Joint Stock Company
‘SIGULDAS CILTSLIETU UN
MĀKSLĪGĀS APSĒKLOŠANAS
STACIJA’
Unaudited financial information
for the nine months
of the year 2022
JSC ‘SIGULDAS CILTSLIETU UN MĀKSLĪGĀS APSĒKLOŠANAS STACIJA’
Financial information for the nine months of the year 2022
Index of Contents
2
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
JSC ‘SIGULDAS CILTSLIETU UN MĀKSLĪGĀS APSĒKLOŠANAS STACIJA’
Financial information for the nine months of the year 2022
Information on the Company
3
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 till 22.04.2022
Reporting period
01.01.2022 – 30.09.2022
Previous reporting period
01.01.2021 – 30.09.2021
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
JSC ‘SIGULDAS CILTSLIETU UN MĀKSLĪGĀS APSĒKLOŠANAS STACIJA’
Financial information for the nine months of the year 2022
Profit or loss account
4
30.09.2022
EUR
30.09.2021
EUR
Net sales
1 125 289
1 027 516
a) from agricultural activities
1 125 289
1 027 516
Changes in stock of ready-made goods and unfinished products
38 065
23 925
Other operating income
41 009
30 584
Costs of materials:
(577 541)
(489 717)
a) raw materials and auxiliary costs of materials
(481 665)
(410 324)
b) other external costs
(95 876)
(79 393)
Personnel costs:
(397 757)
(358 978)
a) salaries for work
(313 735)
(284 675)
b) state social insurance compulsory contributions
(73 176)
(63 453)
c) other social insurance costs
(10 846)
(10 850)
Depreciation adjustments:
(33 752)
(44 238)
a) depreciation adjustments of fixed and intangible assets
(33 747)
(44 192)
b) depreciation adjustments of current assets which the
company considers to be above the normal write-off amounts
(5)
(46)
Other operating costs
(56 926)
(49 787)
Profit or loss before enterprise income tax
138 387
139 305
Enterprise income tax for the reporting year
(134)
(3)
Profit or loss after enterprise income tax calculation
138 253
139 302
The profit or loss for the year
138 253
139 302
Earnings per 1 share (EPS)
0.327
0.330
Nils Ivars Feodorovs
Sarmīte Arcimoviča
Valda Mālniece
Chairman of the Management
Board
Member of the Management
Board
Member of the Management
Board, Manager of the
Financial and Accounting
department
23 November 2022
JSC ‘SIGULDAS CILTSLIETU UN MĀKSLĪGĀS APSĒKLOŠANAS STACIJA’
Financial information for the nine months of the year 2022
Balance sheet
5
Assets
30.09.2022
EUR
31.12.2021
EUR
Long-term investments
Intangible assets
Concessions, patents, licenses, trademarks and similar
rights
269
1 478
Intangible assets total
269
1 478
Fixed assets (fixed assets and investment properties)
Fixed assets
Immovable properties - land parcels, buildings and
constructions
112 644
123 771
Productive animals
50 752
33 586
Technological equipment and machinery
2 644
1 095
Other fixed assets and inventory
63 118
34 969
Prepayments for fixed assets
-
3 200
Fixed assets total
229 158
196 621
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
298 111
266 783
Current assets
Stock
Raw materials, basic materials and auxiliary materials
21 605
24 211
Ready-made goods and goods for sale
985 574
856 983
Stock total
1 007 179
881 194
Receivables
Trade receivables
380 778
259 828
Other receivables
10 840
5 659
Prepaid expenses
5 032
8 895
Accrued income
31 254
29 951
Receivables total
427 904
304 333
Cash
253 661
358 805
Current assets total
1 688 744
1 544 332
Assets total
1 986 855
1 811 115
JSC ‘SIGULDAS CILTSLIETU UN MĀKSLĪGĀS APSĒKLOŠANAS STACIJA’
Financial information for the nine months of the year 2022
Balance sheet
6
Shareholders’ equity and liabilities
30.09.2022
EUR
31.12.2021
EUR
Shareholders’ equity
Share capital
591 416
591 416
Retained earnings or loss carried forward from previous years
1 031 686
968 685
Profit or loss of the reporting year
138 253
96 796
Shareholders’ equity total
1 761 355
1 656 897
Payables
Short-term payables
Prepayment received from customers
18 614
25 003
Trade payables
134 782
50 334
Taxes and social insurance payments
39 629
42 469
Other payables
18 039
19 815
Accrued liabilities
14 436
16 597
Short-term payables total
225 500
154 218
Payables total
225 500
154 218
Shareholders’ equity and liabilities total
1 986 855
1 811 115
Nils Ivars Feodorovs
Sarmīte Arcimoviča
Valda Mālniece
Chairman of the Management
Board
Member of the Management
Board
Member of the Management
Board, Manager of the
Financial and Accounting
department
23 November 2022
JSC ‘SIGULDAS CILTSLIETU UN MĀKSLĪGĀS APSĒKLOŠANAS STACIJA’
Financial information for the nine months of the year 2022
Cash flow statement
7
30.09.2022
EUR
30.09.2021
EUR
Cash flow from operating activities
Income from sale of goods and provision of services
1 275 255
1 142 569
Payments to suppliers, employees, other expenses arising
from basic operations
(1 277 919)
(1 171 418)
Gross cash flow from basic operations
(2 664)
(28 849)
Expenses for enterprise income tax payments
(459)
(3)
Net cash flow from operating activities
(3 123)
(28 852)
Cash flow from investing activities
Purchase of fixed assets and intangible investments
(78 574)
(52 812)
Income from dispossession of fixed assets
11 321
5 266
Net cash flow from investing activities
(67 253)
(47 546)
Cash flow from financing activities
Subsidies received as a state support
2 315
5 521
Dividends paid
(33 795)
(46 469)
Net cash flow from financing activities
(31 480)
(40 948)
Result of foreign exchange rate fluctuations
(3 288)
(2 533)
Net increase or decrease of cash and its equivalents
(105 144)
(119 879)
Cash and its equivalents balance at the beginning of the
reporting year
358 805
360 288
Cash and its equivalents balance at the end of the reporting
year
253 661
240 409
Nils Ivars Feodorovs
Sarmīte Arcimoviča
Valda Mālniece
Chairman of the Management
Board
Member of the Management
Board
Member of the Management
Board, Manager of the
Financial and Accounting
department
23 November 2022
JSC ‘SIGULDAS CILTSLIETU UN MĀKSLĪGĀS APSĒKLOŠANAS STACIJA’
Financial information for the nine months of the year 2022
Statement on changes in shareholders’ equity
8
Share
capital
Retained
earnings
carried forward
from previous
years
Profit of the
reporting year
Shareholders’
equity total
EUR
EUR
EUR
EUR
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 distributed
-
(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
31.12.2021
591 416
968 685
96 796
1 656 897
Profit of 2021 transferred to retained
earnings of previous years
-
96 796
(96 796)
-
Dividends distributed
-
(33 795)
-
(33 795)
Profit of the reporting year
-
-
138 253
138 253
30.09.2022
591 416
1 031 686
138 253
1 761 355
Nils Ivars Feodorovs
Sarmīte Arcimoviča
Valda Mālniece
Chairman of the Management
Board
Member of the Management
Board
Member of the Management
Board, Manager of the
Financial and Accounting
department
23 November 2022
JSC ‘SIGULDAS CILTSLIETU UN MĀKSLĪGĀS APSĒKLOŠANAS STACIJA’
Financial information for the nine months of the year 2022
Report on Management Liability
9
Based on information at the Management Board’s possession the financial information for the nine months of the year
2022 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 2022 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
23 November 2022