JSC DITTON PIEVADĶĒŽU RŪPNĪCA
Reg. No. 40003030187
Višķu Street 17, Daugavpils, LV-5410, Latvia
FINANCIAL REPORT
FOR 3 MONTHS OF THE YEAR 2022
(01.01.2022 – 31.03.2022)
(Not subject to audit by the independent sworn auditor)
Prepared in accordance with the Financial Instruments Market Law and Law On the
Annual Financial Statements and Consolidated Financial Statements of the Republic of
Latvia
Daugavpils
2022
JSC DITTON PIEVADĶĒŽU RŪPNĪCA
FINANCIAL REPORT FOR 3 MONTHS OF 2022
2
Contents
Information about the Company ..…………………………………...........3-5
Statement about management liability ..……………………………............ 6
Balance sheet ……………………………………..……………….............7-8
Income statement.................................................................................................... 9
Cash flow statement ……………………….........…………………............. 10
Statement of changes in equity ………………………….…………............ 11
Appendixes
Explanatory notes ……………………………………………………. 12
Explanations and analyses on separate items of financial reports …................... 13
JSC DITTON PIEVADĶĒŽU RŪPNĪCA
FINANCIAL REPORT FOR 3 MONTHS OF 2022
3
INFORMATION ABOUT THE COMPANY
Company name
Legal status
Registration number
Registration in Register of Enterprises
Registration in Commercial Register Office
Legal address
Mailing address
Ditton pievadķēžu rūpnīca
Joint Stock Company
40003030187
Rīga, 03.10.1991
Rīga, 29.08.2003
Višķu St. 17, Daugavpils,
LV-5410, Latvia
Višķu St. 17, Daugavpils,
LV-5410, Latvia
Fixed capital
Number of public bearer shares
Nominal value of one share
10,360,000 EUR
7 400 000
1.40 EUR
Chief accountant
Jūlija Lavrecka
Reporting period
01.01.2022 – 31.03.2022
Person in charge for drawing up of the financial report:
Jūlija Lavrecka, phone +371 65402316, e-mail:
dpr@dpr.lv
Boriss Matvejevs, phone +371 65402333, email:
dpr@dpr.lv
JSC DITTON PIEVADĶĒŽU RŪPNĪCA
FINANCIAL REPORT FOR 3 MONTHS OF 2022
4
INFORMATION ON MANAGEMENT BOARD AND COUNCIL
MEMBERS
THE MANAGEMENT BOARD
Chairman of the Management Board
Rolands Zarāns, re-elected on 14.01.2019 (elected since 15.01.2014).
Information about the shares held by the members of the Management Board
Members of the Management Board
Rolands Zarāns
Owned shares
*
Number%
nonenone
COUNCIL
Chairman of the Council
Boriss Matvejevs, re-elected on 18.06.2020 (elected since 05.05.2005).
Members of the Council
Genādijs Zavadskis, re-elected on 18.06.2020 (elected since 05.02.2017).
Oto Dzenis, elected on 18.06.2020.
Aleksandrs Sokolovs, elected on 18.06.2020.
Information about the shares owned by the members of the Council
Members of the Council
Boriss Matvejevs
Genādijs Zavadskis
Oto Dzenis
Aleksandrs Sokolovs
Owned shares*
Number%
nonenone
nonenone
nonenone
700 0009,46**
Information about the professional experience of the members of the Management Board and
Council of the JSC Ditton pievadķēžu rūpnīca (hereafter – Company) can be found on the
website
www.dpr.lv
.
____________________
* at 31.05.2021
**beneficiary of the Shareholder DVINSK MNG, Ltd.
JSC DITTON PIEVADĶĒŽU RŪPNĪCA
FINANCIAL REPORT FOR 3 MONTHS OF 2022
5
SHAREHOLDERS OWNING MORE THAN 5% OF THE COMPANY’S TOTAL
SHARE CAPITAL
*
Given name, surname or Name
Eduards Zavadskis
Vladislavs Drīksne
MAX Invest Holding SIA
Maleks S SIA
SIA „DVINSK MNG”
Shareholding,
%
20,00
19,92
13,63
13,56
9,46
* Note
: (1) The Company is not keeping a share owner and/or a shareholder register. The above information is provided and
updated on the basis of the shareholders list dated 31.05.2021 for the ordinary shareholders’ meeting of AS Ditton pievadķēžu rūpnīca,
which was received from Nasdaq CSD under the Commercial Law of the RoL and the Law on the Financial Instruments Market,
taking into consideration the statements of shareholders on the acquisition or loss of their holdings submitted to the Company under Section
61 of the Law on Financial Instruments Market.
(2) At 31.03.2022, there was no information at the disposal of the Company regarding the allocation of the shares
between the heirs of E. Zavadskis (20,00 % in total) and V.Drīksne (19,92% in total) and the accounting entries in their financial
instruments accounts under Section 125 of the Law on the Financial Instruments Market.
SHARE PRICE DEVELOPMENT
Share price in 3 months
JSC DITTON PIEVADĶĒŽU RŪPNĪCA
FINANCIAL REPORT FOR 3 MONTHS OF 2022
6
STATEMENT ABOUT MANAGEMENT LIABILITY
The Management declares that the interim report for 3 months of the year 2022 has been
prepared in compliance with the existing legislative requirements of the Republic of Latvia and of the
European Union, incl. internal procedures and regulations.
According to the information at our disposal, it gives a true and fair view of the assets, liabilities,
financial standing and profits of the Company, incl. changes in equity.
The Management Board assures that this financial report for 3 months of the year 2022 contains
truthful information and that revenue recognition principle and assessment methods applied by its
preparation are consistent with those applied in the last Annual Report.
The Management states herewith that the information set out in the Management statement to the
financial statements for the year 2021 has no significant changes and is up to date.
Chairman of the Management BoardRolands Zarāns
of JSC Ditton pievadķēžu rūpnīca
JSC DITTON PIEVADĶĒŽU RŪPNĪCA
FINANCIAL REPORT FOR 3 MONTHS OF 2022
7
BALANCE SHEET
ASSETS
31.03.2022.
EUR
31.03.2021.
EUR
Long-term investments
Intangible investments
Concessions, patents, licenses, trademarks and similar rights
Total intangible investments
-
-
403
403
2 061 350
1 791 982
-
-
2 004 496
13 556
2 061 350
1 934 423
-
-
2 250 775
21 705
Fixed assets
Immovable property:
Land
Buildings and structures and permanent crop
Investment properties – land
Investment properties - buildings
Technological equipment and devices
Other fixed assets and inventory
Costs of the establishment of fixed assets and unfinished
building objects
-
-
Total fixed assets
5 871 384
6 268 253
Long-term financial investments
Other securities and investments
Total long-term financial investments
-
-
-
-
Total long-term investments
5 871 384
6 268 656
Current assets
Inventories
Raw materials, consumables and supplies
Work in progress
Finished products and goods for sale
Advance payments for inventories
Total inventories
436 524
195 685
277 839
90 443
1 000 491
463 920
170 402
263 011
100 304
997 637
Debtors
Trade receivables
Other debtors
Next period costs
Total debtors
812 429
50 070
593
863 092
447 632
19 921
634
468 187
Cash
143 918
119 867
Total current assets
2 007 501
1 585 691
TOTAL ASSETS
7 878 885
7 854 347
JSC DITTON PIEVADĶĒŽU RŪPNĪCA
FINANCIAL REPORT FOR 3 MONTHS OF 2022
8
BALANCE SHEET
LIABILITIES
31.03.2022.
EUR
31.03.2021.
EUR
1. Equity
10 360 000
10 360 000
Stock or share capital (equity capital)
Reserves:
Other reserves
169 251
169 251
(9 240 236)
(9 370 970)
106 369
135 796
Retained profits or uncovered losses brought forward from
the previous years
Profit or loss of the reporting year
Total equity
1 395 384
1 294 077
Long-term creditors
Loans from credit institutions
3 811 577
4 135 577
Other loans
-
100 000
Next period income
Total long-term creditors
1 050 031
4 861 608
1 133 515
5 369 092
Short-term creditors:
Loans from credit institutions
Other loans
Prepayments received from purchasers
Accounts payable to suppliers and contractors
Taxes and State mandatory social insurance payments
283 399
100 000
12 447
620 404
312 835
170 384
-
8 364
398 353
382 381
Other creditors135 68973 295
Deferred income
62 613
62 613
Accrued obligations
94 506
95 788
Total short-term creditors
Total creditors
1 621 893
6 483 501
1 191 178
6 560 270
TOTAL LIABILITIES
7 878 885
7 854 347
JSC DITTON PIEVADĶĒŽU RŪPNĪCA
FINANCIAL REPORT FOR 3 MONTHS OF 2022
9
INCOME STATEMENT
31.03.2022.
EUR
31.03.2021.
EUR
Net turnover
1 452 874
1 303 998
(1 116 708)
(947 344)
336 166
356 654
(11)
(11)
Production costs of goods sold, purchase costs of goods sold
or services rendered
Gross profit or loss
Sales costs
Administrative expenses
Other income from operating activities
Other costs of operating activities
Other interest receivable and similar income
Interest payments and similar expenses
(164 668)
25 400
(39 188)
563
(51 893)
(163 800)
30 031
(38 709)
361
(48 730)
·
from other persons
(51 893)(48 730)
Profit or loss before enterprise income tax
Enterprise income tax
Profit or loss for the fiscal period
106 369 135 796
- -
106 369
135 796
Profit/diluted profit or loss per share
0.0140.018
JSC DITTON PIEVADĶĒŽU RŪPNĪCA
FINANCIAL REPORT FOR 3 MONTHS OF 2022
10
CASH FLOW STATEMENT
31.03.2022.
EUR
31.03.2021.
EUR
I. Cash flows from operating activities
1. Profit or loss before enterprise income tax
106 369
135 796
Adjustments to:
Depreciation of fixed assets
Depreciation of intangible assets
EU funds income recognition
Interest payments and similar income
Income from sale of fixed assets
101 498
-
(20 870)
51 893
-
100 931
1 208
(20 870)
48 730
-
2. Profit or loss before adjustments to fixed assets and
short-term creditors
238 890
265 795
(278 466)
30 565
(32 646)
(56 889)
Adjustments to Current assets and Short-term creditors:
Increase or decrease in accounts receivables
Increase or decrease in inventories
Increase or decrease in accounts payable to suppliers,
contractors and other creditors
135 840
(211 177)
Net cash flows used in operating activities
126 829
(34 917)
II. Cash flows from investing activities
Proceeds from sale of fixed assets
-
-
Net cash flows used in investing activities
-
-
III. Cash flows from financing activities
Proceeds from borrowings or repayment of borrowings, net
Subsidies, grants, gifts or donations received
Purchase of fixed assets
(63 987)
(51 893)
-
96 300
(48 730)
(536)
Net cash flows used in financing activities
(115 880)
47 034
Net cash flows of the reporting year
10 949
12 117
Cash and cash equivalents at the beginning of fiscal
period
132 969
107 750
Cash and cash equivalents at the end of fiscal period
143 918
119 867
JSC DITTON PIEVADĶĒŽU RŪPNĪCA
FINANCIAL REPORT FOR 3 MONTHS OF 2022
11
STATEMENT OF CHANGES IN EQUITY
for the period from 01.01.2022 till 31.03.2022
At 1 January 2021
Other reserves
-
-
-
-
169 251
-
-
135 796
135 796
Equity
capital
Other
reserves
Profit or
loss of
fiscal period
Total
EUR
10 360 000
EUR
169 251
Retained
profit of
previous
periods
EUR
(9 345 727)
EUR
(51 451)
EUR
1 234 975
Profit of 3 months period
2021
At 31 March 2021
10 360 000
169 251
(9 370 970)
135 796
1 294 077
At 1 January 2022
10 360 000
169 251
(9 370 970)
130 734
1 289 015
-
-
106 369
106 369
Profit of 3 months period
2022
At 31 March 2022
10 360 000
169 251
(9 240 236)
106 369
1 395 384
JSC DITTON PIEVADĶĒŽU RŪPNĪCA
FINANCIAL REPORT FOR 3 MONTHS OF 2022
12
Appendix
Explanatory notes
Accounting policies and methods applied in present interim financial report are consistent with
those applied in the last Annual Report.
These financial statements are prepared on the basis of source documents and present fairly the
financial position of the JSC as at 31 March 2022, its` operating results and cash flows for 3
months ended 31 March 2022.
This financial report has been prepared in compliance with statutory regulations of the Republic of
Latvia on a going concern basis. Appropriate accounting policies have been applied
consistently to each category.
The interim financial report for 3 months of 2022 has not been audited by sworn auditor.
The interim report has been prepared in euros.
Significant events of the Company’s economic activity, market trends and development of the
Company as well as risks of the Company are given in the Annual report of the Company for the year
2021 and disclosed in the Company’s publication of the significant information on 2 March 2022
and 23 May 2022. Taking into account the deterioration of the Company’s economic situation in
the second quarter of 2022, the review of the Company’s future plans and perspectives is planned at
the ordinary Shareholders’ meeting of the Company.
JSC DITTON PIEVADĶĒŽU RŪPNĪCA
FINANCIAL REPORT FOR 3 MONTHS OF 2022
13
Explanations and analyses on separate items of financial reports
Production of driving chains in 3 months of 2022 (thousand meters)
The index of the produced driving chains is by 61 thousand meters lower than in 3 months of
2021.
Production of driving chains in 3 months of 2022 (thousand euros)
The value of the produced driving chains in these 3 months reached € 1 042 thousand, what is by €
16 thousand higher than the index of the same period of the previous year.
Sales (net-turnover) in 3 months of 2022 (thousand euros)
The net-turnover of the fiscal period is fulfilled by € 1 453 thousand, being by € 149 thousand or
11 per cent more than the index in the same period of the previous year.
Core product sales in 3 months of 2022 (thousand euros)
Core product sales amounting to € 1 206 thousand in the reporting period is by € 120 thousand or
11 per cent more than the result of the same period in the previous year.
The average statistical number of employees in 3 months of year 2022 was 128 employees with
the average salary amounted to EUR 783 what is by EUR 36 higher than in 3 months of 2021.