AS Rigas kugu buvetava (RKB1R) Q3 2024 earnings summary

Executive summary

• Net turnover for the nine months ended 30 September 2024 was €1,550,728, up from €1,150,434 year-over-year.

• Gross profit increased to €206,558 from €124,580 compared to the same period last year.

• The period ended with a net loss of €419,777, compared to a net loss of €267,951 in the prior year.

Financial highlights

• Net turnover rose by 34.8% year-over-year, while production costs also increased.

• Gross margin improved, but higher administration and other costs led to a larger net loss.

• Cash and equivalents at period end were €51,290, up from €15,651 at the start of the year.

Outlook and guidance

• Management confirms the use of consistent accounting policies and a going concern basis for the financial statements.