Valmiera Glass Group reaches new profit and turnover record in the first nine months this year

Valmiera Glass Group had profitable first nine months 2014, reaching EUR 5.92 Million consolidated net profit that is for about 47% higher compared with the first nine months 2013 of JSC Valmieras stikla šķiedra. While the Groups consolidated turnover reached EUR 87.10 Million in the first three quarters. That is a growth for about EUR 20.27. Million or 30% against JSC Valmieras stikla šķiedra first nine month results in 2013.

The main occasion during the report period has been the Valmiera Glass USA Corp. construction work on the 16ha land in an Industrial park in Dublin, Georgia, Laurens County, which happens as planned. Expected, that Valmiera Glass USA Corp. will start with the production on the first quarter 2015. As mentioned before, the 7,4 thousand square meter big factory will manufacture glass fibre products with high added value for the North America market.

Alongside the construction work JSC Valmieras stikla šķiedra has established another subsidiary company in the United States of America – Valmiera Glass Trading USA Corp. The main purpose of this formation will be Valmiera Glass Group productions sale in United States of America. Expected that Valmiera Glass Trading USA Corp. will begin its work at the beginning of year 2015. Both in USA newly created companies are also recognized as the JSC Valmieras stikla šķiedra asset since 13th August 2014 and their shares had been taken in accounting of JSC Valmieras stikla šķiedra.

In addition the Company’s share price from January 1st 2014 till September 30th 2014 has increased by EUR 1.937 or 94.36%. The value of one share at January 1st 2014 was EUR 2.063 but till September 30th 2014 the price had to EUR 4.01. Currently the JSC Valmieras stikla šķiedra share price has had the highest rate in the company’s history.

Lately JSC Valmieras stikla šķiedra has experienced rapid growth and reaching companies strategic purposes had been also highly rated from third parties. According to this, JSC Valmieras stikla šķiedra received Nasdaq Riga a special award in the nomination “Company with the highest share price growth among Latvia’s valued companies TOP 101”, as well as the award in the nomination “TOP 500 exporter” Latvia wide.