Siguldas CMAS

Earnings Release • Mar 21, 2022

Siguldas CMAS JSC Audited Annual Report for 2021

The Company’s net turnover in 2021 was 1.4 million euros, which is by 153 thousand euros or 12.3% bigger than in 2020.

The proportion of the revenue from the Company’s basic economic activities, if compared to year 2020, had not changed substantially − the revenue from the sales of the bull semen comprised 58.8% of the net turnover, whereas the milk laboratory services and processing of supervisory data services, taken together, accounted for 31.3% of the net turnover.

2021 ended with a profit of 97 thousand euros. Compared to 2020, profit before taxes for the reporting year has decreased by 7 thousand euros, mainly due to the increase in costs of materials.

The Covid-19 outbreak did not substantially affect the Company's business, financial condition and economic indicators.

PROFIT OR LOSS ACCOUNT

	2021 EUR	2020 EUR
Net sales:	1 389 544	1 236 904
a) from agricultural activities	1 389 544	1 236 904
Changes in stock or ready-made goods and unfinished products	(4 348)	30 132
Other operating income	61 177	63 112
Costs of materials:	(672 269)	(554 663)
a) raw materials and auxiliary costs of materials	(557 973)	(448 270)
b) other external costs	(114 296)	(106 393)
Personnel costs:	(493 561)	(478 648)
a) salaries for work	(393 590)	(380 057)
b) state social insurance compulsory contributions	(88 900)	(87 204)
c) other social insurance costs	(11 071)	(11 387)
Depreciation adjustments:	(106 749)	(114 354)
a) depreciation adjustments of fixed and intangible assets	(57 495)	(57 826)
b) depreciation adjustments of current assets which the company considers to be above the normal write-off amounts	(49 254)	(56 528)
Other operating costs	(73 148)	(75 665)
Profit or loss before enterprise income tax	100 646	106 818
Enterprise income tax for the reporting year	3 850	2 750
Profit or loss after enterprise income tax calculation	96 796	104 068
The profit or loss for the year	96 796	104 068
Earnings per 1 share (EPS)	0.229	0.246

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