24.08.2016, 15:34
"Daugavpils Lokomotivju Remonta Rupnica" Interim Report of 6M 2016
OREANDA-NEWS. JSC "Daugavpils Lokomotīvju Remonta Rūpnīca" Unaudited Consolidated Interim Report of 6 months 2016
During the 6 month period in 2016 the consolidated net turnover of the Group amounted to 6.2 million EUR (1 % decrease in comparison with net turnover in the relevant period in 2015).
The Group completed the 6 month period in 2016 with a loss of 1,46 million EUR. During the accounting period the Group exported its products to 8 countries, the total export volume amounted to 4.5 million EUR (in the similar period in 2015 – 4.7 million EUR). The main directions of an export in reporting period were EU countries: Estonia, Poland and Lithuania, and the third countries: Russia, Uzbekistan, Belarus.
In the second quarter, the first 3 trains DR1 were delivered to the customer AS Pasa?ieru vilciens. The customer applied 10% penalty for violation of terms of modernization project implementation. These losses were represented in the company’s financial report.
In the 1st quarter, Company’s costs optimization was performed, as well as decrease of number of employees and refusal from non-profitable types of activity. In the second quarter, the company continued to optimize costs. The large losses by the results of six months are connected with large losses in the first quarter of the reporting year due to lack of objects, as well as due to application of 10% penalty within the DMU. According to provisory marketing prognoses, the Company will be loaded with work in quarters 3 and 4 in 2016, taking the costs optimization into account.
During the 6 month period in 2016 the consolidated net turnover of the Group amounted to 6.2 million EUR (1 % decrease in comparison with net turnover in the relevant period in 2015).
The Group completed the 6 month period in 2016 with a loss of 1,46 million EUR. During the accounting period the Group exported its products to 8 countries, the total export volume amounted to 4.5 million EUR (in the similar period in 2015 – 4.7 million EUR). The main directions of an export in reporting period were EU countries: Estonia, Poland and Lithuania, and the third countries: Russia, Uzbekistan, Belarus.
In the second quarter, the first 3 trains DR1 were delivered to the customer AS Pasa?ieru vilciens. The customer applied 10% penalty for violation of terms of modernization project implementation. These losses were represented in the company’s financial report.
In the 1st quarter, Company’s costs optimization was performed, as well as decrease of number of employees and refusal from non-profitable types of activity. In the second quarter, the company continued to optimize costs. The large losses by the results of six months are connected with large losses in the first quarter of the reporting year due to lack of objects, as well as due to application of 10% penalty within the DMU. According to provisory marketing prognoses, the Company will be loaded with work in quarters 3 and 4 in 2016, taking the costs optimization into account.
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