Siguldas CMAS

Annual Report • Mar 23, 2020

Siguldas CMAS JSC Audited Annual Report for 2019

The Company’s net turnover in 2019 was 1.2 million euros, which is by 62 thousand euros or 5.5% bigger than in 2018.

The proportion of the revenue from the Company’s basic economic activities, if compared to year 2018, had not changed substantially − the revenue from the sales of the bull semen comprised 54.8% of the net turnover, whereas the milk laboratory services and processing of supervisory data services, taken together, accounted for 36.0% of the net turnover.

2019 ended with a profit of 50 thousand euros. Compared to 2018, profit before taxes for the reporting year has increased by 61 thousand euros, mainly due to the increase in net turnover.

The outbreak of COVID-19 will not have a substantial impact on the Company's operations, financial situation and economic performance.

PROFIT OR LOSS ACCOUNT

	2019 EUR	2018 EUR
Net sales:	1 188 527	1 126 778
a) from agricultural activities	1 188 527	1 126 778
Changes in stock or ready-made goods and unfinished products	10 219	17 874
Other operating income	36 036	22 992
Costs of materials:	(531 271)	(511 496)
a) raw materials and auxiliary costs of materials	(424 415)	(408 943)
b) other external costs	(106 856)	(102 553)
Personnel costs:	(465 076)	(487 067)
a) salaries for work	(366 701)	(385 412)
b) state social insurance compulsory contributions	(86 480)	(91 481)
c) other social insurance costs	(11 895)	(10 174)
Depreciation adjustments:	(101 982)	(85 987)
a) depreciation adjustments of fixed and intangible assets	(51 252)	(52 784)
b) depreciation adjustments of current assets which the company considers to be above the normal write-off amounts	(50 730)	(33 203)
Other operating costs	(86 110)	(93 913)
Profit or loss before enterprise income tax	50 343	(10 819)
Enterprise income tax for the reporting year	-	-
Profit or loss after enterprise income tax calculation	50 343	(10 819)
The profit or loss for the year	50 343	(10 819)
Equity per 1 share (EPS)	0.119	(0.026)

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