Siguldas CMAS

Quarterly Report • May 28, 2020

Joint Stock Company 'SIGULDAS CILTSLIETU UN MĀKSLĪGĀS APSĒKLOŠANAS STACIJA'

Unaudited financial information

for the first three months

of the year 2020

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
	Oļegs Radčenko (5.20%)
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, chairman of the Supervisory Board Maija Beča, deputy chairman of the Supervisory Board Jekaterina Kreise, member of the Supervisory Board Baiba Mecauce, member of the Supervisory Board Maruta Niedrīte, member of the Supervisory Board
Reporting period	01.01.2020 – 31.03.2020
Previous reporting period	01.01.2019 – 31.03.2019
Auditors	Natālija Zaiceva Sworn Auditor Certificate No. 138
	'Orients Audit & Finance' Ltd. Gunāra Astras street 8B Riga, LV-1082, Latvia Sworn Auditors' Commercial Company's license No. 28

Profit or loss account

	31.03.2020 EUR	31.03.2019 EUR
Net sales	293 464	274 971
a) from agricultural activities	293 464	274 971
Changes in stock of ready-made goods and unfinished products	17 317	16 477
Other operating income	16 538	10 684
Costs of materials:	(138 586)	(136 176)
a) raw materials and auxiliary costs of materials	(113 258)	(111 342)
b) other external costs	(25 328)	(24 834)
Personnel costs:	(114 226)	(106 753)
a) salaries for work	(89 551)	(82 259)
b) state social insurance compulsory contributions	(20 200)	(18 861)
c) other social insurance costs	(4 475)	(5 633)
Depreciation adjustments:	(13 893)	(12 527)
a) depreciation adjustments of fixed and intangible assets	(13 886)	(12 527)
b) depreciation adjustments of current assets which the company considers to be above the normal write-off amounts	(7)	-
Other operating costs	(27 220)	(24 967)
Profit or loss before enterprise income tax	33 394	21 709
Enterprise income tax for the reporting year	-	-
Profit or loss after enterprise income tax calculation	33 394	21 709
The profit or loss for the year	33 394	21 709
Equity per 1 share (EPS)	0.079	0.051

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	31.03.2020 EUR	31.12.2019 EUR
Long-term investments
Intangible assets
Concessions, patents, licenses, trademarks and similar rights	4 526	5 014
Intangible assets total	4 526	5 014
Fixed assets (fixed assets and investment properties)
Fixed assets
Immovable properties - land parcels, buildings and constructions	157 826	162 692
Productive animals and perennial plantings	40 525	53 627
Technological equipment and machinery	3 650	4 015
Other fixed assets and inventory	31 235	35 262
Fixed assets total	233 236	255 596
Investment properties	61 000	61 000
Long-term financial investments
Other securities and investments	684	684
Long-term financial investments total	684	684
Long-term investments total	299 446	322 294
Current assets
Stock
Raw materials, basic materials and auxiliary materials	23 536	21 381
Ready-made goods and goods for sale	763 244	729 769
Prepayments for goods	15 892	117
Stock total	802 672	751 267
Receivables
Trade receivables	281 012	222 707
Other receivables	785	795
Prepaid expenses	46	11 147
Accrued income	29 242	30 057
Receivables total	311 085	264 706
Cash	195 909	251 608
Current assets total	1 309 666	1 267 581
Assets total	1 609 112	1 589 875

Balance sheet

Shareholders' equity and liabilities	31.03.2020 EUR	31.12.2019 EUR
Shareholders' equity
Share capital	591 416	591 416
Retained earnings or loss carried forward from previous years	911 086	860 743
Profit or loss of the reporting year	33 394	50 343
Shareholders' equity total	1 535 896	1 502 502
Payables
Short-term payables
Prepayment received from customers	962	738
Trade payables	14 145	18 196
Taxes and social insurance payments	29 104	37 285
Other payables	16 233	19 931
Accrued liabilities	12 772	11 223
Short-term payables total	73 216	87 373
Payables total	73 216	87 373
Shareholders' equity and liabilities total	1 609 112	1 589 875

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

	31.03.2020 EUR	31.03.2019 EUR
Cash flow from operating activities
Income from sale of goods and provision of services	312 591	278 080
Payments to suppliers, employees, other expenses arising from basic operations	(372 715)	(310 371)
Gross cash flow from basic operations	(60 124)	(32 291)
Expenses for enterprise income tax payments	-	-
Net cash flow from operating activities Cash flow from investing activities	(60 124)	(32 291)
Purchase of fixed assets and intangible investments	(890)	(3 038)
Income from dispossession of fixed assets	3 264	3 558
Net cash flow from investing activities Cash flow from financing activities	2 374	520
Subsidies received as a state support	2 623	955
Net cash flow from financing activities	2 623	955
Result of foreign exchange rate fluctuations	(572)	(224)
Net increase or decrease of cash and its equivalents	(55 699)	(31 040)
Cash and its equivalents balance at the beginning of the reporting year	251 608	295 972
Cash and its equivalents balance at the end of the reporting year	195 909	264 932

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
31.12.2018	591 416	1 213	904 144	(10 819)	1 485 954
Loss of 2018 transferred to retained earnings of previous years Profit of the reporting year	- -	- -	(10 819) -	10 819 21 709	- 21 709
31.03.2019	591 416	1 213	893 325	21 709	1 507 663
31.12.2019 Profit of 2019 transferred to retained earnings of previous years Profit of the reporting year	591 416 - -	- - -	860 743 50 343 -	50 343 (50 343) 33 394	1 502 502 - 33 394
31.03.2020	591 416	-	911 086	33 394	1 535 896

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 2020 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 2020 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