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LTD Baltic Dairy Board annual report for the year ended 31st December 2018
Emitents Baltic Dairy Board, SIA (9676003WOZ19K9GDVC97)
Veids 1.1 Gada finanšu pārskati un revīzijas ziņojumi
Valoda EN
Statuss Publicēts
Versija
Datums 2019-04-30 17:14:08
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Teksts

Year 2018 net turnover 884 288 EUR. During the reporting period net loss 1 466 618EUR, 2018 book value   8 563 373  EUR .


The type of operations of SIA “Baltic Dairy Board” is enhanced processing of conventional and organic raw milk and its by-products through the application of biotechnological methods. The raw material is produced for butter, cheese, milk protein. The Company specialises in the production of specific galacto-oligosaccharides intended for use by companies producing food for infants and young children. In addition, the Company has launched the production of organic products (raw materials).

 

In annual report Net turnover was 884 288  EUR.

The book value of year 2018 is 8 563 373   EUR which is 14% less than 2017.

  In annual report Net loses are 1 466 618 EUR which is 30%  more than 2017 There are several reasons for the net loss:

1. asset depreciation costs in the amount of 561 495 EUR

2. expensive funding costs in the amount of 553 584 EUR

3. production facility costs and wages.

 

 

  NOTES 2018 2017
  EUR EUR
Net sales (1) 884 288 19 456 023
Cost of sales (2) (1 677 251) (18 848 333)
Gross profit   (792 963) 607 690
Distribution expenses (3) (19 395) (312 645)
Administrative expenses (4) (155 264) (450 362)
Other income (5) 221 022 292 917
Other expenses (6) (132 402) (388 822)
Finance income   1 953  
Finance expenses (8) (553 584) (587 540)
Profit (loss) before tax   (1 430 633) (838 762)
Corporate income tax (9) (35 985) (279 096)
Net profit   (1 466 618) (1 117 858)
       
 
 
 
 
   
 
 
 
 
 
 
 
 
 
     
  NOTES 31.12.2018. 31.12.2017.
ASSETS EUR EUR
Non-current assets      
Intangible assets (10)   49
Property, plant and equipment (11) 8 109 575 8 707 261
Deferred tax assets (9) - -
Participation in the capital of another company   200 200
    8 109 775 8 707 510
Current assets      
Inventories (12) 354 465 340 225
Trade receivables (13) 8 674 883 076
Corporate income tax receivable   - -
Other current assets (14) 85 757 37 821
Cash and cash equivalents (15) 4 702 769
Total current assets:   453 598 1 261 891
Total assets   8 563 373 9 969 401
       
EQUITY AND LIABILITIES      
Equity      
Share capital (17) 777 778 777 778
Share issue premium   421 557 421 557
Retained earnings:      
Retained earnings or losses   (1 363 761) (245 903)
Profit or loss of the year   (1 466 618) (1 117 858)
Total equity:   (1 631 044) (164 426)
Liabilities      
Non-current liabilities      
Debenture loans (17) 1 341 002 1 128 695
Deferred revenue (18) 1 405 730 1 455 094
Loans from credit institutions (21) -                           1 753 538
Other borrowings (21) 746 767 746 767
Finance lease liabilities (19) 896 33 700
Total non-current liabilities:   3 494 395 5 176 246
Current liabilities      
Deferred revenue (18)                  67 479                        85 594
Finance lease liabilities (19) 7 256 38 917
Factoring liabilities (20) 23 536 132 382
Loans from credit institutions (21) 3 575 016 1 801 308
Trade payables (22) 1 666 284 1 804 409
Current income tax payables (23) 35 964  
Corporate income tax   190 784 269 639
Advances from customers (24) 1 133 703 883 784
Other liabilities          6 700 022 4 957 581
Total current liabilities:   10 194 417 10 133 827
Total liabilities:   8 563 373 9 969 401
       

 

 


Family owned company founded in 2008. From year 2008 until 2015 main business connected with raw milk logistics and other dairy product purchase and distribution. In 2015 company opened new added value product factory located in Bauska, Latvia. Factory is one of the larges Milk protein and Whey protein manufacturer in northern Europe with approx. 8 000MT of protein powder produced every year.

 

         Additional information:
         Kaspars Kazaks
         Member of the Board
         Phone +371 26010072
         e-mail:kaspars@bdb.lv

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