The losses of cosmetic producer "Dzintars" last year – 1.7 million euros

2017. Amber's fragrance and cosmetics business grew by 9.5% to 6,201 million euros, including a Latvian company of perfumes and cosmetics for a total of 4,771 million euros. #####################################>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 39; euros, up 8.4% over 2016, In the other Member States of the European Union (EU) – 358.2 thousand euros, an increase of 55.3% , while in third countries – 1,072 million euros, or 4% more.

Last year Dzintars also rented the company owns well equipped apartments and provides catering services, earning respectively 65.4 thousand euros and 17 thousand euros

The management report of the company's annual report indicates that on October 17, 2016, in the district court of Zemgale, "Dzintars" an application to initiate the legal protection proceedings and on January 18, 2017, the court confirmed the company a plan for the legal protection process. The two-year period for the implementation of the legal protection process was initially granted to the company, but the deadline was extended by two years on March 16, 2018.

"The company has agreed with the largest creditors To extend payment terms, Amber's management believes that its activities will produce positive results in the acquisition of new orders and that it will agree with the creditors on the sale of prepaid products in the export markets, terms of payment that will allow the company to progressively settle existing obligations and make new purchases for the execution of new orders

At the same time , the auditors' opinion indicates that late 2017, the debts "buyers" and customers 5 thousand euros, of which a debt of 349 thousand euros was long delayed. 39, last year , liabilities of affiliated companies in Dzintara amounted to 351 thousand euros, some of which were long delayed. "In our opinion, a significant portion of these debts is unrecoverable and should be considered as a provision for depreciation. The management of the Company has not accumulated provisions for these debts." During the audit, we were unable to obtain sufficient and adequate evidence. The value of the said badets included in the balance sheet of Dzintars as at December 31, 2017 is mentioned in the opinion of the auditor

In the opinion of the Commissioner, the cost of the construction of fixed badets and objects Dzintara 's unfinished construction amounted to 991 thousand euros at the end of last year. In 2017, the company used services of independent certified appraisers for the badessment of buildings, structures and grounds, but did not carry out evaluation of unfinished work. "During the audit, we were unable to obtain sufficient and adequate audit evidence to determine the recoverable amount of the ongoing construction costs. We therefore do not express our opinion on the value of the badets included in Amber's balance sheet. 19659003] The auditor also notes that Amber's ability to continue its operations and the recovery of its long-term investments depends on the ability of the company's management to operate profitably and to cover liabilities. short term. "These circumstances indicate that there is significant uncertainty that could raise significant doubts about the company's ability to continue operating in the future. These financial statements do not include any changes that would be required if the maintenance the principle was not applicable. "circumstance", says the opinion.

2016. Dzintars worked with a turnover of 5.807 million euros and suffered losses from 1.729 million euros

Dzintars is the developer and manufacturer of perfume and biocosmetics products, the main shareholders of the company are Ilya Gerchikov (69.9%), Janeks Vaclav Kozeluhs (9.3%) and the employees of Dzintars.