In the 1st quarter of 2015 the net turnover was EUR 813 007.The result for 3 month of the year 2015 is profits EUR 21153, which corresponds to EUR 0.042 profits per share.

The main activities of the Company in the 1st quarter 2015 were logging and production of timber products: peeled and turn poles production in timber processing unit.
In the 1st quarter 2015 the net turnover was EUR 813 007.

During 3 month of the year 5010 m3 poles were produced in the timber processing unit and woodchips of 15858.-m3 were sold.

Total revenues for the Company during 3 month of year 2015 were EUR 813007.
Revenues from sale of fixed assets EUR 0.00

The result for 3 month of the year 2015 is profits EUR 21153, which corresponds to EUR 0.042 profits per share.

                                                                             2015              2014
                                                        Note             EUR              EUR
Revenues                                          2          813 007      730 022
Cost of goods sold                          3          (772 806)     (656 482)
Gross result                                                     40 201         73 540
Administration expenses                4               14 190         14 999
Other operating income                  5                                          579
Other operating expenses              6                  4961             5342
Fiancial income                               7                  1426               385   
Financial expenses                         8                   (867)             (419)
Profit (loss) before taxes                              21 609          53 744
Deferred corporate income tax 9; 18          

Other taxes                                       17                 (456)               (456)

Net profit (loss)                                                 21 153            53 288

In the future the Company plans to continue the production of peeled and turn poles, increasing the proportion of timber purchased from small logging companies and private loggers, whose price offering is lower than that of VAS Latvijas valsts meži. It is also planned to sell the produced goods to a wider network of clients, achieving the most beneficial sales price.

Please find attached Financial Report of 3 month 2015.

Chairman of the Board

JSC Talsu mezrupnieciba

Gatis Staks

Mob.ph. +371 265 388 94

e-mail: gatis@tmr.lv