CORRECTION: JSC "Daugavpils Lokomotīvju Remonta R

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Posted On: 11/23/2017 9:00:34 AM

Posted By: News Desk 2018

CORRECTION: JSC "Daugavpils Lokomotīvju Remonta Rūpnīca" Unaudited Consolidated Interim Report of 9 month 2017

Daugavpils, 2017-11-23 14:11 CET (GLOBE NEWSWIRE) -- Correct: Current assets - Inventories 3 417 793

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

The consolidated net turnover of the Group of the 9 months of 2017 amounted 16,2 million. EUR (144,6 % increase compared with net turnover in the relevant period of 2016). The Group completed 9 months period of 2017 with a loss of 2,0 million EUR. During the accounting period, the Group exported its products to 8 countries, the total export volume amounted 14,7 million EUR (compared with 9 months of 2016 – 6,1 million EUR). The main directions of export in reporting period were EU countries: Estonia, Lithuania, Poland and Finland, and the third countries: Russia, Belarus, Kazakhstan and Uzbekistan. Losses are related with historical non-workload of first quarter. At the second quarter Company had loads, but could not realize objects due to the large delays of components deliveries from suppliers. For today the Company is operating at full load. On 23 October 2017 the shareholder of DLRR OÜ Lokomotiiv Investeeringud has made the mandatory share redemption offer (hereinafter - the Offer) on the shares of DLRR. The Offer has been made in accordance with decision No 168 of 17 October 2017 of the Financial and Capital Market Commission. The price per one share under the Offer is EUR 0.44. The Offer made by OÜ Lokomotiiv Investeeringud will not have any impact on the employment policy of DLRR, the employees of DLRR will maintain their work places in accordance with the concluded employment agreements. Moreover, this Offer will not have any impact on the business strategy of DLRR, as well as the fulfilment of the future plans. There are no decisions to change the business profile or the location of the company.

STATEMENT OF COMPREHENSIVE INCOME

	Notes	01.01.2017 - 30.09.2017		01.01.2016 - 30.09.2016
			EUR		EUR

Net sales	(1)	16 208 069		11 195 324

Cost of sales	(2)	(17 156 260)		(11 772 243)

Gross profit (loss)		(948 191)		(576 919)

Distribution expenses	(2)	(223 414)		(214 911)

Administrative expenses	(2)	(778 451)		(1 000 696)

Other income		342 066		324 198

Other expenses		(103 012)		(500 917)

Net finance income and loss		(332 301)		(522 229)

Profit (loss) before tax		(2 043 303)		(2 491 474)

Net profit (loss)		(2 043 303)		(2 491 474)

Attributable to:
Equity holders of a parent company		(2 043 303)		(2 491 474)
Minority interest		-		-

Earnings per share (in cents)
Basic		(0.25)		(0.30)
Diluted		(0.25)		(0.30)

Total comprehensive income (expense)		(2 043 303)		(2 491 474)

Attributable to:
Equity holders of a parent company		(2 043 303)		(2 491 474)
Minority interest		-		-