Siguldas CMAS

Earnings Release • May 26, 2022

Siguldas CMAS JSC Unaudited financial information for the first three months of the year 2022

In the first three months of 2022 net turnover was 364.6 thousand euros, showing an increase of 15.3% against the corresponding period in 2021, whereas profit before taxes was 87.6 thousand euros – by 44.1 thousand euros higher compared to the corresponding period in 2021.

At present, the restrictions that have entered into force in connection with the war in Ukraine have not affected the Company's operations, nor is there a decrease in cash flow. The management of the Company believes that the introduced restrictions will not significantly affect the Company's operations.

Profit or Loss Account

	31.03.2022 EUR	31.03.2021 EUR
Net sales	364 568	316 085
a) from agricultural activities	364 568	316 085
Changes in stock of ready-made goods and unfinished products	40 443	18 035
Other operating income	16 187	11 638
Costs of materials:	(185 044)	(152 987)
a) raw materials and auxiliary costs of materials	(160 809)	(129 392)
b) other external costs	(24 235)	(23 595)
Personnel costs:	(115 863)	(112 378)
a) salaries for work	(90 256)	(87 842)
b) state social insurance compulsory contributions	(20 987)	(19 775)
c) other social insurance costs	(4 620)	(4 761)
Depreciation adjustments:	(12 308)	(13 790)
a) depreciation adjustments of fixed and intangible assets	(12 308)	(13 763)
b) depreciation adjustments of current assets which the company considers to be above the normal write-off amounts	-	(27)
Other operating costs	(20 388)	(23 108)
Profit or loss before enterprise income tax	87 595	43 495
Enterprise income tax for the reporting year	(18)	(3)
Profit or loss after enterprise income tax calculation	87 577	43 492
The profit or loss for the year	87 577	43 492
Earnings per 1 share (EPS)	0.207	0.103

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