JSC «Grindeks» audited financial results for twelve months of 2014
JSC «Grindeks» unaudited interim report for 12 months of 2014
Today, on 27 February, the JSC «Grindeks» submitted the non-audited consolidated financial statements for twelve months of 2014 to “NASDAQ Riga”. Non-audited financial results indicate that the Group closed 2014 with a net loss of 2.3 million euros related to the shareholders of the holding company. In comparison the Group’s net profit in 2013 was 13.5 million euros. The Group’s turnover amounted to 88.4 million euros in 2014, which is by 30 million euros or 25% less than in 2013. In 2014, gross profit margin of the Group was 54%, whereas, net profit margin was -2.6%. Products of the Group, manufactured in 2014, were exported to 60 countries worldwide for the total amount of 83 million euros, which is by 29.3 million euros or by 26% less than in 2013. The geopolitical situation in Russia and Ukraine is the key factor affecting Group performance indicators. Most of the Group financial losses are related to the dramatic decline in the value of Russian ruble – consequently, foregone earnings of the Group makes at least 6.2 million euros.
Juris Bundulis has been reelected as the Chairman of the Board of JSC “«Grindeks»” for another term of the office
RESOLUTION of the Extraordinary General Meeting of Shareholders of joint stock company «Grindeks» held on 22 December 2014