Siguldas CMAS

Quarterly Report • Nov 24, 2016

Siguldas CMAS JSC Unaudited Interim Report for Nine Months of 2016

The proportion of the Company's basic activities, if compared to the first nine months of 2015, does not show any significant changes − the production and sale of bull semen comprised 52.0 % of its net turnover in the accounting period, while the milk testing and data processing services collectively comprised 36.5 % of the Company's net turnover. 

Company's net turnover in the first nine months of 2016 was 815.0 thousand euros, showing a decrease of 3.3 % against the corresponding period in 2015, whereas Company's profit before taxes was 82.0 thousand euros – by 33.9 % or 42.0 thousand euros lower compared to the corresponding period in 2015.

The commercial profitability in the first nine months of 2016 was 10.1 %, compared to 14.7 % in the corresponding period in 2015.

Profit or Loss Account for the Period Ended on 30 September 2016

	2016 EUR	2015 EUR
Net sales	815 026	842 942
Changes in stock of ready-made goods and unfinished products	12 986	24 778
Other operating income	7 410	8 057
Costs of materials:	(350 401)	(339 360)
a) raw materials and auxiliary costs of materials	(265 016)	(254 511)
b) other external costs	(85 385)	(84 849)
Personnel costs:	(340 307)	(344 625)
a) salaries for work	(270 403)	(274 081)
b) state social insurance compulsory contributions	(60 845)	(61 717)
c) other social insurance costs	(9 059)	(8 827)
Write-off of assets and values:	(34 220)	(34 686)
a) depreciation of fixed assets and amortization of intangible assets	(34 140)	(34 686)
b) write-off of value of current assets above the normal deductions	(80)	-
Other operating costs	(32 710)	(30 803)
Other interest income and similar income	11 668	4 306
Interest payments and similar costs	(7 441)	(6 588)
Profit or losses before taxes	82 011	124 021
Enterprise income tax for the reporting year	(15 885)	(18 287)
Other taxes	(1 845)	(1 854)
The profit or loss for the year	64 281	103 880
Equity per 1 share (EPS)	0,152	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