Siguldas CMAS

Interim / Quarterly Report • Nov 24, 2022

Joint Stock Company 'SIGULDAS CILTSLIETU UN MĀKSLĪGĀS APSĒKLOŠANAS STACIJA'

Unaudited financial information

for the nine months

of the year 2022

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, Latvia
Shareholders holding more than 5% of the total number of voting shares	'Siguldas mākslīgās apsēklošanas stacija' Ltd. (49.92%), registration No. 40003311954
	SCI AG (5.95%) 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 Maija Beča, deputy chairwoman of the Supervisory Board Baiba Mecauce, member of the Supervisory Board Guntis Mecaucis, member of the Supervisory Board Jānis Tūtāns, member of the Supervisory Board till 22.04.2022
Reporting period	01.01.2022 – 30.09.2022
Previous reporting period	01.01.2021 – 30.09.2021
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

	30.09.2022 EUR	30.09.2021 EUR
Net sales	1 125 289	1 027 516
a) from agricultural activities	1 125 289	1 027 516
Changes in stock of ready-made goods and unfinished products	38 065	23 925
Other operating income	41 009	30 584
Costs of materials:	(577 541)	(489 717)
a) raw materials and auxiliary costs of materials	(481 665)	(410 324)
b) other external costs	(95 876)	(79 393)
Personnel costs:	(397 757)	(358 978)
a) salaries for work	(313 735)	(284 675)
b) state social insurance compulsory contributions	(73 176)	(63 453)
c) other social insurance costs	(10 846)	(10 850)
Depreciation adjustments:	(33 752)	(44 238)
a) depreciation adjustments of fixed and intangible assets	(33 747)	(44 192)
b) depreciation adjustments of current assets which the company considers to be above the normal write-off amounts	(5)	(46)
Other operating costs	(56 926)	(49 787)
Profit or loss before enterprise income tax	138 387	139 305
Enterprise income tax for the reporting year	(134)	(3)
Profit or loss after enterprise income tax calculation	138 253	139 302
The profit or loss for the year	138 253	139 302
Earnings per 1 share (EPS)	0.327	0.330

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	30.09.2022 EUR	31.12.2021 EUR
Long-term investments
Intangible assets
Concessions, patents, licenses, trademarks and similar rights	269	1 478
Intangible assets total	269	1 478
Fixed assets (fixed assets and investment properties)
Fixed assets
Immovable properties - land parcels, buildings and constructions	112 644	123 771
Productive animals	50 752	33 586
Technological equipment and machinery	2 644	1 095
Other fixed assets and inventory	63 118	34 969
Prepayments for fixed assets	-	3 200
Fixed assets total	229 158	196 621
Investment properties	68 000	68 000
Long-term financial investments
Other securities and investments	684	684
Long-term financial investments total	684	684
Long-term investments total	298 111	266 783
Current assets
Stock
Raw materials, basic materials and auxiliary materials	21 605	24 211
Ready-made goods and goods for sale	985 574	856 983
Stock total	1 007 179	881 194
Receivables
Trade receivables	380 778	259 828
Other receivables	10 840	5 659
Prepaid expenses	5 032	8 895
Accrued income	31 254	29 951
Receivables total	427 904	304 333
Cash	253 661	358 805
Current assets total	1 688 744	1 544 332
Assets total	1 986 855	1 811 115

Balance sheet

Shareholders' equity and liabilities	30.09.2022 EUR	31.12.2021 EUR
Shareholders' equity
Share capital	591 416	591 416
Retained earnings or loss carried forward from previous years	1 031 686	968 685
Profit or loss of the reporting year	138 253	96 796
Shareholders' equity total	1 761 355	1 656 897
Payables
Short-term payables
Prepayment received from customers	18 614	25 003
Trade payables	134 782	50 334
Taxes and social insurance payments	39 629	42 469
Other payables	18 039	19 815
Accrued liabilities	14 436	16 597
Short-term payables total	225 500	154 218
Payables total	225 500	154 218
Shareholders' equity and liabilities total	1 986 855	1 811 115

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

Cash flow statement

	30.09.2022 EUR	30.09.2021 EUR
Cash flow from operating activities
Income from sale of goods and provision of services	1 275 255	1 142 569
Payments to suppliers, employees, other expenses arising from basic operations	(1 277 919)	(1 171 418)
Gross cash flow from basic operations	(2 664)	(28 849)
Expenses for enterprise income tax payments	(459)	(3)
Net cash flow from operating activities	(3 123)	(28 852)
Cash flow from investing activities
Purchase of fixed assets and intangible investments	(78 574)	(52 812)
Income from dispossession of fixed assets	11 321	5 266
Net cash flow from investing activities	(67 253)	(47 546)
Cash flow from financing activities
Subsidies received as a state support	2 315	5 521
Dividends paid	(33 795)	(46 469)
Net cash flow from financing activities	(31 480)	(40 948)
Result of foreign exchange rate fluctuations	(3 288)	(2 533)
Net increase or decrease of cash and its equivalents	(105 144)	(119 879)
Cash and its equivalents balance at the beginning of the
reporting year	358 805	360 288
Cash and its equivalents balance at the end of the reporting year	253 661	240 409

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	Profit of the reporting year	Shareholders' equity total
	EUR	years EUR	EUR	EUR
31.12.2020	591 416	911 086	104 068	1 606 570
Profit of 2020 transferred to retained earnings of previous years	-	104 068	(104 068)	-
Dividends distributed	-	(46 469)	-	(46 469)
Profit of the reporting year	-	-	139 302	139 302
30.09.2021	591 416	968 685	139 302	1 699 403
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

Chairman of the Management Board

23 November 2022

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 2022 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 2022 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