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 |