Latvia, Technology, Transport

RER in 2015 generated EUR 12.98 million in turnover, down 61.3% from 2014 when the company's turnover was EUR 33.526 million.

RER's consolidated sales last year reached EUR 13.096 million compared to EUR 33.765 in consolidated sales in 2014. Consolidated loss last year amounted to EUR 163,374 in contrast to consolidated profit of EUR 652,381 in 2014.

Taking into account negative effect of the fall of Russian ruble exchange rate on the company’s performance in 2014, the company’s board introduced changes in agreements with buyers from Russian market, switching transactions to euros from first quarter of 2015. In conjunction with this, starting with 2015, the company has not had any currency exchange risks, which had been the most significant financial risks earlier.

At the same time, the devaluation of Russian ruble continues, and that has a negative influence on the company’s competitiveness due to price definition in euros, and as a result sales of the company's products in Russia have decreased.

In 2014, the concern's net sales amounted to EUR 33.76 million, down 0.75 from a year ago, and the concern's profit before taxes was EUR 849,036 and net profit reached EUR 652,382.

RER is quoted on the Secondary List of the Nasdaq Riga stock exchange. Its largest shareholders are Krona Group (46%), Mals Company Ltd (23%), Baltijskij Bank (17.4%) and Imfelant productions Inc (10.5%).