Latvia is a small, open economy with exports contributing
nearly a third of GDP. Due to its geographical location, transit services are
highly-developed, along with timber and wood-processing, agriculture and food products,
and manufacturing of machinery and electronics industries. Corruption continues
to be an impediment to attracting foreign direct investment and Latvia's low
birth rate and decreasing population are major challenges to its long-term
economic vitality. Latvia's economy experienced GDP growth of more than 10% per
year during 2006-07, but entered a severe recession in 2008 as a result of an
unsustainable current account deficit and large debt exposure amid the
softening world economy. Triggered by the collapse of the second largest bank,
GDP plunged 18% in 2009. The economy has not returned to pre-crisis levels
despite strong growth, especially in the export sector in 2011-14. The IMF, EU,
and other international donors provided substantial financial assistance to
Latvia as part of an agreement to defend the currency's peg to the euro in
exchange for the government's commitment to stringent austerity measures. The
IMF/EU program successfully concluded in December 2011. The majority of
companies, banks, and real estate have been privatized, although the state
still holds sizable stakes in a few large enterprises, including 99.8%
ownership of the Latvian national airline. Latvia officially joined the World
Trade Organization in February 1999 and the EU in May 2004. Latvia joined the
euro zone in 2014.
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Full Name
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:
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SIA "TOLMETS"
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IGK-number
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:
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039-398-603
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Name in English
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:
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"TOLMETS" Ltd.
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Name in national language
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:
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SIA "TOLMETS"
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Previous Names
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:
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-
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Sabiedriba ar ierobezotu atbildibu "TOLMETS"
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Office Address
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:
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Hika 5, Liepaja, Liepajas region, LV-3401, Latvia
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/In nat.lang.: Liepāja, Hika iela 5, LV-3401/
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( the data as of 12.12.2014 )
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Legal Address
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:
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Hika 5, Liepaja, Liepajas region, LV-3401, Latvia
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/In nat.lang.: Liepāja, Hika iela 5, LV-3401/
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Contacts
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:
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Summary
Legal Form
: SIA (Ltd by Latvian law)
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Incorporation : 1999
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Staff : 111
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Litigation events : yes
Remarks on payments
: yes
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Sales :
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104 397 367.00 LVL ( for 12 months, ended 31.12.2013 )
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117 877 587.00 LVL ( for 12 months, ended 31.12.2012 )
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Incorporation
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:
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1999
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Registration Data
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Date of registration
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:
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19.08.2003
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Registration number
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42103022610
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Registr. authority
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:
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Commercial Register (Latvia)
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VAT number
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:
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LV42103022610
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Registr. authority
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:
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Tax Board (Latvia)
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Legal Form
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:
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SIA (Ltd by Latvian law)
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since 01.12.1999
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Share Capital
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:
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200 000 LVL (registered)
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since 17.05.2005
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Shareholders
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:
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-
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Mr Carkovs, Vladimirs (Latvia)
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48.00 %
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address
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:
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Turaidas iela 18-37, Liepaja, Liepajas region, Latvia
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-
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Mr Homutovs, Jurijs (Latvia)
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48.00 %
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address
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:
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Vergales iela 4-14, Liepaja, Liepajas region, Latvia
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-
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Mr Ivanovs, Roberts (Latvia)
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4.00 %
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address
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:
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Ugales iela 1/3-44, Liepaja, Liepajas region, Latvia
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-
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PIONEER IMPORTS LLC SABIEDRIBA AR IEROBEZOTU ATBILDIBU (United
States of America)
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100.00 %
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reg. number
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:
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007008908
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address
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:
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101 South Spring, Suite 220, Little Rock, AR 72201, United States of
America
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( the data cancelled since 06.10.2006 )
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-
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Mr Mitencovs, Igors (Latvia)
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100.00 %
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address
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:
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Rojas iela 5-39, Liepaja, Liepajas region, Latvia
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( the data cancelled since 08.11.2002 )
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Board
/ Executives
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Executives
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Board Chairman
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:
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Mr Ozolina, Inta (Latvia)
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address: Ronu iela 5-53, Liepaja, Liepajas region, Latvia
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Board Member
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:
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Mrs Geraskina, Jelena (Latvia)
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address: Dzintaru iela 86-17, Liepaja, Liepajas region, Latvia
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Board Member
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:
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Mr Ivanovs, Roberts (Latvia)
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address: Ugales iela 1/3-44, Liepaja, Liepajas region, Latvia
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Chief Accountant
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:
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Mrs Geraskina, Jelena (Latvia)
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address: Dzintaru iela 86-17, Liepaja, Liepajas region, Latvia
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Economist
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:
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Mr Markovskis, Dajnis (Latvia)
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Authorised signature
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:
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Mrs Geraskina, Jelena
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Mrs Geraskina, Jelena
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Mr Ivanovs, Roberts
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Mr Ozolina, Inta
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Changes
in Registration Data
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- 19.02.2010
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:
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- 04.11.2008
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:
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- 05.08.2008
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:
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- 04.12.2007
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:
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- 06.10.2006
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:
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- 21.11.2005
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:
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- 23.09.2005
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:
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- 17.05.2005
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:
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share capital, shareholders
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- 18.03.2005
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:
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name, legal address, managers
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obsolete legal address: Liepaja, Hikes iela 5; historical name:
Sabiedriba ar ierobezotu atbildibu "TOLMETS"
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- 19.08.2003
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:
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share capital, shareholders
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- 12.12.2002
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:
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obsolete legal address: Liepaja, Rojas iela 5-39
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- 08.11.2002
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:
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Activities
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:
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-
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5051
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Iron & Steel Products
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(5152 / NACE_1.1: Wholesale of metals and metal ores)
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(4672 / NACE_2: Wholesale of metals and metal ores)
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processing of metal scrap; production of steel products; trade in
steel goods
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Staff employed
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:
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111
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( the data as of 31.12.2014 )
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Staff History
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:
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-
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114
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( the data as of 12.12.2014 )
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-
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114
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( the data as of 30.09.2014 )
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-
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117
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( the data as of 29.04.2013 )
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-
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114
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( the data as of 31.12.2012 )
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-
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121
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( the data as of 31.12.2011 )
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-
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116
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( the data as of 31.12.2010 )
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-
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95
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( the data as of 31.12.2009 )
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Export
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- 2012
|
:
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Turkey, China Peoples Republic, Hong Kong,
India
Turkey (70% of export); In 2012 export was 98% of total turnover
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Import
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- 2012
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:
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Lithuania, Estonia
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Facilities
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:
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unknown ownership:
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-
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Other tools & equipment - Transport vehicle
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quantity
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:
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82.00 unit(s)
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Branches
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:
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-
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Branch (Riga, Rigas region, Latvia)
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name
|
:
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Tolmets production
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address
|
:
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Granita 13a, Riga, Rigas region, LV-1057, Latvia
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Tel.: 67250823
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There is representation office in Estonia.
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Subsidiaries and Participation
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:
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n/a
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Bankers
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:
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Current data is not available, information as known as for 2013:
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-
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DANSKE BANK
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SEB Latvijas Unibanka (Latvia)
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account(s)
|
:
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LV53UNLA0050005135465
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Clients
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:
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Current data is not available, information as known as for 2013:
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Sell por a partial prepayment, or the bank guarantee. Payment occur without
delays. Company doesn't use credit risk insurance.
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Suppliers
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:
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Current data is not available, information as known as for 2013:
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Average number: over 50. Estonia: Tolmet Eesti; Tolmetex; Tolmet Tallinn;
Lithuania: Tolmeta; Latvia: SIA Latmetals; SIA Grobinas metals; SIA Fero M;
SIA KB-Met; SIA Ameteks. They sell on a part-payment.
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Other associated Companies
|
:
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Current data is not available, information as known as for 2013:
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According to company's administrator words, there are no related
companies.
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Litigation
|
:
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The subject company has been noted as a claimant and defendant in some
litigations dated from 15.02.2011 to 21.11.2014 (last court sitting). There
are no bankruptcy/insolvency listed in the subject name in the official
sources.
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Remarks on payment
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- 20.03.2007
|
:
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Debt collection (confirmed)
|
0.00 LVL
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payment status
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:
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complete
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/debt's range: 100-1000 LVL, debt's status: closed, paid/
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( the data as of 20.03.2007, cancelled since 29.10.2007 )
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There are no more other on unpaid invoices/defaulted payments noted by
local debt collection companies.
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Business
mortgages
|
|
- 20.03.2015
|
:
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Commercial
pledge
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pledgee
|
:
|
Danske Bank,
A/S
reg. number: 61126228
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- 18.03.2015
|
:
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Commercial
pledge
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pledgee
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:
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Danske Bank,
A/S
reg. number: 61126228
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- 15.01.2014
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:
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Commercial
pledge
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pledgee
|
:
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Danske Bank
reg. number: 61126228
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( the data as of
12.12.2014, cancelled since 20.03.2015 )
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- 04.07.2013
|
:
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Commercial
pledge
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pledgee
|
:
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SEB banka (Latvia)
reg. number: 40003151743
address: Meistaru 1, Kekavas pagasts, Valdlauci, Rigas region, LV-1076,
Latvia
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- 02.07.2013
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:
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Commercial
pledge
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pledgee
|
:
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SEB banka (Latvia)
reg. number: 40003151743
address: Meistaru 1, Kekavas pagasts, Valdlauci, Rigas region, LV-1076,
Latvia
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- 06.02.2013
|
:
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Commercial
pledge
|
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pledgee
|
:
|
SEB banka, AS (Latvia)
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( the data as of
30.04.2013, cancelled since 04.07.2013 )
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- 15.04.2011
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:
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Commercial
pledge
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pledgee
|
:
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SEB banka, AS (Latvia)
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|
( the data as of
01.08.2012, cancelled since 12.12.2014 )
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|
- 17.03.2011
|
:
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Commercial
pledge
|
|
pledgee
|
:
|
SEB banka (Latvia)
reg. number: 40003151743
address: Meistaru 1, Kekavas pagasts, Valdlauci, Rigas region, LV-1076,
Latvia
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- 01.09.2010
|
:
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Commercial
pledge
|
|
pledgee
|
:
|
SEB banka (Latvia)
reg. number: 40003151743
address: Meistaru 1, Kekavas pagasts, Valdlauci, Rigas region, LV-1076,
Latvia
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- 01.06.2010
|
:
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Commercial
pledge
|
|
pledgee
|
:
|
SEB lizings
SIA (Latvia)
|
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( the data as of
16.12.2011, cancelled since 19.07.2013 )
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Financial
Elements
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Period, months
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12
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12
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12
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Ended
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31.12.2013
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31.12.2012
|
|
31.12.2011
|
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Currency
|
LVL
|
|
LVL
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LVL
|
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===== BALANCE
SHEET ====================
|
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--- A S S E T S
--------------------
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NON-CURRENT ASSETS
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- Intangible assets
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261 233.00
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140 115.00
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46 424.00
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- Fixed assets
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10 773 768.00
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12 251 478.00
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14 040 739.00
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- Investments in tangible assets
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1 789 240.00
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1 574 409.00
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- Financial assets
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1 591 861.00
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1 523 433.00
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1 330 818.00
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- Other non-current assets
|
|
|
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Non-current assets total
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14 416 102.00
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15 489 435.00
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15 417 981.00
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CURRENT ASSETS
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- Stock
|
18 893 103.00
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14 069 921.00
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12 926 669.00
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- Debtors
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8 187 310.00
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3 885 737.00
|
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5 146 877.00
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- Other receivables
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- Short-term financial investments
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10 392.00
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|
10 392.00
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10 392.00
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- Cash
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2 604 078.00
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113 483.00
|
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54 478.00
|
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- Other current assets
|
|
|
|
|
|
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Current assets total
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29 694 883.00
|
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18 079 533.00
|
|
18 138 416.00
|
|
|
|
|
|
|
|
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Assets total
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44 110 985.00
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33 568 968.00
|
|
33 556 397.00
|
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|
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--- EQUITY AND LIABILITIES
---------
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CAPITAL AND RESERVES
|
|
|
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- Share capital
|
200 000.00
|
|
200 000.00
|
|
200 000.00
|
|
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- Additional capital
|
|
|
|
|
|
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- Other capital
|
|
|
|
|
|
|
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- Reserve capital
|
0.00
|
|
703 009.00
|
|
709 144.00
|
|
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- Retained earnings (Non-covered loss)
|
12 026 571.00
|
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10 076 241.00
|
|
9 135 836.00
|
|
|
Capital and reserves total
|
12 226 571.00
|
|
10 979 250.00
|
|
10 044 980.00
|
|
|
|
|
|
|
|
|
|
|
Provisions
|
152 164.00
|
|
130 621.00
|
|
91 078.00
|
|
|
|
|
|
|
|
|
|
|
LONG-TERM LIABILITIES
|
|
|
|
|
|
|
|
- Loans and credits
|
11 255 105.00
|
|
12 416 860.00
|
|
13 106 873.00
|
|
|
- long-term amounts owed to
banks
|
3 407 902.00
|
|
4 189 613.00
|
|
4 433 242.00
|
|
|
- Other long-term liabilities
|
1 553 061.00
|
|
1 581 085.00
|
|
857 929.00
|
|
|
Long-term liabilities total
|
12 808 166.00
|
|
13 997 945.00
|
|
13 964 802.00
|
|
|
|
|
|
|
|
|
|
|
SHORT-TERM LIABILITIES
|
|
|
|
|
|
|
|
- Loans and credits
|
16 874 204.00
|
|
6 035 126.00
|
|
5 570 161.00
|
|
|
- short-term amounts owed to
banks
|
16 827 684.00
|
|
5 956 735.00
|
|
5 494 476.00
|
|
|
- Creditors
|
1 842 290.00
|
|
1 904 443.00
|
|
2 935 888.00
|
|
|
- trade debts
|
1 511 810.00
|
|
1 805 407.00
|
|
1 581 111.00
|
|
|
- accrued payroll
|
|
|
|
|
|
|
|
- tax liabilities
|
257 838.00
|
|
19 854.00
|
|
491.00
|
|
|
- other creditors
|
72 642.00
|
|
57 145.00
|
|
91 250.00
|
|
|
- advances received
|
0.00
|
|
22 037.00
|
|
1 263 036.00
|
|
|
- Dividends in arrears
|
|
|
|
|
|
|
|
- Accrued income, deferred charges
|
207 590.00
|
|
521 583.00
|
|
949 488.00
|
|
|
- Other short-term liabilities
|
|
|
|
|
|
|
|
Short-term liabilities total
|
18 924 084.00
|
|
8 461 152.00
|
|
9 455 537.00
|
|
|
|
|
|
|
|
|
|
|
Liabilities total
|
31 732 250.00
|
|
22 459 097.00
|
|
23 420 339.00
|
|
|
Equity and liabilities total
|
44 110 985.00
|
|
33 568 968.00
|
|
33 556 397.00
|
|
|
|
|
|
|
|
|
|
|
===== PROFIT AND
LOSS ACCOUNT ==========
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ORDINARY ACTIVITY INCOME AND CHARGES
|
|
|
|
|
|
|
|
Net sales
|
104 397 367.00
|
|
117 877 587.00
|
|
110 551 427.00
|
|
|
Cost of goods sold
|
90 513 255.00
|
|
105 209 115.00
|
|
-97 171 991.00
|
|
|
Gross profit
|
13 884 112.00
|
|
12 668 472.00
|
|
13 379 436.00
|
|
|
Distribution costs
|
9 757 204.00
|
|
10 800 740.00
|
|
-9 945 946.00
|
|
|
Administrative and management costs
|
961 343.00
|
|
743 819.00
|
|
-842 300.00
|
|
|
Profit on sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATING INCOME AND CHARGES
|
|
|
|
|
|
|
|
Interest receivable
|
592.00
|
|
952.00
|
|
715.00
|
|
|
Interest payable
|
310 951.00
|
|
438 908.00
|
|
-457 877.00
|
|
|
Income from participating interests
|
11 600.00
|
|
188 278.00
|
|
|
|
|
Other operating income
|
44 664.00
|
|
1 330 972.00
|
|
796 785.00
|
|
|
Other operating charges
|
643 700.00
|
|
1 091 457.00
|
|
-251 188.00
|
|
|
Operating profit
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INVESTMENT INCOME AND CHARGES
|
|
|
|
|
|
|
|
Investment income less charges
|
-1 261.00
|
|
-52 306.00
|
|
0.00
|
|
|
|
|
|
|
|
|
|
|
Profit before taxation
|
2 266 509.00
|
|
1 061 444.00
|
|
2 679 625.00
|
|
|
Income-tax and other similar payments
|
316 179.00
|
|
121 040.00
|
|
-90 202.00
|
|
|
Profit (loss) from ordinary activity
|
|
|
|
|
|
|
|
Extraordinary income less charges
|
|
|
|
|
|
|
|
Net profit
|
1 950 330.00
|
|
940 404.00
|
|
2 329 777.00
|
|
|
|
|
|
|
|
|
|
|
|
- - - - - - - KEY RATIOS - - - - - - -
|
|
|
|
|
|
|
|
Return on sales, %
|
2.17
|
|
0.90
|
|
2.42
|
|
|
Profit before taxation / Net
sales
|
|
|
|
|
|
|
|
Operating margin of profit, %
|
|
|
|
|
|
|
|
Operating profit / Net sales
|
|
|
|
|
|
|
|
Return on investment, %
|
18.54
|
|
9.67
|
|
26.68
|
|
|
Profit before taxation /
Equity
|
|
|
|
|
|
|
|
Current assets turnover
|
3.52
|
|
6.52
|
|
6.09
|
|
|
Net sales / Current assets
|
|
|
|
|
|
|
|
Working capital
|
10 770 799.00
|
|
9 618 381.00
|
|
8 682 879.00
|
|
|
Current assets - Short-term
liabilities
|
|
|
|
|
|
|
|
Leverage
|
0.28
|
|
0.33
|
|
0.30
|
|
|
Equity / Total assets
|
|
|
|
|
|
|
|
Current ratio
|
1.57
|
|
2.14
|
|
1.92
|
|
|
Current assets / Short-term
liabilities
|
|
|
|
|
|
|
|
Quick ratio
|
0.57
|
|
0.47
|
|
0.55
|
|
|
(Current assets - Stock) /
Short-term liabilities
|
|
|
|
|
|
|
|
Debt-to-equity ratio
|
2.60
|
|
2.05
|
|
2.33
|
|
|
Total liabilities / Equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Publications
|
|
- 20.04.2011
|
:
|
|
Subject
|
:
|
www.rus.delfi.lv
|
|
|
|
|
|
SEB banka has provided a 2,5 mill EUR loan to metal processing enterprise
Tolmets...
|
|
|
|
|
|
- 0001
|
:
|
|
Subject
|
:
|
Environmental care
|
|
|
|
|
|
From company's website: Recycling metal is one of the main ways of
preserving the environment and efficient use of natural resources. TOLMETS uses
technologies for metal recycling that help maintain the level of
environmental pollution. The company invested a considerable amount of
financial resources in development and introduction of these technologies.
TOLMETS cooperates with state and public environmental organizations in
order to contribute to environmental protection. TOLMETS uses modern
shredding equipment that automatically shreds scrap metal and removes any
contamination. According to expert check results, TOLMETS shredding
equipment meets the highest environmental requirements. The territory the
equipment complex is located at is covered with a coating that prevents
subsoil water pollution. Discharged water is contained in water shafts.
TOLMETS utilizes used automobiles and electric appliances. Automobile and
appliance utilization is a thoroughly carried process and is safe for the
environment. In the process, automobile fuels and lubricants as well as
braking fluid and window cleanser are removed and further recycled.
Accumulators are transported to accumulator factories for recycling.
Shredded tires are further used as a component in roadway paving or sealing
material production. Pieces of ferrous and nonferrous metal are sorted and
melted.
|
|
|
|
|
|
- 0001
|
:
|
|
Subject
|
:
|
Company development
|
|
|
|
|
|
From company's website: Nevertheless TOLMETS is one of the biggest
metal recycling companies in the Baltic States, it is constantly developing
and seeking for new partners both within and outside the Baltics. The company
leaders are always willing to negotiate a potential partnership. The
company is oriented at favorable framework conditions for both parties,
strict observance of obligations, and optimal solutions to tasks. This is
the reason TOLMETS has a reputation of a stable enterprise and a
trustworthy partner that has the potential for further development, which
is confirmed by the increased purchase and recycling of ferrous and
nonferrous metals. TOLMETS cooperates with other companies in Spain,
Germany, the Netherlands, Switzerland, Turkey, and in some countries in
Southeast Asia. Flexible pricing policy, innovative approach to business
management, and effective use of modern technologies help TOLMETS gain new
partners and be confident about company’s future.
|
|
|
|
|
|
- 0001
|
:
|
|
|
From company's website: ounded in 1999, TOLMETS is now holding a
leading position in scrap metal recycling business. Company turnover has multiplied
a thousand-fold for the last decade due to efficient management, smart
investment and the use modern technology. Company achievements have been
marked by a leading Latvian business newspaper ‘Dienas bizness’ and TOLMETS
has held a position of ‘The most rapidly growing company in Kurzeme’ for
two years. From 2010, TOLMETS was listed in TOP 500 companies in Latvia.
TOLMETS is the third company in the list that has the largest turnover per
one employee, the sixth most profitable company and the twenty third
company that has the largest net turnover. The company is one of the
biggest tax-payers in Latvia. Review of year 2011 states a EUR 157,30M
turnover, a EUR 3,31M net profit. Review of year 2012 states a EUR 167,73M
turnover, a EUR 1,39M net profit. Review of year 2013 states a EUR 148,54M
turnover, a EUR 2,78M net profit.
|
|
|
|
|
|
FINAL
COMMENTS
|
|
Mrs Inta Ozolina and Jelena Geraskina refused to provide us with any
information.
|
|
|
|
|
|
Registration
History
|
|
- 01.12.1999
|
:
|
|
Registration number
|
:
|
210302261
|
|
Registr. authority
|
:
|
State Register (Latvia)
|
|
|
|
|
|
|
( the data as of 01.12.1999, cancelled since 19.08.2003 )
|
|
|
Capital History
|
|
|
|
- date n/a
|
:
|
75 000 LVL (registered)
|
|
|
( the data cancelled since 17.05.2005 )
|
|
|
APPENDIX A
|
|
|
|
|
Financial
Statements
|
|
|
Period, months
|
12
|
|
12
|
|
12
|
|
|
Ended
|
31.12.2013
|
|
31.12.2012
|
|
31.12.2011
|
|
|
Currency
|
LVL
|
|
LVL
|
|
LVL
|
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
010 Net turnover
|
104 397 367.00
|
|
117 877 587.00
|
|
|
|
|
020 Cost of sales
|
-90 513 255.00
|
|
-105 209 115.00
|
|
|
|
|
025 Change in stock, finished and semi-finished goods
|
|
|
|
|
|
|
|
030 Gross profit or loss
|
13 884 112.00
|
|
12 668 472.00
|
|
|
|
|
035 Facilities produced at the expense of own funds for internal use
|
|
|
|
|
|
|
|
040 Distribution costs
|
-9 757 204.00
|
|
-10 800 740.00
|
|
|
|
|
050 Administrative expenses
|
-961 343.00
|
|
-743 819.00
|
|
|
|
|
060 Other operating income
|
44 664.00
|
|
1 330 972.00
|
|
|
|
|
062 Economical expenses
|
|
|
|
|
|
|
|
064 Gross profit or loss
|
|
|
|
|
|
|
|
065 Administrative charges
|
|
|
|
|
|
|
|
067 Depreciation of fixed assets
|
|
|
|
|
|
|
|
068 Other operating expenses
|
-643 700.00
|
|
-1 091 457.00
|
|
|
|
|
070 Income from participating interests
|
11 600.00
|
|
188 278.00
|
|
|
|
|
|
|
|
|
|
|
|
080 Income from securities and loans forming long-term
|
|
|
|
|
|
|
|
investments
|
|
|
|
|
|
|
|
090 Other interest receivable and similar income
|
592.00
|
|
952.00
|
|
|
|
|
100 Value adjustments in respect of financial assets and
|
-1 261.00
|
|
-52 306.00
|
|
|
|
|
of investments held as
current assets
|
|
|
|
|
|
|
|
110 Interest payable and similar charges
|
-310 951.00
|
|
-438 908.00
|
|
|
|
|
120 Profit or loss on ordinary activities before taxation
|
2 266 509.00
|
|
1 061 444.00
|
|
|
|
|
|
|
|
|
|
|
|
130 Extraordinary income
|
|
|
|
|
|
|
|
140 Extraordinary charges
|
|
|
|
|
|
|
|
150 Extraordinary profit or loss before taxation
|
|
|
|
|
|
|
|
151 Profit or loss before taxation
|
2 266 509.00
|
|
1 061 444.00
|
|
|
|
|
160 Income-tax for fiscal period
|
-291 510.00
|
|
-59 948.00
|
|
|
|
|
170 Other taxes
|
-15 002.00
|
|
-14 967.00
|
|
|
|
|
175 Deferred Income-tax for fiscal period
|
-9 667.00
|
|
-46 125.00
|
|
|
|
|
180 Profit or loss for fiscal period
|
1 950 330.00
|
|
940 404.00
|
|
|
|
|
995 Depreciation
|
|
|
|
|
|
|
|
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BALANCE SHEET
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
A S S E T S
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NON-CURRENT ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible assets
|
|
|
|
|
|
|
|
010 Cost of research and development
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
020 Concessions, patents, licences, brands, etc.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
021 Other intangible assets
|
261 233.00
|
|
140 115.00
|
|
|
|
|
030 Goodwill
|
|
|
|
|
|
|
|
040 Payments on account for intangible assets
|
|
|
|
|
|
|
|
050 Total intangible assets
|
261 233.00
|
|
140 115.00
|
|
|
|
|
|
|
|
|
|
|
|
Tangible assets
|
|
|
|
|
|
|
|
060 Real estate
|
2 692 009.00
|
|
3 426 414.00
|
|
|
|
|
061 Long-term investments in leased tangible assets
|
0.00
|
|
335.00
|
|
|
|
|
070 Plant and machinery
|
3 586 415.00
|
|
3 744 425.00
|
|
|
|
|
080 Other fixtures and fittings, tools and equipment
|
4 464 188.00
|
|
4 920 450.00
|
|
|
|
|
090 Payments on account and tangible assets in cours
|
12 917.00
|
|
45 578.00
|
|
|
|
|
of construction
|
|
|
|
|
|
|
|
091 Prepayment for tangible assets
|
18 239.00
|
|
114 276.00
|
|
|
|
|
100 Total tangible assets
|
10 773 768.00
|
|
12 251 478.00
|
|
|
|
|
|
|
|
|
|
|
|
III Investment property, total
|
1 789 240.00
|
|
1 574 409.00
|
|
|
|
|
|
|
|
|
|
|
|
107 Total biological assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial assets
|
|
|
|
|
|
|
|
110 Shares in subsidiaries
|
1 296 433.00
|
|
1 217 228.00
|
|
|
|
|
120 Loans to subsidiaries
|
8 705.00
|
|
19 097.00
|
|
|
|
|
130 Shares in related companies
|
|
|
|
|
|
|
|
140 Loans to related companies
|
|
|
|
|
|
|
|
150 Other securities and capital participation
|
50 000.00
|
|
50 000.00
|
|
|
|
|
160 Other loans
|
|
|
|
|
|
|
|
170 Own shares and parts
|
|
|
|
|
|
|
|
180 Loans to the members of the company and
|
|
|
|
|
|
|
|
the management
|
|
|
|
|
|
|
|
182 Trade debtors
|
|
|
|
|
|
|
|
184 Deferred income tax asset
|
236 723.00
|
|
237 108.00
|
|
|
|
|
190 Total financial assets
|
1 591 861.00
|
|
1 523 433.00
|
|
|
|
|
200 NON-CURRENT ASSETS TOTAL
|
14 416 102.00
|
|
15 489 435.00
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock
|
|
|
|
|
|
|
|
210 Raw materials and consumables
|
150 882.00
|
|
182 955.00
|
|
|
|
|
220 Work in progress
|
|
|
|
|
|
|
|
230 Finished goods and goods for resale
|
12 184 646.00
|
|
10 451 891.00
|
|
|
|
|
240 Orders outstanding
|
8 957.00
|
|
0.00
|
|
|
|
|
250 Payments on account
|
6 548 618.00
|
|
3 435 075.00
|
|
|
|
|
260 Working and productive animals
|
|
|
|
|
|
|
|
270 Total stock
|
18 893 103.00
|
|
14 069 921.00
|
|
|
|
|
|
|
|
|
|
|
|
275 LONG-TERM INVESTMENT ASSETS WITHHELD
|
|
|
|
|
|
|
|
FOR SALE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtors
|
|
|
|
|
|
|
|
280 Trade debtors
|
7 927 165.00
|
|
3 060 373.00
|
|
|
|
|
290 Amounts owed by subsidiaries
|
78 763.00
|
|
465 108.00
|
|
|
|
|
300 Amounts owed by related companies
|
|
|
|
|
|
|
|
310 Other debts
|
99 759.00
|
|
299 432.00
|
|
|
|
|
320 Subscribed capital called but not paid
|
|
|
|
|
|
|
|
330 Short-terms loans to the members of the company
|
|
|
|
|
|
|
|
and the management
|
|
|
|
|
|
|
|
335 Other loans
|
|
|
|
|
|
|
|
340 Prepayments and accrued
|
81 623.00
|
|
60 824.00
|
|
|
|
|
341 Accrued income
|
|
|
|
|
|
|
|
343 Deferred tax liabilities
|
|
|
|
|
|
|
|
350 Total debtors
|
8 187 310.00
|
|
3 885 737.00
|
|
|
|
|
|
|
|
|
|
|
|
Securities current assets
and short-term capital
|
|
|
|
|
|
|
|
participations
|
|
|
|
|
|
|
|
360 Shares in subsidiaries
|
|
|
|
|
|
|
|
370 Own shares and parts
|
|
|
|
|
|
|
|
380 Other securities and capital participation
|
10 392.00
|
|
10 392.00
|
|
|
|
|
385 Financial derivatives
|
|
|
|
|
|
|
|
390 Total securities and shares
|
10 392.00
|
|
10 392.00
|
|
|
|
|
|
|
|
|
|
|
|
400 Cash at bank and in hand (total)
|
2 604 078.00
|
|
113 483.00
|
|
|
|
|
410 CURRENT ASSETS TOTAL
|
29 694 883.00
|
|
18 079 533.00
|
|
|
|
|
420 BALANCE
|
44 110 985.00
|
|
33 568 968.00
|
|
|
|
|
|
|
|
|
|
|
|
L I A B I L I T I E S
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CAPITAL AND RESERVES
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
430 Share capital
|
200 000.00
|
|
200 000.00
|
|
|
|
|
440 Share premium account
|
|
|
|
|
|
|
|
450 Long-term assets revaluation reserve
|
0.00
|
|
703 009.00
|
|
|
|
|
Reserves
|
|
|
|
|
|
|
|
452 Financial instruments revaluation reserve
|
|
|
|
|
|
|
|
460 Reserve stipulated by law
|
|
|
|
|
|
|
|
470 Reserve for own shares and parts
|
|
|
|
|
|
|
|
480 Reserve provided by charter
|
|
|
|
|
|
|
|
490 Other reserves
|
|
|
|
|
|
|
|
500 Total reserves
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Retained earning or
uncovered losses
|
|
|
|
|
|
|
|
510 Profit or loss brought forward from previous years
|
10 076 241.00
|
|
9 135 837.00
|
|
|
|
|
520 Profit or loss for the current year
|
1 950 330.00
|
|
940 404.00
|
|
|
|
|
505 Equity, total
|
|
|
|
|
|
|
|
525 Consolidation margin
|
|
|
|
|
|
|
|
530 CAPITAL AND RESERVES TOTAL
|
12 226 571.00
|
|
10 979 250.00
|
|
|
|
|
|
|
|
|
|
|
|
PROVISIONS
|
|
|
|
|
|
|
|
540 Provisions for pensions and similar obligations
|
|
|
|
|
|
|
|
550 Provisions for taxation
|
0.00
|
|
25 330.00
|
|
|
|
|
560 Other provisions
|
152 164.00
|
|
105 291.00
|
|
|
|
|
561 Provisions for vacations
|
|
|
|
|
|
|
|
570 PROVISIONS TOTAL
|
152 164.00
|
|
130 621.00
|
|
|
|
|
|
|
|
|
|
|
|
CREDITORS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term liabilities
|
|
|
|
|
|
|
|
580 Debenture loans
|
|
|
|
|
|
|
|
590 Convertible loans
|
|
|
|
|
|
|
|
600 Amounts owed to credit institutions
|
3 407 902.00
|
|
4 189 613.00
|
|
|
|
|
601 Other loans
|
7 847 203.00
|
|
8 227 247.00
|
|
|
|
|
602 Advanced payments received
|
|
|
|
|
|
|
|
603 Trade debts
|
|
|
|
|
|
|
|
610 Amounts owed to subsidiaries
|
|
|
|
|
|
|
|
620 Amounts owed to related companies
|
|
|
|
|
|
|
|
621 Taxes and social security payments
|
|
|
|
|
|
|
|
630 Other creditors
|
639 340.00
|
|
0.00
|
|
|
|
|
631 Deferred income
|
0.00
|
|
677 031.00
|
|
|
|
|
632 Non-paid dividends of current year
|
|
|
|
|
|
|
|
633 Non-paid dividends of previous years
|
|
|
|
|
|
|
|
634 Deferred tax liabilities
|
913 721.00
|
|
904 054.00
|
|
|
|
|
635 Accrued liabilities
|
|
|
|
|
|
|
|
636 Leasing liabilities
|
|
|
|
|
|
|
|
640 Total long-term liabilities
|
12 808 166.00
|
|
13 997 945.00
|
|
|
|
|
|
|
|
|
|
|
|
Short-term liabilities
|
|
|
|
|
|
|
|
650 Debenture loans
|
|
|
|
|
|
|
|
660 Convertible loans
|
|
|
|
|
|
|
|
670 Amounts owed to credit institutions
|
16 827 684.00
|
|
5 956 735.00
|
|
|
|
|
671 Other loans
|
46 520.00
|
|
78 391.00
|
|
|
|
|
680 Advanced payments received
|
0.00
|
|
22 037.00
|
|
|
|
|
690 Trade debts
|
1 511 810.00
|
|
1 805 407.00
|
|
|
|
|
700 Bills of exchange payable
|
|
|
|
|
|
|
|
710 Amounts owed to subsidiaries
|
|
|
|
|
|
|
|
720 Amounts owed to related companies
|
|
|
|
|
|
|
|
730 Taxes and social security payments
|
257 838.00
|
|
19 854.00
|
|
|
|
|
740 Other creditors
|
72 642.00
|
|
57 145.00
|
|
|
|
|
750 Deferred income
|
37 608.00
|
|
37 526.00
|
|
|
|
|
760 Fiscal period dividends
|
|
|
|
|
|
|
|
770 Non-paid dividends of previous years
|
|
|
|
|
|
|
|
771 Accrued charges
|
169 982.00
|
|
484 057.00
|
|
|
|
|
773 Deferred tax liabilities
|
|
|
|
|
|
|
|
774 Obligations for state funds exploitation
|
|
|
|
|
|
|
|
775 Alienated financial instruments
|
|
|
|
|
|
|
|
776 Leasing obligations
|
|
|
|
|
|
|
|
995 Depreciation
|
|
|
|
|
|
|
|
780 Total short-term liabilities
|
18 924 084.00
|
|
8 461 152.00
|
|
|
|
|
790 CREDITORS TOTAL
|
31 732 250.00
|
|
22 459 097.00
|
|
|
|
|
800 BALANCE
|
44 110 985.00
|
|
33 568 968.00
|
|
|
|
|
990 Employees number
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- 31.12.2011
|
:
|
|
Fiscal period: 12 month(s), currency: LVL
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
|
|
|
|
|
010 Net turnover
|
110 551 427.00
|
|
|
020 Cost of sales
|
-97 171 991.00
|
|
|
025 Change in stock, finished and semi-finished goods
|
|
|
|
030 Gross profit or loss
|
13 379 436.00
|
|
|
035 Facilities produced at the expense of own funds for internal use
|
|
|
|
040 Distribution costs
|
-9 945 946.00
|
|
|
050 Administrative expenses
|
-842 300.00
|
|
|
060 Other operating income
|
796 785.00
|
|
|
062 Economical expenses
|
|
|
|
064 Gross profit or loss
|
|
|
|
065 Administrative charges
|
|
|
|
067 Depreciation of fixed assets
|
|
|
|
068 Other operating expenses
|
-251 188.00
|
|
|
070 Income from participating interests
|
|
|
|
|
|
|
080 Income from securities and loans forming long-term
|
0.00
|
|
|
investments
|
|
|
|
090 Other interest receivable and similar income
|
715.00
|
|
|
100 Value adjustments in respect of financial assets and
|
|
|
|
of investments held as
current assets
|
|
|
|
110 Interest payable and similar charges
|
-457 877.00
|
|
|
120 Profit or loss on ordinary activities before taxation
|
2 679 625.00
|
|
|
|
|
|
130 Extraordinary income
|
|
|
|
140 Extraordinary charges
|
|
|
|
150 Extraordinary profit or loss before taxation
|
|
|
|
151 Profit or loss before taxation
|
2 679 625.00
|
|
|
160 Income-tax for fiscal period
|
-209 367.00
|
|
|
170 Other taxes
|
-10 658.00
|
|
|
175 Deferred Income-tax for fiscal period
|
-129 823.00
|
|
|
180 Profit or loss for fiscal period
|
2 329 777.00
|
|
|
995 Depreciation
|
|
|
|
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
|
|
|
|
|
|
|
BALANCE SHEET
|
|
|
|
|
|
|
A S S E T S
|
|
|
|
|
|
|
NON-CURRENT ASSETS
|
|
|
|
|
|
|
Intangible assets
|
|
|
|
010 Cost of research and development
|
|
|
|
|
|
|
020 Concessions, patents, licences, brands, etc.
|
|
|
|
|
|
|
021 Other intangible assets
|
|
|
|
030 Goodwill
|
|
|
|
040 Payments on account for intangible assets
|
46 424.00
|
|
|
050 Total intangible assets
|
46 424.00
|
|
|
|
|
|
Tangible assets
|
|
|
|
060 Real estate
|
4 653 313.00
|
|
|
061 Long-term investments in leased tangible assets
|
3 579.00
|
|
|
070 Plant and machinery
|
4 783 236.00
|
|
|
080 Other fixtures and fittings, tools and equipment
|
4 533 087.00
|
|
|
090 Payments on account and tangible assets in cours
|
46 740.00
|
|
|
of construction
|
|
|
|
091 Prepayment for tangible assets
|
20 784.00
|
|
|
100 Total tangible assets
|
14 040 739.00
|
|
|
|
|
|
III Investment property, total
|
|
|
|
|
|
|
107 Total biological assets
|
|
|
|
|
|
|
Financial assets
|
|
|
|
110 Shares in subsidiaries
|
1 251 329.00
|
|
|
120 Loans to subsidiaries
|
29 489.00
|
|
|
130 Shares in related companies
|
|
|
|
140 Loans to related companies
|
|
|
|
150 Other securities and capital participation
|
50 000.00
|
|
|
160 Other loans
|
|
|
|
170 Own shares and parts
|
|
|
|
180 Loans to the members of the company and
|
|
|
|
the management
|
|
|
|
182 Trade debtors
|
|
|
|
184 Deferred income tax asset
|
|
|
|
190 Total financial assets
|
1 330 818.00
|
|
|
200 NON-CURRENT ASSETS TOTAL
|
15 417 981.00
|
|
|
|
|
|
CURRENT ASSETS
|
|
|
|
|
|
|
Stock
|
|
|
|
210 Raw materials and consumables
|
13 132.00
|
|
|
220 Work in progress
|
1 667 133.00
|
|
|
230 Finished goods and goods for resale
|
8 896 313.00
|
|
|
240 Orders outstanding
|
|
|
|
250 Payments on account
|
2 350 091.00
|
|
|
260 Working and productive animals
|
|
|
|
270 Total stock
|
12 926 669.00
|
|
|
|
|
|
275 LONG-TERM INVESTMENT ASSETS WITHHELD
|
|
|
|
FOR SALE
|
|
|
|
|
|
|
Debtors
|
|
|
|
280 Trade debtors
|
3 898 544.00
|
|
|
290 Amounts owed by subsidiaries
|
373 554.00
|
|
|
300 Amounts owed by related companies
|
|
|
|
310 Other debts
|
706 460.00
|
|
|
320 Subscribed capital called but not paid
|
|
|
|
330 Short-terms loans to the members of the company
|
|
|
|
and the management
|
|
|
|
340 Prepayments and accrued
|
168 319.00
|
|
|
341 Accrued income
|
|
|
|
343 Deferred tax liabilities
|
|
|
|
350 Total debtors
|
5 146 877.00
|
|
|
|
|
|
Securities current assets
and short-term capital
|
|
|
|
participations
|
|
|
|
360 Shares in subsidiaries
|
|
|
|
370 Own shares and parts
|
|
|
|
380 Other securities and capital participation
|
10 392.00
|
|
|
385 Financial derivatives
|
|
|
|
390 Total securities and shares
|
10 392.00
|
|
|
|
|
|
400 Cash at bank and in hand (total)
|
54 478.00
|
|
|
410 CURRENT ASSETS TOTAL
|
18 138 416.00
|
|
|
420 BALANCE
|
33 556 397.00
|
|
|
|
|
|
L I A B I L I T I E S
|
|
|
|
|
|
|
CAPITAL AND RESERVES
|
|
|
|
|
|
|
430 Share capital
|
200 000.00
|
|
|
440 Share premium account
|
|
|
|
450 Long-term assets revaluation reserve
|
709 144.00
|
|
|
Reserves
|
|
|
|
452 Financial instruments revaluation reserve
|
|
|
|
460 Reserve stipulated by law
|
|
|
|
470 Reserve for own shares and parts
|
|
|
|
480 Reserve provided by charter
|
|
|
|
490 Other reserves
|
|
|
|
500 Total reserves
|
|
|
|
|
|
|
Retained earning or
uncovered losses
|
|
|
|
510 Profit or loss brought forward from previous years
|
6 806 059.00
|
|
|
520 Profit or loss for the current year
|
2 329 777.00
|
|
|
505 Equity, total
|
|
|
|
525 Consolidation margin
|
|
|
|
530 CAPITAL AND RESERVES TOTAL
|
10 044 980.00
|
|
|
|
|
|
PROVISIONS
|
|
|
|
540 Provisions for pensions and similar obligations
|
|
|
|
550 Provisions for taxation
|
17 681.00
|
|
|
560 Other provisions
|
73 397.00
|
|
|
570 PROVISIONS TOTAL
|
91 078.00
|
|
|
|
|
|
CREDITORS
|
|
|
|
|
|
|
Long-term liabilities
|
|
|
|
580 Debenture loans
|
|
|
|
590 Convertible loans
|
|
|
|
600 Amounts owed to credit institutions
|
4 433 242.00
|
|
|
601 Other loans
|
8 673 631.00
|
|
|
602 Advanced payments received
|
|
|
|
603 Trade debts
|
|
|
|
610 Amounts owed to subsidiaries
|
|
|
|
620 Amounts owed to related companies
|
|
|
|
621 Taxes and social security payments
|
|
|
|
630 Other creditors
|
|
|
|
631 Deferred income
|
|
|
|
632 Non-paid dividends of current year
|
|
|
|
633 Non-paid dividends of previous years
|
|
|
|
634 Deferred tax liabilities
|
857 929.00
|
|
|
640 Total long-term liabilities
|
13 964 802.00
|
|
|
|
|
|
Short-term liabilities
|
|
|
|
650 Debenture loans
|
|
|
|
660 Convertible loans
|
|
|
|
670 Amounts owed to credit institutions
|
5 494 476.00
|
|
|
671 Other loans
|
75 685.00
|
|
|
680 Advanced payments received
|
1 263 036.00
|
|
|
690 Trade debts
|
1 581 111.00
|
|
|
700 Bills of exchange payable
|
|
|
|
710 Amounts owed to subsidiaries
|
28 621.00
|
|
|
720 Amounts owed to related companies
|
|
|
|
730 Taxes and social security payments
|
491.00
|
|
|
740 Other creditors
|
62 629.00
|
|
|
750 Deferred income
|
752 083.00
|
|
|
760 Fiscal period dividends
|
|
|
|
770 Non-paid dividends of previous years
|
|
|
|
771 Accrued charges
|
197 405.00
|
|
|
773 Deferred tax liabilities
|
|
|
|
774 Obligations for state funds exploitation
|
|
|
|
775 Alienated financial instruments
|
|
|
|
995 Depreciation
|
|
|
|
780 Total short-term liabilities
|
9 455 537.00
|
|
|
790 CREDITORS TOTAL
|
23 420 339.00
|
|
|
800 BALANCE
|
33 556 397.00
|
|
|
990 Employees number
|
|
|
|
|
|
|
|
|