Daugavpils, 2015-08-26 09:01 CEST (GLOBE NEWSWIRE) --
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.
During the 6 month period in 2015 the consolidated net sales of the Group amounted to 6,2 million EUR (55,3 % decrease in respect of net sales in the respective period in 2014).
The Group completed the 6 month period in 2015 with a loss of 1,3 million EUR. During the period the Group exported its products to 9 countries, the total export volume amounted to 4,7 million EUR (in similar period in 2014 - 10,2 million EUR). The main directions of export in reporting period were EU countries: Estonia, Poland and Lithuania, and the third countries: Russia, Belarus.
In 2 of March 2015 the company implemented the ERAF project; the new equipment is placed in service and handed over the final report of LIAA. On 30 July 2015 the company has received EU funds financing and partly extinguished the debt to the bank. Big losses are related first of all to the conclusion 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 proceedings reorganization, proceedings processes optimization and the reduce of current spending were carried out. To reduce spending the company plans : to increase sales outside the Russian market part, including the purpose to avoid currency risks; to increase turnover part, which is not related to diesel locomotives repair; to receive EU financing and partly to discharge a debt to the bank with the aim of reducing of credit spending. Today the company is actively working to increase turnover by ussuing and service provision of metalworking on the new equipment bought under the European project.
| STATEMENT OF COMPREHENSIVE INCOME | |||||||||||||||||||||||||||
| Notes | 01.01.2015 - 30.06.2015 | 01.01.2014 - 30.06.2014 | |||||||||||||||||||||||||
| EUR | EUR | ||||||||||||||||||||||||||
| Net sales | (1) | 6 212 223 | 11 237 284 | ||||||||||||||||||||||||
| Cost of sales | (2) | (6 095 433) | (9 430 021) | ||||||||||||||||||||||||
| Gross profit (loss) | 116 790 | 1 807 263 | |||||||||||||||||||||||||
| Distribution expenses | (2) | (114 609) | (144 677) | ||||||||||||||||||||||||
| Administrative expenses | (2) | (1 290 210) | (1 503 955) | ||||||||||||||||||||||||
| Other income | 80 938 | 232 340 | |||||||||||||||||||||||||
| Other expenses | (19 373) | (50 327) | |||||||||||||||||||||||||
| Net finance income and loss | (102 135) | (71 554) | |||||||||||||||||||||||||
| Profit (loss) before tax | (1 328 599) | 269 090 | |||||||||||||||||||||||||
| Corporate income tax | (5 748) | ||||||||||||||||||||||||||
| Net profit (loss) | (1 328 599) | 263 342 | |||||||||||||||||||||||||
| Attributable to: | |||||||||||||||||||||||||||
| Equity holders of a parent company | (1 328 599) | 263 342 | |||||||||||||||||||||||||
| Minority interest | - | - | |||||||||||||||||||||||||
| Earnings per share (in cents) | |||||||||||||||||||||||||||
| Basic | (0.16) | 0.03 | |||||||||||||||||||||||||
| Diluted | (0.16) | 0.03 | |||||||||||||||||||||||||
| Total comprehensive income (expense) | (1 328 599) | 263 342 | |||||||||||||||||||||||||
| Attributable to: | |||||||||||||||||||||||||||
| Equity holders of a parent company | (1 328 599) | 263 342 | |||||||||||||||||||||||||
| Minority interest | - | - | |||||||||||||||||||||||||
|
Natālija Petrova
Member of the Board t. 65404420, petrova@dlrz.lv |
