JSC "Daugavpils Lokomotīvju Remonta Rūpnīca" Unaudited Consolidated Interim Report of 9 months 2015
Daugavpils, 2015-11-25 15:18 CET (GLOBE NEWSWIRE) -- JSC "Daugavpils Lokomotīvju Remonta Rūpnīca" Unaudited Consolidated Interim Report of 9 months 2015
| Type of operations | |||||||||||||||||||||||||||
| Basic activity of AS "DAUGAVPILS LOKOMOTĪVJU REMONTA RŪPNĪCA" is railway rolling stock overhaul repair, maintenance and upgrade, manufacturing and repair of its spare parts. AS "DAUGAVPILS LOKOMOTĪVJU REMONTA RŪPNĪCA" provides a repair services of all types of railway rolling stock - diesel - electric locomotives and electric trains. | |||||||||||||||||||||||||||
| Performance of the Group during the financial year | |||||||||||||||||||||||||||
| During the 9 month period in 2015 the consolidated net sales of the Group amounted to 10,2 million EUR (58,9 % decrease in respect of net sales in the respective period in 2014). | |||||||||||||||||||||||||||
| The Group completed the 9 month period in 2015 with a loss of 1,6 million EUR. During the period the Group exported its products to 9 countries, the total export volume amounted to 8,1 million EUR (in similar period in 2014 - 15,5 million EUR). The main directions of export in reporting period were EU countries: Estonia, Poland and Lithuania, and the third countries: Russia, Belarus, Kazahstan | |||||||||||||||||||||||||||
| On 2nd of March 2015 the company implemented the ERAF project; the new equipment is placed in service and the final report of LIAA is handed over. 30th of June 2015 the company received ES funds and a partial debt reimbursement to the bank. Big losses are related first of all to the closure of project in Russian rubles, as well as the reason was that the company was not provided with orders to full capacity, therefore, to increase the company’s operations economic efficiency the companies has a reorganization, proceedings processes optimization and the reduce of current spending were being carried out. In the meanwhile, the Company has been actively participating in a variety of marketing events such as thematic fairs, conferences and mass media advertising. These events have been done to learn new technological practices and to approach clients. As of now, the company has acquired the first orders that have been processed and sent out to an orderer. Even though we are now fully occupied by work it is still not enough to subsidise the Russian trade scope. Our purpose - to increase scope of production (sales) outside the Russian market to avoid currency risk; to continue elaborating company’s efficiency and keep production optimisation in balance. | |||||||||||||||||||||||||||
| STATEMENT OF COMPREHENSIVE INCOME | |||||||||||||||||||||||||||
| Notes | 01.01.2015 - 30.09.2015 | 01.01.2014 - 30.09.2014 | |||||||||||||||||||||||||
| EUR | EUR | ||||||||||||||||||||||||||
| Net sales | (1) | 10 237 053 | 17 372 149 | ||||||||||||||||||||||||
| Cost of sales | (2) | (10 649 057) | (15 996 420) | ||||||||||||||||||||||||
| Gross profit (loss) | (412 004) | 1 375 729 | |||||||||||||||||||||||||
| Distribution expenses | (2) | (168 458) | (213 183) | ||||||||||||||||||||||||
| Administrative expenses | (2) | (1 489 179) | (1 395 940) | ||||||||||||||||||||||||
| Other income | 402 551 | 137 676 | |||||||||||||||||||||||||
| Other expenses | (29 124) | (21 077) | |||||||||||||||||||||||||
| Net finance income and loss | 86 049 | (28 336) | |||||||||||||||||||||||||
| Profit (loss) before tax | (1 610 165) | (145 131) | |||||||||||||||||||||||||
| Corporate income tax | (5 748) | ||||||||||||||||||||||||||
| 0 | 0 | ||||||||||||||||||||||||||
| Net profit (loss) | (1 610 165) | (150 879) | |||||||||||||||||||||||||
| Attributable to: | |||||||||||||||||||||||||||
| Equity holders of a parent company | (1 610 165) | (150 879) | |||||||||||||||||||||||||
| Minority interest | - | - | |||||||||||||||||||||||||
| Earnings per share (in cents) | |||||||||||||||||||||||||||
| Basic | (0.19) | (0.02) | |||||||||||||||||||||||||
| Diluted | (0.19) | (0.02) | |||||||||||||||||||||||||
| Total comprehensive income (expense) | (1 610 165) | (150 879) | |||||||||||||||||||||||||
| Attributable to: | |||||||||||||||||||||||||||
| Equity holders of a parent company | (1 610 165) | (150 879) | |||||||||||||||||||||||||
| Minority interest | - | - | |||||||||||||||||||||||||
| Natālija Petrova | |||||||||||||||||||||||||||
| Member of the Board | |||||||||||||||||||||||||||
| Daugavpils, 25 November 2015 | |||||||||||||||||||||||||||
