Siguldas CMAS JSC Audited Annual Report for 2023

The Company’s net turnover in 2023 was 1.5 million euros, which is by 20 thousand euros or 1.3% less than in 2022.

The proportionality of the income from the basic occupation has slightly changed compared to 2022 – the income from the sale of breeding bull semen has increased and accounted for 63.8% of the net turnover, while the income from the services of milk analysis and monitoring data processing has decreased - they totaled 22.7% from net turnover.

2023 ended with a profit of 65 thousand euros. Compared to 2022, the profit before taxes for the reporting year has decreased by 78 thousand euros, which was mainly caused by the decrease in net turnover and the increase in material costs, as well as the valuation of the investment property.

During the reporting period, the Company has received a new laboratory equipment – a milk analyzer with equipment – as a financial lease for five years.

JSC ‘Siguldas ciltslietu un mākslīgās apsēklošanas stacija’ is one of the largest high-quality breeding bull semen producers and suppliers in Latvia. The second largest field of the Company’s basic economic activities is milk testing services. The Company also provides other breeding related services – consultations on issues of cattle breeding, feeding and keeping, evaluation of cow exterior, artificial insemination of cows, initial processing of the monitoring data.

Valda Mālniece

Member of the Management Board, Manager of the Financial and Accounting department

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