Grobina
JSC „Grobiņa” Unaudited Consolidated Interim Report 12/2014
DGAP-News: Grobina 2015-02-27 / 16:11 --------------------------------------------------------------------- The Company's net sales for 2014 year amounted to EUR 2,879,362, and it has decreased by 23% compared to 2013 year. The Company's loss for 2014 year is EUR 1,657,441, but the 2014 year's net loss per share is EUR -3,315, while the year 2013 net earnings per share were EUR 1,567. Lapsu street 3, Dubeņi, Grobiņa parish, Grobiņa district, Zip : LV- 3411, 2015-02-27 16:11 CET (GLOBE NEWSWIRE) -- The Company's net sales for 2014 year amounted to EUR 2,879,362, and it has decreased by 23% compared to 2013 year. The Company's loss for 2014 year is EUR 1,657,441, but the 2014 year's net loss per share is EUR -3,315, while the year 2013 net earnings per share were EUR 1,567. In 2014 year's 12 months were sold 94 849 mink skins on the average price of EUR 28.39 / pcs, which exceeded the Finnish mink auction average sales price, and however, was below the cost of production. Despite the global fur fall in prices in 2014, JSC 'Grobiņa' during the reporting period has been able to carry out ongoing investment projects in 2013, as a result of the JSC 'Grobiņa' long-term investment to the end of 2014, constitute 15,223,427, -EUR, what is about 6,022,704, -EUR more than in 2013 year. Thanks to the investments made in 2014 ,JSC 'Grobiņa' has boosted its production gaining 120 000 mink skins. As already JSC 'Grobiņa' management predictored the 2014 year's price collapse in the world fur was transitory nature, because since the beginning of the new season, fur sales in 2015, according to the January and February 2015 Auction Results in Danish auction house in Copenhagen and in the Canadian auction NAFA's house - the average realization price of mink skin in excess of 50 EUR /skin and reaches 100% of sales. All this confirms that this season the fur market has recovered and returned to the sales price what was in 2011-2013 year's selling season limits, as a result of JSC 'Grobiņa' management believes that in 2015 will be able to stabilize the company's cash flow and take the accumulated 2014 creditors' debts. BALANCE SHEET ASSETS 31.12.14. 31.12.13. EUR EUR ---------------------------------------------------------------------- II Tangible assets Land, building and 6 015 305 666 533 construction Equipment and machinery 87 282 109 357 Other fixed assets and 762 132 347 674 equipment Construction in progress 1 371 393 5 230 874 Advance payments for 273 543 313 118 tangible assets Total tangible assets 8 509 655 6 667 556 ---------------------------------------------------------------------- III Biological assets Breeding animals 6 709 772 2 529 167 Advance payments for 4 000 4 000 breeding animals Total biological assets 6 713 772 2 533 167 ---------------------------------------------------------------------- Total non-current assets 15 223 427 9 200 723 ====================================================================== Current assets I Inventories Raw materials and 230 243 553 974 consumables Unfinished production 1 084 582 0 Finished production and 2 104 264 3 054 830 goods for sale Total inventories 3 419 089 3 608 804 ---------------------------------------------------------------------- II Receivables Trade receivables 108 544 2 319 Other receivables 37 398 72 544 Prepaid expenses 11 347 9 144 Total receivables 157 289 84 007 ---------------------------------------------------------------------- III Cash (total) 43 778 580 744 ====================================================================== Total current assets 3 620 156 4 273 555 ====================================================================== Total assets 18 843 583 13 474 278 ----------------------------------------------======================== BALANCE SHEET (continued) EQUITY AND LIABILITIES 31.12.14. 31.12.13. EUR EUR ---------------------------------------------------------------------- I Equity Share capital (equity) 711 436 711 436 Reserves: d) other reserves 77 481 77 481 Total reserves 77 481 77 481 Retained earnings a) retained earnings for the previous 2 276 944 1 493 524 year b) retained earnings for the reporting -1 657 441 783 420 year Total retained earnings 619 503 2 276 944 ============================================== Total equity 1 408 420 3 065 861 ====================================================================== II Provisions Other provisions 71 106 69 782 ====================================================================== Total provisions 71 106 69 782 ====================================================================== III Liabilities I Long-term liabilities Loans from credit 0 4 500 541 institutions Other loans 587 073 10 398 Further period income 2 199 191 1 825 366 Deferred tax liabilities 112 278 35 852 Total long-term liabilities 2 898 542 6 372 157 ---------------------------------------------------------------------- II Short-term liabilities Loans from credit 7 153 608 381 006 institutions Other loans 514 809 31 515 Prepayments received from 2 302 548 2 344 865 customers Trade payables 4 087 520 956 731 Taxes and state social 226 643 94 263 insurance payables Other payables 58 709 37 427 Further period income 95 617 96 072 Accrued liabilities 26 061 24 599 Total short-term liabilities 14 465 515 3 966 478 ---------------------------------------------------------------------- Total liabilities 17 364 057 10 338 635 ====================================================================== Total equity and liabilities 18 843 583 13 474 278 ==============================================------------------------ INCOME STATEMENT 2014 2013 EUR EUR ------------------------ Net turnover 2 879 362 3 722 278 Cost of sales 3 514 908 2 025 515 ============================================== Gross profit or loss -635 546 1 696 763 ====================================================================== Sales expenses 119 644 81 918 Administrative expenses 417 056 465 561 Other operating income 157 057 65 639 Other operating expenses 74 210 74 160 ============================================== Profit or loss from -1 089 399 1 140 763 operations ====================================================================== Interest payable and similar 482 189 229 963 expenses ============================================== Profit or loss before -1 571 588 910 800 extraordinary items and taxes ====================================================================== Profit or loss before taxes -1 571 588 910 800 ============ Company income tax for the 0 82 195 accounting year Deferred corporate income 76 426 35 852 tax Other taxes 9 427 9 333 ============================================== Profit or loss of the -1 657 441 783 420 reporting year ====================================================================== Earnings (loss) per share -3,315 1,567 (EPS) ====================================================== More information: Gundars Jaunsleins JSC 'Grobiņa' Chairman of the Board Tel: +371 26353885 News Source: NASDAQ OMX --------------------------------------------------------------------- 2015-02-27 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Grobina Latvia ISIN: LV0000100527 End of News DGAP News-Service --------------------------------------------------------------------- 328201 2015-02-27
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found