„PATA Saldus” JSC Revised Annual report for the year 2020
Principal activities of the Company are forestry and primary wood processing - lumber production.
Within the framework of economic activity, the necessary forestry work shall be carried out to ensure reforestation, maintenance and enhancement of the forest by means of environmentally friendly, non-degrading forest management, working in accordance with the requirements and recommendations of forest management and wood supply chain certificates. In the process of wood processing JSC PATA Saldus shall operate in accordance with the requirements of the certificate of the energy management system (LVS EN ISO 50’001:2012). In order to meet these requirements, the Company shall regularly take the appropriate monitoring and improvement measures, but the proportion of these costs in the cost of production is not relevant.
JSC PATA Saldus profit from operating activities in 2020 was EUR 5 400 420 with a net turnover of EUR 57 617 808, which represents earnings per weighted average share issued of 6.52 EUR. The Company’s financial statements have been prepared based on the information available to the board, existing laws and regulations, that gives a true and fair view of assets, liabilities, financial position and profit or loss that is generated by the Company and consolidated group. The report contains true information.
In relation to the previous reporting year, in 2020 the Company carried profit. This, net turnover has increased by 230 542 EUR. As at 31 December 2020, the Company's current assets exceeded current liabilities by 12 219 238 EUR, while total assets exceeded total liabilities by 18 940 821 EUR.
Chairman of the Board Gatis Zommers