OREANDA-NEWS. During the first nine months of 2014, the Group's net revenue reached EUR 11 442 954, where of the revenue of AS “Liepajas autobusu parks” and the subsidiary companies of AS “Liepajas autobusu parks” accounted for EUR 8 126 110 and EUR 3 316 844, respectively.

By setting up and acquiring companies the Group seeks to expand its operations in the transport industry and has an aim to become a leading transport company in Latvia in the future. In 2014, the Group will continue implementing the strategy that was successfully commenced in 2012.

In first nine months of 2014, the solvency ratio (equity/assets ratio) of the Group was 0.37 which suggests that the equity of the Group accounts constitutes almost 40% of their total assets.

In first nine months of 2014, the Group's quick liquidity ratio (cash/short-term liabilities) is 0.69 which suggests that it is able to pay almost 70% of short term liabilities with funds.

In first nine months of 2014, the overall liquidity ratio of the Group (current assets/short-term liabilities) is 1.18

The Group's solvency, quick liquidity and overall liquidity ratios concludes that the Group is capable of covering all of current liabilities within a short term and that the liabilities (including bank loans and leases) account for 63% of the Group's total assets; the remainder is represented by the Group's equity.

In first nine months of 2014, the average number of the Group's employees was 545.

During the first nine monhts of 2014, the highest and lowest price registered for the share of AS “Liepajas autobusu parks” at the Stock Exchange “NASDAQ OMX Riga” was EUR 2.87 and EUR 1.66 respectively, but first and last was EUR 1.66 and EUR 2.87, respectively.

The Group's net earnings per share in first six months of 2014 was EUR 0.646, in 2013 EUR 0.288.
In 2014, the Group's parent company carried on work involving the upgrading of production facilities and equipment as well as improving the structure of production and human resource organisation focusing on the measures aimed at improving the company's position in tenders in which passenger transportation contracts are awarded. To develop and expand company’s types of transportiation services, Group's parent company has concluded the cooperation agreement with AS “Air Baltic Corporation” on provision of bus services for "airBaltic" passengers flying to and from the international airport "Riga.

SIA Baltic Taxi is performing business providing good quality taxi services in Riga, territories near Riga and in Liepaja. SIA Baltic Taxi is progressively improving and developing range of services and its quality. SIA Baltic Taxi is maintaining it’s brand’s recognisability and  determine quality of taxi services in Latvia. Customers approve opportunity to use new and modern motor vehicle fleet and pleasant service. The motor vehicle fleet is regularly restored to provide its high quality standards.

During the reporting period SIA Baltic Taxi carried on its economic operations and successfully delivered on the objectives set by its shareholders. SIA Baltic Taxi is developing franchising to involve new partnership enterprises. At the end of the reporting period it had 166 motor vehicles, which generally are provided from partner companies.

Vehicle fleet’s management programm and control processes of SIA Baltic Taxi are being optimised and renewed to continue expanding market share – to increase quantity of customers, but don’t decrease quality.

Non-audited JSC "Liepajas autobusu parks" Financial Report and Consolidated Financial Report for the first 9 months of 2014 please find attached.