Valmiera Glass Group has a profitable first half of 2015 and a record turnover

One of the leading fibre glass manufacturers in Europe Valmiera Glass Group raised Groups consolidated net turnover of 18.90%, reaching record turnover EUR 68.52 Million. That is a growth for EUR 10.88 Million against the analog period 2014. As the Groups unaudited consolidated financial results show, also the first half of 2015 has been profitable for the Group by reaching consolidated net profit EUR 4.98 Million, which is a growth of 26.4% compared with the first six months of 2014.

In the first six months of 2015 the production manufactured by JSC Valmieras stikla šķiedra is being exported to 37 countries worldwide reaching the export rate of 98%. In the first six months JSC Valmieras stikla šķiedra continued to strengthen its positions in the existing markets and increased turnover. The main export markets remain stable: EU-Countries (70%) and North-America (14%). The sales volume in the first six months in 2015 compared with the same period in 2014 increased in the EU-Countries (an increase of 15%), North-America (an increase of 29%) geographic markets. Middle East and Asia region export market significantly evolve.

Considering the Groups results and common development tendency, the Groups management is confident to reach the goals set previously regarding the net turnover of the Group for 2015 in the amount of EUR 127.7 Million and the planned net profit in the amount of EUR 10.77 Million.

Valmiera Glass Group with the headquarters in Valmiera, Latvia is one of the leading fibre glass manufacturers in Europe with more than 80 years experience in textile processing. All the companies of the Group operate in two continents and three countries: Latvia, Great Britain and United States of America. The Valmiera Glass Group consists of four companies: parent company: JSC Valmieras stikla šķiedra and three subsidiary companies: Valmiera Glass UK Ltd. In Great Britain, Valmiera Glass USA Corp. and Valmiera Glass Trading USA Corp. in United States of America.

 

Contacts:
Marika Nīmante
JSC „Valmieras stikla šķiedra” marketing project manager
Phone: +371 64202276, +371 26635509
Fax: +371 64281216
E-mail: Marika.Nimante@valmiera-glass.com
More information about company: www.valmiera-glass.com