Siguldas CMAS

Earnings Release • Aug 13, 2015

Siguldas CMAS JSC Unaudited Interim Report for Six Months of 2015

The basic economic activity of the Joint Stock Company invariably is the production and sale of bull semen, comprising 50.6% of its net turnover in the accounting period, as well as the milk testing and data processing services, which collectively comprise 36.7% of the Company's net turnover.  The proportion of the Company's basic activities, if compared with the one in the first half-year of 2014, do not show any significant changes.

Company's net turnover in the first half-year of 2015 was 544.4 thousand EUR, showing a decrease of 0.9% against the corresponding period in 2014, while Company's profit of 60.4 thousand EUR of the first half-year of 2015 shows a decrease of 28.6% against the corresponding period in 2014.

The commercial profitability in the first half-year of 2015 was 13.3%, compared to 17.1% in 2014.

Profit or Loss Account for the Period Ended on 30 June 2015

	2015 EUR	2014 EUR
Net sales	544 367	549 248
Changes in stock of ready-made goods and unfinished products	25 381	43 914
Other operating income	5 476	4 300
Costs of materials:	(233 175)	(230 128)
a) raw materials and auxiliary costs of materials	(177 599)	(174 025)
b) other external costs	(55 576)	(56 103)
Personnel costs:	(223 067)	(226 190)
a) salaries for work	(175 300)	(177 030)
b) state social insurance compulsory contributions	(38 940)	(39 969)
c) other social insurance costs	(8 827)	(9 191)
Write-off of assets and values:	(22 936)	(22 479)
a) depreciation of fixed assets and amortization of intangible assets	(22 936)	(22 479)
Other operating costs	(24 119)	(24 388)
Other interest income and similar income	2 980	2 422
Interest payments and similar costs	(2 260)	(2 515)
Profit or loss before taxes	72 647	94 184
Enterprise income tax in the reporting year	(10 358)	(7 872)
Other taxes	(1 854)	(1 635)
The profit or loss of the year	60 435	84 677
Equity per 1 share (EPS)	0.143	0.200

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 the 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