JSC VEF net revenues in the twelve months of 2015 reached EUR 1 135 245

that is for 2 % lower against the previous reported period. Despite lower net

revenues, during the reported period JSC management has managed to

optimize costs and as the result the JSC ended the year with the unaudited

income of EUR 36 084. Management proposes to use this income and cover

losses from previous years.

JSC VEF Management Board.