Daugavpils lokomotivju remonta rupnica
JSC ‘Daugavpils Lokomotīvju Remonta Rūpnīca’ audited consolidated annual report for the year 2014.

DGAP-News: Daugavpils lokomotivju remonta rupnica

2015-04-29 / 09:50

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Daugavpils, 2015-04-29 09:50 CEST (GLOBE NEWSWIRE) -- 

Type of operations                                                              
                                                                                
Basic activity of AS 'DAUGAVPILS LOKOMOTĪVJU REMONTA RŪPNĪCA' and its           
 subsidiaries (further - the Group)  is railway rolling stock overhaul repair,  
 maintenance and upgrade, manufacturing and repair of its spare parts. The Group
 provides repair services of all types of railway rolling stock - diesel and    
 electric locomotives and electric trains.                                      
                                                                                
Performance of the Group during the financial year                              
                                                                                
In 2014 the Group's consolidated net sales amounted to 20,1 million EUR         
 (decrease of 21% in respect of net sales of 2013).                             
The Group finished the year with losses of 1,2 million EUR. In 2014 the Group   
 exported its products to 8 countries, the total export volume amounted to 18   
 million EUR (in 2013 - 23,2  million EUR), while net sales in Latvia amounted  
 to 2,1 million EUR (in 2013 - 2,4 million EUR). The main directions of export  
 in 2014 were EU countries: Lithuania and Estonia, and third countries: Russia, 
 Belarus and Uzbekistan.                                                        
During the reporting year, the Group was provided with the repair works only in 
 Q1 and Q3 due to the devaluation of the Russian ruble and the crisis in        
 Ukraine. In 2014 almost all of the equipment within the framework of ERAF      
 project was purchased and brought into operation. The final implementation of  
 the project carried out on March 2, 2015.                                      
Future prospects                                                                
                                                                                
In 2015 the Group's priority is expanding of customer base and developing of new
 products, including machinery industry. The Group has a material base for these
 activities, including the equipment purchased in cooperation with ERDF funds.  
 To increase the economic efficiency the Company has carried out reorganization 
 and optimization of production processes, decrease of operational costs. In    
 2015 the Company will continue the development in the sector of railway rolling
 stock repair and spare parts production.                                       
In 2015 the reorganization of the Group was done: three subsidiary companies    
 were created: DL LOKOMOTĪVE SIA, DL METALWORKING SIA, Loģistika SIA. Types of  
 operations: DL LOKOMOTĪVE SIA - rolling stock and its aggregate repair; DL     
 METALWORKING SIA - manufacturing of spare parts, metalworking and foundry      
 services; Loģistika SIA - logistic services and services related to the Group's
 utility services and equipment overhaul. The new structure begins to operate on
 April 1, 2015.                                                                 



STATEMENT OF COMPREHENSIVE INCOME                                               
                                               Notes          2014          2013
                                                               EUR           EUR
                                                                                
Revenue                                          (1)    20 068 041    25 632 291
                                                                                
Cost of sales                                    (2)  (18 673 012)  (23 402 166)
                                                                                
Gross profit                                             1 395 029     2 230 125
                                                     ---------------------------
                                                                                
Distribution expenses                            (3)     (398 964)     (491 435)
                                                                                
Administrative expenses                          (4)   (1 901 530)   (1 935 435)
                                                                                
Other income                                     (5)        99 430        46 025
                                                                                
Other expenses                                     0      (79 723)      (48 425)
                                                                                
Finance costs                                    (7)     (356 510)      (99 139)
                                                                                
                                                     ---------------------------
Profit (loss) before tax                               (1 242 268)     (298 284)
                                                     ---------------------------
                                                                                
Corporate income tax                             (8)       (1 057)        56 208
                                                                                
Net profit (loss)                                      (1 243 325)     (242 076)
                                                     ---------------------------
                                                                                
Attributable to:                                                                
Equity holders of a parent company                     (1 243 325)     (242 076)
                                                                                
Earnings per share (in cents)                    (9)                            
Basic                                                      (14.99)        (2.92)
Diluted                                                    (14.99)        (2.92)
                                                                                
Total comprehensive income (expense)                   (1 243 325)     (242 076)
                                                     ---------------------------
                                                                                
Attributable to:                                                                
Equity holders of a parent company                     (1 243 325)     (242 076)
                                                                                
Notes on pages 10 to 35 are an integral part                                    
 of these financial statements.                                                 
                                                                                
Natālija Petrova                                                                
Member of the Board                                                             
                                                                                
Daugavpils, 29 April 2015
News Source: NASDAQ OMX



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2015-04-29 Dissemination of a Corporate News, transmitted by DGAP - a
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Language:    English                                 
Company:     Daugavpils lokomotivju remonta rupnica  
 
 
             Latvia                                  
ISIN:        LV0000101061                            
 
 
End of News    DGAP News-Service  
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