Rigas elektromašinbuves rupnica
Company announcement on the results
Rigas elektromašinbuves rupnica 21.01.2015 09:08 Dissemination of a Adhoc News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Taking into consideration a sharp drop of Russian Ruble rate in relation to Euro(RUB/EUR) that provides its adverse effect in 2014, especially in 4st quarter, the expected profit of JSC 'Riga Electric Machine Building Works' will amount approximately EUR 0,7 mln. The expected amount of net turnover for 2014 will be EUR 34.mln. Taking into consideration that the RUB/EUR rate continues declining in 2015 JSC 'Riga Electric Machine Building Works' will face decrease in sales and, appropriately, profit indicators will decrease by 25-35%. The Board of JSC 'Riga Electric Machine Building Works' has approved an arrangement of measures that provide optimization of all costs and minimization of all kinds of expenses that provides completion of budget arrangement project for 2015, namely, net turnover not less than EUR 21.mln net profit at the amount of EUR 0,5 mln. News Source: NASDAQ OMX 21.01.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Rigas elektromašinbuves rupnica Latvia Phone: Fax: E-mail: Internet: ISIN: LV0000101012 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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