JSC "Valmieras stikla šķiedra” turnover has increased

The financial statements of the JSC „Valmieras stikla šķiedra” on the first half of 2012 indicate that the company’s turnover has amounted 26.08 million lats (37.1 mil. EUR) that is about 1.3 million lats (1.9 mil. EUR) or 5.29% more than during the first six months of 2011. In its turn, net profit of the company has reached 1.39 million lats (1.97 mil. EUR), that is 48% more in comparison with the same period in 2011. Products, manufactured during the accounting period, were exported to 32 states worldwide for the total amount of 25.07 million lats (35.67 mil. EUR), export volume reaching 96%.

In the first half-year of 2012 JSC “Valmieras stikla šķiedra” continued to strengthen its position in existing markets and increased turnover. The main export markets for the company are remained unchanged: European Union (75%), USA, Japan, India and Russia. Compared with the same period of 2011, the sales in all geographical markets has grown as follows: USA and Canada - an increase of 26%, Russia and Ukraine – an increase of 34%, other (inc. Switzerland, Japan, India, Croatia etc.) – an increase of 61%. The company has invested a significant effort to introduce new product markets in this year. Successful cooperation has been extended with customers in Romania and Bulgaria etc.

There has been an evident rise of selling products with higher added value as nettings (mash), non-woven products and products with high SiO₂ content in first half of 2012. Respectively these product groups have been sold average by 24% increase in comparison with 2011. The sales have remained stable in other products segments of company.

June 2012 was an important month in JSC “Valmieras stikla šķiedra” history. Company reached a record of turnover 5.08 million lats (7.23 million. EUR) during one month, that is an increase of 9.29% in comparison with the analogue period in 2011.

“Half-year results allow us to look ahead with confidence, that we will be able to achieve our business objectives and planned tasks of 2012. We are actively working with our permanent customers and looking for new product markets, and this intensive work helps us to sell our products, particularly at a time when the overall market competition is quite fierce. Also we continue to sign new contracts and focus on development – we have to finish a construction of new glass melting furnace. It should be noted that the company already has signed sales contracts that will ensure new furnace exploitation to maximum capacity. This clearly will increase the company's total turnover,” emphasizes chairman of the JSC „Valmieras stikla šķiedra” board Andris Oskars Brutāns.