Siguldas CMAS

Quarterly Report • May 27, 2021

Joint Stock Company 'SIGULDAS CILTSLIETU UN MĀKSLĪGĀS APSĒKLOŠANAS STACIJA'

Unaudited financial information

for the first three months

of the year 2021

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 parish, 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 (5.20%) 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	01.01.2021 – 31.03.2021
Previous reporting period	01.01.2020 – 31.03.2020
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

	31.03.2021 EUR	31.03.2020 EUR
Net sales	316 085	293 464
a) from agricultural activities	316 085	293 464
Changes in stock of ready-made goods and unfinished products	18 035	17 317
Other operating income	11 638	16 538
Costs of materials:	(152 987)	(138 586)
a) raw materials and auxiliary costs of materials	(129 392)	(113 258)
b) other external costs	(23 595)	(25 328)
Personnel costs:	(112 378)	(114 226)
a) salaries for work	(87 842)	(89 551)
b) state social insurance compulsory contributions	(19 775)	(20 200)
c) other social insurance costs	(4 761)	(4 475)
Depreciation adjustments:	(13 790)	(13 893)
a) depreciation adjustments of fixed and intangible assets	(13 763)	(13 886)
b) depreciation adjustments of current assets which the company considers to be above the normal write-off amounts	(27)	(7)
Other operating costs	(23 108)	(27 220)
Profit or loss before enterprise income tax	43 495	33 394
Enterprise income tax for the reporting year	(3)	-
Profit or loss after enterprise income tax calculation	43 492	33 394
The profit or loss for the year	43 492	33 394
Earnings per 1 share (EPS)	0.103	0.079

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	31.03.2021 EUR	31.12.2020 EUR
Long-term investments
Intangible assets
Concessions, patents, licenses, trademarks and similar rights	2 687	3 090
Intangible assets total	2 687	3 090
Fixed assets (fixed assets and investment properties)
Fixed assets
Immovable properties - land parcels, buildings and constructions	138 366	143 231
Productive animals and perennial plantings	54 246	45 093
Technological equipment and machinery	2 190	2 555
Other fixed assets and inventory	25 672	20 604
Fixed assets total	220 474	211 483
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	291 845	283 257
Current assets
Stock
Raw materials, basic materials and auxiliary materials	25 289	21 347
Ready-made goods and goods for sale	842 553	781 719
Prepayments for goods	3 888	6 535
Stock total	871 730	809 601
Receivables
Trade receivables	289 195	234 331
Other receivables	1 964	1 239
Prepaid expenses	58	10 078
Accrued income	29 776	29 975
Receivables total	320 993	275 623
Cash	294 768	360 288
Current assets total	1 487 491	1 445 512
Assets total	1 779 336	1 728 769

Balance sheet

Shareholders' equity and liabilities	31.03.2021 EUR	31.12.2020 EUR
Shareholders' equity
Share capital	591 416	591 416
Retained earnings or loss carried forward from previous years	1 015 154	911 086
Profit or loss of the reporting year	43 492	104 068
Shareholders' equity total	1 650 062	1 606 570
Payables
Short-term payables
Prepayment received from customers	734	973
Trade payables	73 433	40 328
Taxes and social insurance payments	27 062	42 253
Other payables	15 056	22 021
Accrued liabilities	12 989	16 624
Short-term payables total	129 274	122 199
Payables total	129 274	122 199
Shareholders' equity and liabilities total	1 779 336	1 728 769

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

	31.03.2021 EUR	31.03.2020 EUR
Cash flow from operating activities
Income from sale of goods and provision of services	337 879	312 591
Payments to suppliers, employees, other expenses arising from basic operations	(378 005)	(372 715)
Gross cash flow from basic operations	(40 126)	(60 124)
Expenses for enterprise income tax payments	(61)	-
Net cash flow from operating activities	(40 187)	(60 124)
Cash flow from investing activities
Purchase of fixed assets and intangible investments	(28 436)	(890)
Income from dispossession of fixed assets	2 070	3 264
Net cash flow from investing activities Cash flow from financing activities	(26 366)	2 374
Subsidies received as a state support	1 775	2 623
Net cash flow from financing activities	1 775	2 623
Result of foreign exchange rate fluctuations	(742)	(572)
Net increase or decrease of cash and its equivalents	(65 520)	(55 699)
Cash and its equivalents balance at the beginning of the reporting year	360 288	251 608
Cash and its equivalents balance at the end of the reporting year	294 768	195 909

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	Other reserves	Retained earnings carried forward from previous years	Profit of the reporting year	Shareholders' equity total
	EUR	EUR	EUR	EUR	EUR
31.12.2019	591 416	-	860 743	50 343	1 502 502
Profit of 2019 transferred to retained earnings of previous years Profit of the reporting year	- -	- -	50 343 -	(50 343) 33 394	- 33 394
31.03.2020	591 416	-	911 086	33 394	1 535 896
31.12.2020 Profit of 2020 transferred to retained earnings of previous years Profit of the reporting year	591 416 - -	- - -	911 086 104 068 -	104 068 (104 068) 43 492	1 606 570 - 43 492
31.03.2021	591 416	-	1 015 154	43 492	1 650 062

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 first three months of the year 2021 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 2021 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