2004.08.02, Daugavpils Lokomotīvju Remonta Rūpnīca, RIG

JSC  "Lokomotīve"  has  reached its 6 month sales target at 100.4% (the

target  is LVL 5381 thousand, actual LVL 5401.6 thousand), which is 96%

of the respective figure in 2003. The company has worked at a loss. The

reason  for  the  loss  is  a  deviation  from the  structure of repair

orders,  resulting  in  decrease in production in progress and stock by

over  LVL  400  thousand.  The increase of input prices (raw materials,

spare parts, energy) is far ahead the possibility to increase the price

of products. Yet, it is realistic to slow down on the increasing losses

during the second half of the year by planning more profitable products

for the Uzbekhistan, Estonian and Byelorussian markets.

On August 4, 2004 a general meeting of shareholders will take place, to

decide  on  changes  in Supervisory Board and Management Board. The new

company management is expected  to stabilise the financial situation of

JSC "Lokomotīve".



JSC "Lokomotīve" non-audited financial statements for 6 months of 2004,

aviable here: <a href='http://www.rfb.lv' target='_blank'>http://www.rfb.lv</a> /public/vertspapiri/35283.html?language=2