The basic economic activity of the Joint Stock Company invariably is the production and sale of bull semen, comprising 52.3% of its net turnover in the accounting period, as well as the milk testing and data processing services, which collectively comprise 36.1% of the Company's net turnover.  The proportion of the Company's basic activities, if compared to the first nine months of 2014, does not show any significant changes.

Company's net turnover in the first nine months of 2015 was 842.9 thousand EUR, showing a decrease of 3.7% against the corresponding period in 2014, while Company's profit of 103.9 thousand EUR of the first nine months of 2015 shows a decrease of 30.3% against the corresponding period in 2014.

The decrease of the net turnover and the increase of the trade receivables was effected both by the shrinking of the sales market in Russia, due to the sanctions imposed by Russia, and the lifting of quotas on milk production by the European Union in 2015, directly influencing both the milk price and the market conjuncture resulting in lowering of the farmers purchasing power.

The commercial profitability in the first nine months of 2015 was 14.7%, compared to 18.5% in 2014.

Profit or Loss Account for the Period Ended on 30 September 2015

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 the 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