The first six months for the Valmiera Glass Group were profitable

Valmiera Glass Group has had a profitable first six months of the year, reaching the consolidated net profit of EUR 3.94 Million that is about 54% more compared to the net profit of JSC „Valmieras stikla šķiedra” in the first six months of 2013. Whereas the Groups’ consolidated net turnover of the first half year of 2014 has reached EUR 57.64 Million. This is a growth of EUR 14.24 Million or 32.8% compared the results of JSC “Valmieras stikla šķiedra” at the same period of 2013.

It is important to mention that the share price of the joint stock company from January 1^st 2014 till June 30^th 2014 has increased by EUR 1.337 or 64.8%. The value of one share at January 1^st 2014 was EUR 2.063 but till June 30^th 2014 the price had to EUR 3.40. Currently achieved value of one share of JSC “Valmieras stikla šķiedra” is the highest rate since 2006.

The main sales markets of JSC “Valmieras stikla šķiedra” are still same: The countries of the European Union (75%) as well as North America. The production of the company is being exported to 38 countries worldwide reaching the export rate of 97%.

2014 has already been invested EUR 5.22 Mill. in the development of the Group, including the purchase of new manufacturing plants, modernisation of existing technical and technological solutions and the development of new products with the aim of increasing the production capacity of the Group. It is planned that the total investments of 2014 could reach EUR 8.62 Million as well as the management of the Group has planned to invest USD 6.5 Million (EUR 4.8 Mill.) for the launch of the new factory in the USA that would produce glass fibre products with high added value.

Information prepared by:

Marika Nīmante

JSC „Valmieras stikla šķiedra”

Marketing project manager

Phone: +371 64202276, +371 26635509

E-Mail: marika.nimante@valmiera-glass.com