Management report

Types of activity

The main activities of AS “VEF Radiotehnika RRR” in 2018 were:                                                                                               

1.   Real estate renting services;                                    

2.    Manufacturing of  acoustic systems; purchase and sale of their enclosures.                                                          

When compared with the previous reporting period, no new main activities have been included.

 In the future, it is planned to restore acoustic systems development, organization of production and sales.

Operations of the Company during the reporting year

Reporting year results of the Company are the following:                                                                                                                             

      Result before extraordinary items and taxes:                     (15 516) EUR                        

      Net result:                                                                           (15 516) EUR                                                                      

In 2018, net turnover amounted to 154 291 EUR which is 80% less when compared to 2017.

The Company's current  assets exceeded its short-term liabilities by 46 400 EUR.