Unaudited financial report of year 2016 is enclosed

In 2016 the total net turnover of Joint-Stock Company Rigas kugu buvetava was EUR 20 653 209 EUR, including revenue form ship repair of EUR 15 416 186 and shipbuilding of EUR 5 000 120 (if compared to 2015, net turnover made up EUR 21 198 560, including shipbuilding of EUR 3 530 025 and ship repair of EUR 17 342 867).

The Company finished the reporting year with gross profit of EUR 974 297 (in 2015 - gross profit made EUR 1 564 407), in 2016 net profit amounted EUR 169 850 (2015 - net profit of EUR 222 182). In 2016 Joint-Stock Company Rigas kugu buvetava continued the investment programme, which was launched during preceding years. In 2016 investments amounted 1.7 million EUR.

         Marina Pudova
         Chief accountant
         +371 67080868
         marina@riga-shipyard.com