Year 2015 net turnover 9
067 905 EUR, 23% less than in year 2014. During the reporting
period net loss 551 827 EUR, 2015 book value 10 060 709 EUR -
148% more than in year 2014
"Baltic Dairy Board" factory was put
into operation on December 22, 2015, production launch on January
15, 2016. Baltic Dairy Board, Ltd main type of activity is raw milk
and other dairy side product processing. Manufactured raw materials
are then being used for end products like butter, milk protein
powder and yeast products. Main goal is to establish own drying
facility by 2018 with capability to dry own liquids and offer
drying services to other dairy companies.
In annual report Net turnover was
9 067 905 EUR, which is 23% less
than it was in 2014. This drop was according to price drop for all
dairy products and downfall in dairy industry
itself.
The book value of year 2015 is
10 060 709 EUR which is 148%
more than 2014. This big increase in book value is because we have
invested our and attracted funds in to factories equipment and
construction process.
In annual
report Net loses are 551 827 EUR. Mentioned market situation in dairy industry and
companies investments in designing, processing plant
reconstruction, processing equipment purchases, recruitment of new
staff and providing special training and factory tests before main
production was started. Taking in to consideration mentioned loses
are reasonable and understandable.
|
Notes
|
2015 |
2014 |
|
|
EUR |
EUR |
Net
sales |
(1) |
9 067
905 |
11 849
005 |
Cost of
sales |
(2) |
(8 433
005) |
(10 697
393) |
Gross
profit |
|
634
900 |
1 151
612 |
Distribution
expenses |
(3) |
(590
995) |
(331
428) |
Administrative
expenses |
(4) |
(484
639) |
(248
369) |
Other
income |
(5) |
63
410 |
72
363 |
Other
expenses |
(6) |
(166
622) |
(135 090) |
Finance
expenses |
(8) |
(87
876) |
(45
491) |
Profit (loss)
before tax |
|
(631
822) |
463
597 |
Corporate income
tax |
(9) |
79
995 |
(75
863) |
Net
profit |
|
(551
827) |
387
734 |
ASSETS |
|
31.12.2015. |
31.12.2014. |
Non-current
assets |
|
EUR |
EUR |
Intangible
assets |
(10) |
178 |
0 |
Property, plant and
equipment |
(11) |
9 031
798 |
2 536
030 |
Investment
property |
(12) |
0 |
106
335 |
Deferred tax
assets |
(9) |
69
965 |
0 |
Total
non-current assets: |
(10) |
9 101
941 |
2 642
365 |
Current
assets |
|
|
|
Inventories |
(13) |
7
164 |
65
422 |
Trade
receivables |
(14) |
362
365 |
356
081 |
Corporate income tax
receivable |
|
132
132 |
48
788 |
Other current
assets |
(15) |
355
753 |
332
515 |
Cash and cash
equivalents |
(16) |
101
354 |
617
322 |
Total current
assets: |
|
958
768 |
1 420
128 |
Total
assets |
|
10
060 709 |
4
062 493 |
|
|
|
|
EQUITY AND
LIABILITIES |
|
|
|
Equity |
|
|
|
Share
capital |
(17) |
777
778 |
2 845 |
Share issue
premium |
|
421
557 |
|
Retained
earnings |
|
|
|
previous year's
retained earnings |
|
678
521 |
290
787 |
current years profit
or losses |
|
(551
827) |
387
734 |
Total
equity: |
|
1
326 029 |
681 366 |
Liabilities |
|
|
|
Non-current
liabilities |
|
|
|
Debenture
loans |
(18) |
950
000 |
950
000 |
Deferred
revenue |
(19) |
1 154
049 |
608
539 |
Loans from credit
institutions |
(21) |
3 351
733 |
0 |
Other
borrowings |
(21) |
500
665 |
0 |
Finance lease
liabilities |
(20) |
69
592 |
37
489 |
Deferred income tax
liabilities |
(9) |
0 |
10 030 |
Total
non-current liabilities: |
|
6
026 039 |
1
606 058 |
Current
liabilities |
|
|
|
Deferred
revenue |
(19) |
107 855 |
0 |
Finance lease
liabilities |
(20) |
28
310 |
16
474 |
Loans from credit
institutions |
(21) |
712
850 |
0 |
Trade
payables |
(22) |
1 559
346 |
1 653
926 |
Other
liabilities |
(23) |
300
280 |
104 669 |
Total current
liabilities: |
|
2
708 641 |
1
775 069 |
Total
liabilities: |
|
8
734 680 |
3
381 127 |
Total
equity and liabilities: |
|
10
060 709 |
4
062 493
|
Family owned company founded in 2008. From year 2008 until 2015
main business connected with raw milk logistics and other dairy
product purchase and distribution. In 2015 company opened new added
value product factory located in Bauska, Latvia. Factory is one of
the larges Milk protein and Whey protein manufacturer in northern
Europe with approx. 8 000MT of protein powder produced every
year.
Additional
information:
Ilona
Kazaka
Member of the
Board
Phone +371
28344991
e-mail:
ilona@bdb.lv
|