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Published: 2023-03-20 15:10:00 CET
Siguldas CMAS
Annual Financial Report

Siguldas CMAS JSC Audited Annual Report for 2022

The Company’s net turnover in 2022 was 1.6 million euros, which is by 168 thousand euros or 12.1% bigger than in 2021.

The proportion of the revenue from the Company’s basic economic activities, if compared to year 2021, had not changed substantially − the revenue from the sales of the bull semen comprised 57.1% of the net turnover, whereas the milk laboratory services and processing of supervisory data services, taken together, accounted for 29.7% of the net turnover.

2022 ended with a profit of 143 thousand euros. Compared to 2021, the profit before taxes for the reporting year has increased by 48 thousand euros, which was mainly caused by the increase in net turnover, as well as the valuation of the investment property.

The outbreak of Covid-19 and the Russian invasion of Ukraine did not significantly affect the Company's economic activity, financial situation and economic indicators.


Net sales:1 557 9521 389 544
a) from agricultural activities1 557 9521 389 544
Changes in stock or ready-made goods and unfinished products(14 791)(4 348)
Other operating income106 34961 177
Costs of materials:(805 569)(672 269)
a) raw materials and auxiliary costs of materials(681 454)(557 973)
b) other external costs(124 115)(114 296)
Personnel costs:(521 659)(493 561)
a) salaries for work(412 339)(393 590)
b) state social insurance compulsory contributions(97 806)(88 900)
c) other social insurance costs(11 514)(11 071)
Depreciation adjustments:(92 209)(106 749)
a) depreciation adjustments of fixed and intangible assets(45 561)(57 495)
b) depreciation adjustments of current assets which the company considers to be above the normal write-off amounts(46 648)(49 254)
Other operating costs(81 633)(73 148)
Profit or loss before enterprise income tax148 440100 646
Enterprise income tax for the reporting year5 0403 850
Profit or loss after enterprise income tax calculation143 40096 796
The profit or loss for the year 143 400 96 796
Earnings per 1 share (EPS)0.3390.229

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

E-mail: valda.malniece@sigmas.lv


Siguldas_CMAS_remuneration_report_ 2022.pdf