JSC „Valmieras stikla šķiedra” turnover for 9 months of 2012 – 39.82 mill. lats

JSC „Valmieras stikla šķiedra” 9 month financial statement 2012 shows that the company has reached a turnover of 39.82 million lats (56.62 mill. EUR), which is an increase of 2.6 million lats (3.7 mill. EUR) or 6.98% compared to the same time period of 2011. Company’s net profit reached 2.22 million lats (3.16 mill. EUR), which is a 150% increase compared to 9 months of last year. Company’s production is being exported to 32 countries around the world, the exports amount to 96%, for a total sum of 38.28 million lats (54.43 mill. EUR).

During 9 months of 2012 JSC „Valmieras stikla šķiedra” has continued to strengthen its position in existing markets and increase turnover. Main export markets have remained unchanged: European Union countries (75%), USA, Japan, India and Russia. All geographical markets have increased sales compared to 9 months of 2011 – 28% in USA and Canada, 17% in Russia and Ukraine, 36% in other countries (including Switzerland, Japan, India, Croatia, etc.).

Sales from product segments have increased in high added value products: glass fibre nettings (mesh), non-woven materials and high SiO₂ content glass fibre products. Sales of these company’s products have increased by average of 21% compared to 2011. The rest product segments sales are deemed to be stable and constantly sustainable.

A very important investment project has been launched in 2012 – construction of the third one-stage method glass melting furnace of JSC „Valmieras stikla šķiedra”. Already the company has informed that 4.57 million lats (6.5 mill. EUR) have been invested in the construction of the new plant, of which 976 thousand lats are Investment and Development agency’s’ of Latvia financing and 3.6 million lats (5.12 mill. EUR) come from financial resources of JSC „Valmieras stikla šķiedra”.

A chairman of the JSC „Valmieras stikla šķiedra” board Andris Oskars Brutāns: „The most important event in our company this year will be the opening of a new plant. This achievement will expand business operations of JSC „Valmieras stikla šķiedra”. After the opening of a new plant we plan significant increase in sales, which will create growth in export markets. Project proves the high competence of the company and increases competitiveness in the international arena. Intense competition in the industrial textile market is a driving force of creating sustainable solutions and contributing for business results”.

Taking into consideration the results of 9 months of 2012 and market situation, which is considered to be stable, the board of JSC „Valmieras stikla šķiedra” stands for before stated forecast about the net profit of 2012, which could reach 2.65 million lats.

Contacts:

Marika Nīmante
JSC „Valmieras stikla šķiedra” marketing project manager
Phone: 64202276; Fax: 64281216
E-mail: marika@vss.lv