Siguldas CMAS

Quarterly Report • Nov 25, 2021

Joint Stock Company 'SIGULDAS CILTSLIETU UN MĀKSLĪGĀS APSĒKLOŠANAS STACIJA'

Unaudited financial information

for the nine 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, Sigulda municipality, LV-2150, Latvia
Shareholders holding more than 5% of the total number of voting shares	'Siguldas mākslīgās apsēklošanas stacija' Ltd. (49.92%), registration No. 40003311954
	SCI AG (5.95%) 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 – 30.09.2021
Previous reporting period	01.01.2020 – 30.09.2020
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

	30.09.2021 EUR	30.09.2020 EUR
Net sales	1 027 516	908 799
a) from agricultural activities	1 027 516	908 799
Changes in stock of ready-made goods and unfinished products	23 925	19 144
Other operating income	30 584	49 105
Costs of materials:	(489 717)	(396 600)
a) raw materials and auxiliary costs of materials	(410 324)	(322 881)
b) other external costs	(79 393)	(73 719)
Personnel costs:	(358 978)	(356 139)
a) salaries for work	(284 675)	(281 114)
b) state social insurance compulsory contributions	(63 453)	(63 791)
c) other social insurance costs	(10 850)	(11 234)
Depreciation adjustments:	(44 238)	(43 727)
a) depreciation adjustments of fixed and intangible assets	(44 192)	(43 720)
b) depreciation adjustments of current assets which the company considers to be above the normal write-off amounts	(46)	(7)
Other operating costs	(49 787)	(52 370)
Profit or loss before enterprise income tax	139 305	128 212
Enterprise income tax for the reporting year	(3)	-
Profit or loss after enterprise income tax calculation	139 302	128 212
The profit or loss for the year	139 302	128 212
Earnings per 1 share (EPS)	0.330	0.304

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	30.09.2021 EUR	31.12.2020 EUR
Long-term investments
Intangible assets
Concessions, patents, licenses, trademarks and similar rights	1 881	3 090
Intangible assets total	1 881	3 090
Fixed assets (fixed assets and investment properties)
Fixed assets
Immovable properties - land parcels, buildings and constructions	128 636	143 231
Productive animals and perennial plantings	40 074	45 093
Technological equipment and machinery	1 460	2 555
Other fixed assets and inventory	39 041	20 604
Fixed assets total	209 211	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	279 776	283 257
Current assets
Stock
Raw materials, basic materials and auxiliary materials	18 221	21 347
Ready-made goods and goods for sale	884 208	781 719
Prepayments for goods	2 539	6 535
Stock total	904 968	809 601
Receivables
Trade receivables	380 377	234 331
Other receivables	6 255	1 239
Prepaid expenses	5 309	10 078
Accrued income	27 854	29 975
Receivables total	419 795	275 623
Cash	240 409	360 288
Current assets total	1 565 172	1 445 512
Assets total	1 844 948	1 728 769

Balance sheet

Shareholders' equity and liabilities	30.09.2021 EUR	31.12.2020 EUR
Shareholders' equity
Share capital	591 416	591 416
Retained earnings or loss carried forward from previous years	968 685	911 086
Profit or loss of the reporting year	139 302	104 068
Shareholders' equity total	1 699 403	1 606 570
Payables
Short-term payables
Prepayment received from customers	18 564	973
Trade payables	57 561	40 328
Taxes and social insurance payments	39 827	42 253
Other payables	16 329	22 021
Accrued liabilities	13 264	16 624
Short-term payables total	145 545	122 199
Payables total	145 545	122 199
Shareholders' equity and liabilities total	1 844 948	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

	30.09.2021 EUR	30.09.2020 EUR
Cash flow from operating activities
Income from sale of goods and provision of services	1 142 569	1 001 312
Payments to suppliers, employees, other expenses arising from basic operations	(1 171 418)	(992 198)
Gross cash flow from basic operations	(28 849)	9 114
Expenses for enterprise income tax payments	(3)	-
Net cash flow from operating activities	(28 852)	9 114
Cash flow from investing activities
Purchase of fixed assets and intangible investments	(52 812)	(38 677)
Income from dispossession of fixed assets	5 266	6 264
Net cash flow from investing activities	(47 546)	(32 413)
Cash flow from financing activities
Subsidies received as a state support	5 521	5 910
Dividends paid	(46 469)	-
Net cash flow from financing activities	(40 948)	5 910
Result of foreign exchange rate fluctuations	(2 533)	(1 473)
Net increase or decrease of cash and its equivalents	(119 879)	(18 862)
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	240 409	232 746

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	Retained earnings carried forward from previous years	Profit of the reporting year	Shareholders' equity total
	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	-	50 343	(50 343)	-
Profit of the reporting year	-	-	128 212	128 212
30.09.2020	591 416	911 086	128 212	1 630 714
31.12.2020	591 416	911 086	104 068	1 606 570
Profit of 2020 transferred to retained
earnings of previous years	-	104 068	(104 068)	-
Dividends for 2020	-	(46 469)	-	(46 469)
Profit of the reporting year	-	-	139 302	139 302
30.09.2021	591 416	968 685	139 302	1 699 403

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 nine 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 nine 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