The Management Board of AS VALMIERAS STIKLA ŠĶIEDRA has partially revised its forecast for the 2018 financial year.

The basis for the correction is an updated forecast based on new insights on the GROUP`s newest U.S. facility (Glass Melting Operations) which have begun operations in Q.I 2018 and a better visibility of business developments and special operational expenditures resulting from the plant commissioning and delays in the start up phase.

As the special operational expenditures are unlikely to be offset by the GROUP’s other business activities the Management board assumes the following forecast revisions for the 2018 financial year:
• a reduction in overall consolidated turnover down to EUR 140.000.000 – 145.000.000; and
• subsequently a reduction in consolidated net profits down to EUR 250.000 – 1.000.000.

Contacts:
VALMIERAS STIKLA ŠĶIEDRA, AS
Phone: +371 64202216
E-mail: latvia@valmiera-glass.com