Published: 2021-03-22 15:10:00 CET
Siguldas CMAS
Annual Financial Report

Siguldas CMAS JSC Audited Annual Report for 2020

The Company’s net turnover in 2020 was 1.2 million euros, which is by 48 thousand euros or 4.1% bigger than in 2019.

The proportion of the revenue from the Company’s basic economic activities, if compared to year 2019, had not changed substantially − the revenue from the sales of the bull semen comprised 56.7% of the net turnover, whereas the milk laboratory services and processing of supervisory data services, taken together, accounted for 34.5% of the net turnover.

2020 ended with a profit of 104 thousand euros. Compared to 2019, profit before taxes for the reporting year has increased by 56 thousand euros, mainly due to the increase in net turnover.

The Covid-19 outbreak did not substantially affect the Company's business, financial condition and economic indicators.


Net sales:1 236 9041 188 527
a) from agricultural activities1 236 9041 188 527
Changes in stock or ready-made goods and unfinished products30 13210 219
Other operating income63 11236 036
Costs of materials:(554 663)(531 271)
a) raw materials and auxiliary costs of materials(448 270)(424 415)
b) other external costs(106 393)(106 856)
Personnel costs:(478 648)(465 076)
a) salaries for work(380 057)(366 701)
b) state social insurance compulsory contributions(87 204)(86 480)
c) other social insurance costs(11 387)(11 895)
Depreciation adjustments:(114 354)(101 982)
a) depreciation adjustments of fixed and intangible assets(57 826)(51 252)
b) depreciation adjustments of current assets which the company considers to be above the normal write-off amounts(56 528)(50 730)
Other operating costs(75 665)(86 110)
Profit or loss before enterprise income tax106 81850 343
Enterprise income tax for the reporting year2 750-
Profit or loss after enterprise income tax calculation104 06850 343
The profit or loss for the year 104 068 50 343
Equity per 1 share (EPS)0.2460.119

JSC ‘Siguldas ciltslietu un mākslīgās apsēklošanas stacija’ is one of the largest high-quality breeding bull semen producers and suppliers in Latvia. The second largest field of the Company’s basic economic activities is milk testing services. The Company also provides other breeding related services – consultations on issues of cattle breeding, feeding and keeping, evaluation of cow exterior, artificial insemination of cows, initial processing of the monitoring data.

Valda Mālniece

Member of the Management Board, Manager of the Financial and Accounting department



Siguldas_CMAS_Remuneration_report_ 2020.pdf