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Management Report
The types of activities performed by the JSC “Brivais vilnis” (“the
Company”) are processing and canning of fish and fish products,
wholesale of food products, including fish, shellfish and mollusc,
and other commercial activities classified nowhere else.
Year 2014 was the 23rd year of operation since the
Company was transformed into a Joint Stock Company.
In
2014 the JSC „Brivais vilnis” continued modernization of production
process, obtained a number of new equipment for production of
canned fish products.
We are a leader in product quality, we do not use genetically
modified raw materials and synthetic food additives in the
production.
In
the reporting year the Company carried out the reregistration of
the share capital from the Lats to the Euro.
In
2014 we started production of canned fish in multilayer plastic
cans, any other producer of canned fish has such type of product.
Canned fish in plastic can is tastier and well seen
visually.
In
2014 the Company produced a total of 22.5 million cans of various
types (157) of canned fish products, including 10.0 million cans of
sprat. 22.4 million cans were sold for EUR 12.8 million. Gross
profit in 2014 is EUR 1,5 million.
The
financial result of the year 2014 is profit of EUR 257 010.
Impact on the operating results of the JSC “Brivais vilnis” left
depreciation of the Russian ruble and devaluation of the Ukrainian
hryvnia. To sell products, the Company had to reduce the selling
prices. As well as due to depreciation of the Russian ruble, there
was the fall of demand in Russia.
The
management of the Company recommends covering of previous years
losses with the profit of reporting year.
The
Company`s goal is to continue work on introduction of new types of
packaging and looking for additional markets in Mexico, China and
France in 2014. We are planning intensive visiting of international
exhibitions.
As
from May 18, 2015 the JSC “Brivais vilnis” will temporarily stop
the production to carry annual repairs out. The Company plans to
restart the production in the beginning of August, 2015. To ensure
fulfilment of orders in summer, the Company has produced the
products in required quantity and assortment. All relieved
employees will re-start the work in the Company in
August.
On behalf of the Board:
Arnolds Babris
Chairman of the Board
May 14, 2015
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