JSC "Daugavpils Lokomotīvju Remonta Rūpnīca" audited consolidated annual report for the year 2014.
Daugavpils, 2015-04-29 09:50 CEST (GLOBE NEWSWIRE) --
| Type of operations | |||||||||||||||||||||||||
| Basic activity of AS "DAUGAVPILS LOKOMOTĪVJU REMONTA RŪPNĪCA" and its subsidiaries (further - the Group) is railway rolling stock overhaul repair, maintenance and upgrade, manufacturing and repair of its spare parts. The Group provides repair services of all types of railway rolling stock - diesel and electric locomotives and electric trains. | |||||||||||||||||||||||||
| Performance of the Group during the financial year | |||||||||||||||||||||||||
| In 2014 the Group's consolidated net sales amounted to 20,1 million EUR (decrease of 21% in respect of net sales of 2013). The Group finished the year with losses of 1,2 million EUR. In 2014 the Group exported its products to 8 countries, the total export volume amounted to 18 million EUR (in 2013 - 23,2 million EUR), while net sales in Latvia amounted to 2,1 million EUR (in 2013 – 2,4 million EUR). The main directions of export in 2014 were EU countries: Lithuania and Estonia, and third countries: Russia, Belarus and Uzbekistan. During the reporting year, the Group was provided with the repair works only in Q1 and Q3 due to the devaluation of the Russian ruble and the crisis in Ukraine. In 2014 almost all of the equipment within the framework of ERAF project was purchased and brought into operation. The final implementation of the project carried out on March 2, 2015. | |||||||||||||||||||||||||
| Future prospects | |||||||||||||||||||||||||
| In 2015 the Group’s priority is expanding of customer base and developing of new products, including machinery industry. The Group has a material base for these activities, including the equipment purchased in cooperation with ERDF funds. To increase the economic efficiency the Company has carried out reorganization and optimization of production processes, decrease of operational costs. In 2015 the Company will continue the development in the sector of railway rolling stock repair and spare parts production. In 2015 the reorganization of the Group was done: three subsidiary companies were created: DL LOKOMOTĪVE SIA, DL METALWORKING SIA, Loģistika SIA. Types of operations: DL LOKOMOTĪVE SIA – rolling stock and its aggregate repair; DL METALWORKING SIA – manufacturing of spare parts, metalworking and foundry services; Loģistika SIA – logistic services and services related to the Group's utility services and equipment overhaul. The new structure begins to operate on April 1, 2015. | |||||||||||||||||||||||||
| STATEMENT OF COMPREHENSIVE INCOME | ||||||||||||||||||||||||||
| Notes | 2014 | 2013 | ||||||||||||||||||||||||
| EUR | EUR | |||||||||||||||||||||||||
| Revenue | (1) | 20 068 041 | 25 632 291 | |||||||||||||||||||||||
| Cost of sales | (2) | (18 673 012) | (23 402 166) | |||||||||||||||||||||||
| Gross profit | 1 395 029 | 2 230 125 | ||||||||||||||||||||||||
| Distribution expenses | (3) | (398 964) | (491 435) | |||||||||||||||||||||||
| Administrative expenses | (4) | (1 901 530) | (1 935 435) | |||||||||||||||||||||||
| Other income | (5) | 99 430 | 46 025 | |||||||||||||||||||||||
| Other expenses | 0 | (79 723) | (48 425) | |||||||||||||||||||||||
| Finance costs | (7) | (356 510) | (99 139) | |||||||||||||||||||||||
| Profit (loss) before tax | (1 242 268) | (298 284) | ||||||||||||||||||||||||
| Corporate income tax | (8) | (1 057) | 56 208 | |||||||||||||||||||||||
| Net profit (loss) | (1 243 325) | (242 076) | ||||||||||||||||||||||||
| Attributable to: | ||||||||||||||||||||||||||
| Equity holders of a parent company | (1 243 325) | (242 076) | ||||||||||||||||||||||||
| Earnings per share (in cents) | (9) | |||||||||||||||||||||||||
| Basic | (14.99) | (2.92) | ||||||||||||||||||||||||
| Diluted | (14.99) | (2.92) | ||||||||||||||||||||||||
| Total comprehensive income (expense) | (1 243 325) | (242 076) | ||||||||||||||||||||||||
| Attributable to: | ||||||||||||||||||||||||||
| Equity holders of a parent company | (1 243 325) | (242 076) | ||||||||||||||||||||||||
| Notes on pages 10 to 35 are an integral part of these financial statements. | ||||||||||||||||||||||||||
| Natālija Petrova | ||||||||||||||||||||||||||
| Member of the Board | ||||||||||||||||||||||||||
| Daugavpils, 29 April 2015 | ||||||||||||||||||||||||||
