurance compulsory contributions	(69 556)	(73 176)
c) other social insurance costs	(10 181)	(10 846)
Depreciation adjustments:	(66 884)	(33 752)
a) depreciation adjustments of fixed and intangible assets	(66 881)	(33 747)
b) depreciation adjustments of current assets which the company considers to be above the normal write-off amounts	(3)	(5)
Other operating costs	(49 739)	(56 926)
Interest payments and similar costs:	(4 761)	-
a) to other persons	(4 761)	-
Profit or loss before enterprise income tax	116 314	138 387
Enterprise income tax for the reporting year	(56)	(134)
Profit or loss after enterprise income tax calculation	116 258	138 253
The profit or loss for the year	116 258	138 253
Earnings per 1 share (EPS)	0.275	0.327

Chairman of the Management Board

Nils Ivars Feodorovs Sarmīte Arcimoviča Valda Mālniece Member of the Management Board

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

Balance sheet

Assets	30.09.2023 EUR	31.12.2022 EUR
Long-term investments
Intangible assets
Concessions, patents, licenses, trademarks and similar rights	-	-
Intangible assets total	-	-
Fixed assets (fixed assets and investment properties)
Fixed assets
Immovable properties - land parcels, buildings and constructions	103 040	110 243
Productive animals	34 089	43 246
Long-term investments in leased fixed assets	137 477	-
Technological equipment and machinery	2 088	2 505
Other fixed assets and inventory	52 257	59 084
Prepayments for fixed assets	-	47 092
Fixed assets total	328 951	262 170
Investment properties	119 000	119 000
Long-term financial investments
Other securities and investments	684	684
Long-term financial investments total	684	684
Long-term investments total	448 635	381 854
Current assets
Stock
Raw materials, basic materials and auxiliary materials	21 402	21 111
Ready-made goods and goods for sale	1 050 477	949 074
Stock total	1 071 879	970 185
Receivables
Trade receivables	456 661	244 775
Other receivables	7 239	8 117
Prepaid expenses	8 180	10 228
Accrued income	21 651	31 266
Receivables total	493 731	294 386
Cash	118 766	302 771
Current assets total	1 684 376	1 567 342
Assets total	2 133 011	1 949 196

Balance sheet

Shareholders' equity and liabilities	30.09.2023 EUR	31.12.2022 EUR
Shareholders' equity
Share capital	591 416	591 416
Retained earnings or loss carried forward from previous years	1 175 086	1 031 686
Profit or loss of the reporting year	116 258	143 400
Shareholders' equity total	1 882 760	1 766 502
Payables
Long-term payables
Other loans	82 686	-
Long-term payables total	82 686	-
Short-term payables
Other loans	4 385	-
Prepayment received from customers	11 491	12 417
Trade payables	82 485	105 094
Taxes and social insurance payments	34 841	23 779
Other payables	16 954	22 002
Accrued liabilities	17 409	19 402
Short-term payables total	167 565	182 694
Payables total	250 251	182 694
Shareholders' equity and liabilities total	2 133 011	1 949 196

Chairman of the Management Board

22 November 2023

Nils Ivars Feodorovs Sarmīte Arcimoviča Valda Mālniece Member of the Management Board

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

6

Cash flow statement

	30.09.2023 EUR	30.09.2022 EUR
Cash flow from operating activities
Income from sale of goods and provision of services	1 200 836	1 275 255
Payments to suppliers, employees, other expenses arising
from basic operations	(1 309 795)	(1 277 919)
Gross cash flow from basic operations	(108 959)	(2 664)
Expenses for interest payments	(4 761)	-
Expenses for enterprise income tax payments	(56)	(459)
Net cash flow from operating activities	(113 776)	(3 123)
Cash flow from investing activities
Purchase of fixed assets and intangible investments	(26 199)	(78 574)
Income from dispossession of fixed assets	6 728	11 321
Net cash flow from investing activities	(19 471)	(67 253)
Cash flow from financing activities
Subsidies received as a state support	552	2 315
Expenses for the redemption of a leased fixed asset	(47 663)	-
Dividends paid	-	(33 795)
Net cash flow from financing activities	(47 111)	(31 480)
Result of foreign exchange rate fluctuations	(3 647)	(3 288)
Net increase or decrease of cash and its equivalents	(184 005)	(105 144)
Cash and its equivalents balance at the beginning of the
reporting year	302 771	358 805
Cash and its equivalents balance at the end of the reporting
year	118 766	253 661

Chairman of the Management Board

Nils Ivars Feodorovs Sarmīte Arcimoviča Valda Mālniece Member of the Management Board

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

Statement on changes in shareholders' equity

	Share capital	Retained earnings carried forward from previous years	Profit of the reporting year	Shareholders' equity total
	EUR	EUR	EUR	EUR
31.12.2021	591 416	968 685	96 796	1 656 897
Profit of 2021 transferred to retained earnings of previous years	-	96 796	(96 796)	-
Dividends distributed	-	(33 795)	-	(33 795)
Profit of the reporting year	-	-	138 253	138 253
30.09.2022	591 416	1 031 686	138 253	1 761 355
31.12.2022	591 416	1 031 686	143 400	1 766 502
Profit of 2022 transferred to retained earnings of previous years Profit of the reporting year	- -	143 400 -	(143 400) 116 258	- 116 258
30.09.2023	591 416	1 175 086	116 258	1 882 760

Chairman of the Management Board

Nils Ivars Feodorovs Sarmīte Arcimoviča Valda Mālniece Member of the Management Board

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

Report on Management Liability

Based on information at the Management Board's possession the Financial information for the nine months of the year 2023 has been prepared according to the effective requirements of legislative enactments and provide a true and fair view of the joint stock company's 'Siguldas ciltslietu un mākslīgās apsēklošanas stacija' assets, liabilities, financial condition and profit, and the management report contains true information.

Financial information is prepared in accordance with the same item recognition and assessment principles which were used in the preparation of the annual report.

Financial information for the nine months of the year 2023 has not been audited by a sworn auditor.

Nils Ivars Feodorovs Sarmīte Arcimoviča Valda Mālniece

Chairman of the Management Board

Member of the Management Board, Manager of the Production and Marketing department

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