Valmieras stikla škiedra
JSC „Valmieras stikla šķiedra” Unaudited Consolidated Interim Report Q4/2014
DGAP-News: Valmieras stikla škiedra 2015-02-27 / 15:05 --------------------------------------------------------------------- JSC 'Valmieras stikla šķiedra' concludes the year 2014 with the highest net turnover since the foundation of the company The consolidated net turnover of the Group in the year 2014 has reached EUR 108.7 Million. That is the highest net turnover reached in the company since it was founded. It has increased by EUR 20.2 Million or 23% compared to the Groups consolidated net turnover in the 2013. The consolidated net profit of the Group in the year 2014 has reached EUR 7.59 Million and that is 49% more compared to the Groups net profit in 2013. Net profit per share in the year 2014 reaches EUR 0.3176 and that is the highest index during existence of the company. The production of JSC Valmieras stikla šķiedra is being sold in 39 countries all over the world, reaching 97% export capacity. The main sales markets of JSC 'Valmieras stikla šķiedra' are: the countries of the European Union (72%, an increase of 11% compared with the same period last year) and North America. Middle East and Asia region export market significantly evolve. Statement of profit and loss For the period ended December 31st 2014 and December 31s 2013 31.12.2014 31.12.2013 EUR EUR Sales 108 698 544 88 532 563 Change in inventories 5 297 394 1 562 995 Other operating income 812 492 1 672 217 Raw materials and consumables (57 175 (48 052 577) 301) Personnel expenses (21 319 (15 231 658) 761) Depreciation and amortization (9 513 596) (8 584 144) Other operating expenses (18 099 (13 873 702) 342) ------------------------- ------------------------- Operating profit 8 699 897 6 026 227 Interest and similar income 856 156 879 280 Interest and similar expenses (1 738 289) (1 672 757) ------------------------- ------------------------- Profit from operations and before tax 7 817 764 5 232 750 Corporate income tax (225 236) (129 287 Net profit 7 592 528 5 103 463 Profit per share applicable to the parent company's 0.3014 0.2101 shareholders Profit per share 0.3176 0.2135 Balance Sheet (ASSETS) As at December 31st 2014 and December 31st 2013 31.12.2014 31.12.2013 EUR EUR ASSETS Non-current assets Intangible assets Patents, licenses, trade mark and similar rights 470 179 51 435 Costs of establishment of intangible investments - 156 937 Goodwill 3 930 822 3 930 822 ------------------------- ------------------------- Total intangible assets 4 401 001 4 139 194 Tangible fixed assets Land and buildings 13 974 563 11 960 567 Equipment and machinery 45 732 132 48 408 104 Other fixed assets 922 977 810 959 Constructions in progress 7 605 917 3 659 184 Advance payments for fixed assets 3 960 646 764 663 ------------------------- ------------------------- Total fixed assets 72 196 236 65 603 477 Deferred tax assets 1 214 908 1 088 889 ------------------------- ------------------------- Total non-current assets 77 812 145 70 831 560 Current assets Inventory Raw materials 10 077 153 9 099 129 Work in progress 4 604 407 2 730 162 Finished goods 15 777 253 12 165 063 Advance payments for inventories 289 583 79 470 ------------------------- ------------------------- Total inventory 30 748 395 24 073 824 Accounts receivable Trade receivables 11 711 664 12 537 181 Other receivables 603 949 942 704 Deferred expenses 423 474 214 350 ------------------------- ------------------------- Total accounts receivable 12 739 086 13 694 235 Cash and cash equivalents 1 136 950 1 175 121 ------------------------- Total current assets 44 624 432 38 943 180 ------------------------- ------------------------- TOTAL ASSETS 122 436 577 109 774 740 ========================= Balance Sheet (Liabilities) As at December 31st 2014 and December 31st 2013 31.12.2014 31.12.2014 EUR EUR Liabilities & SHAREHOLDERS' EQUITY Shareholders' equity Share capital 33 464 487 34 011 197 Other reserves 1 625 288 475 201 Retained earnings: a) Retained earnings 11 453 637 8 358 044 b) Current year profit 7 592 528 5 103 463 ------------------------------ ------------------------------ Total shareholders' equity 54 135 941 47 947 905 Liabilities Non-current liabilities Due to credit institutions 28 914 993 25 714 109 Finance lease 191 322 130 773 Deferred tax 754 869 411 466 Retirement benefit obligation 3 776 997 4 450 074 Deferred income 3 021 278 1 267 868 Embedded derivatives 1 250 139 1 625 836 ------------------------------ ------------------------------ Total non-current liabilities 37 909 598 33 600 126 Current liabilities Due to credit institutions 16 206 030 10 986 287 Finance lease 119 215 73 373 Advance payments from customers 209 833 136 246 Trade payables 9 998 210 13 014 438 Taxes and social security contributions 584 016 753 660 Other accounts payable 571 656 548 764 Accrued liabilities 1 542 290 1 554 155 Retirement benefit obligations 994 370 994 370 Deferred income 165 418 165 416 ------------------------------ Total current liabilities 30 391 038 28 226 709 ------------------------------ ------------------------------ Total liabilities 68 300 636 61 826 835 ------------------------------ Total liabilities & shareholders' equity 122 436 577 109 774 740 ============================== Marika Nīmante JSC 'Valmieras stikla šķiedra' Marketing project manager Phone: +371 64202276, +371 26635509 E-mail: marika.nimante@valmiera-glass.com News Source: NASDAQ OMX --------------------------------------------------------------------- 2015-02-27 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. 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: Valmieras stikla škiedra Latvia ISIN: LV0000100485 End of News DGAP News-Service --------------------------------------------------------------------- 328105 2015-02-27
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