Siguldas CMAS

Quarterly Report • May 26, 2022

Joint Stock Company 'SIGULDAS CILTSLIETU UN MĀKSLĪGĀS APSĒKLOŠANAS STACIJA'

Unaudited financial information

for the first three months

of the year 2022

Index of Contents

	Page
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

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 (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
Reporting period	01.01.2022 – 31.03.2022
Previous reporting period	01.01.2021 – 31.03.2021
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

	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

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	31.03.2022 EUR	31.12.2021 EUR
Long-term investments
Intangible assets
Concessions, patents, licenses, trademarks and similar rights	1 075	1 478
Intangible assets total	1 075	1 478
Fixed assets (fixed assets and investment properties)
Fixed assets
Immovable properties - land parcels, buildings and constructions	118 906	123 771
Productive animals and perennial plantings	33 498	33 586
Technological equipment and machinery	730	1 095
Other fixed assets and inventory	32 471	34 969
Prepayments for fixed assets	-	3 200
Fixed assets total	185 605	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	255 364	266 783
Current assets Stock
Raw materials, basic materials and auxiliary materials	19 444	24 211
Ready-made goods and goods for sale	926 933	856 983
Prepayments for goods	4 150	-
Stock total	950 527	881 194
Receivables
Trade receivables	292 961	259 828
Other receivables	4 743	5 659
Prepaid expenses	49	8 895
Accrued income	32 089	29 951
Receivables total	329 842	304 333
Cash	383 024	358 805
Current assets total	1 663 393	1 544 332
Assets total	1 918 757	1 811 115

Balance sheet

Shareholders' equity and liabilities	31.03.2022 EUR	31.12.2021 EUR
Shareholders' equity
Share capital	591 416	591 416
Retained earnings or loss carried forward from previous years	1 065 481	968 685
Profit or loss of the reporting year	87 577	96 796
Shareholders' equity total	1 744 474	1 656 897
Payables
Short-term payables
Prepayment received from customers	18 378	25 003
Trade payables	83 711	50 334
Taxes and social insurance payments	37 038	42 469
Other payables	19 146	19 815
Accrued liabilities	16 010	16 597
Short-term payables total	174 283	154 218
Payables total	174 283	154 218
Shareholders' equity and liabilities total	1 918 757	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

	31.03.2022 EUR	31.03.2021 EUR
Cash flow from operating activities
Income from sale of goods and provision of services	414 971	337 879
Payments to suppliers, employees, other expenses arising from basic operations	(388 787)	(378 005)
Gross cash flow from basic operations	26 184	(40 126)
Expenses for enterprise income tax payments	(408)	(61)
Net cash flow from operating activities	25 776	(40 187)
Cash flow from investing activities
Purchase of fixed assets and intangible investments	(889)	(28 436)
Income from dispossession of fixed assets	-	2 070
Net cash flow from investing activities	(889)	(26 366)
Cash flow from financing activities
Subsidies received as a state support	1	1 775
Net cash flow from financing activities	1	1 775
Result of foreign exchange rate fluctuations	(669)	(742)
Net increase or decrease of cash and its equivalents	24 219	(65 520)
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	383 024	294 768

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
31.12.2020	591 416	911 086	104 068	1 606 570
Profit of 2020 transferred to retained earnings of previous years Profit of the reporting year	- -	104 068 -	(104 068) 43 492	- 43 492
31.03.2021	591 416	1 015 154	43 492	1 650 062
31.12.2021	591 416	968 685	96 796	1 656 897
Profit of 2021 transferred to retained earnings of previous years Profit of the reporting year	- -	96 796 -	(96 796) 87 577	- 87 577
31.03.2022	591 416	1 065 481	87 577	1 744 474

Chairman of the Management Board

25 May 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 first three 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 first three 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