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International Internet Magazine. Baltic States news & analytics Monday, 21.05.2018, 21:45

Estonian electric equipment maker and seller Tavrida doubles turnover in 2014

BC, Tallinn, 16.11.2015.Print version
The Estonian electric equipment manufacturer and seller Tavrida Electric Export AS boosted turnover 54% to 18.2 million euros and doubled profit to 1.4 million euros in 2014, reports BNS/LETA.

Export accounted for 43.2% of the turnover, the company said in its annual report. "A substantial increase occurred in sales on the markets of the United Arab Emirates, Latvia and Poland, which grew respectively 28, seven and two times," the board observed.

 

The company built a new production facility and purchased production equipment for 304,000 euros last year. Sales volumes are expected to increase by a tenth this year. Continued expansion of market share in Gulf states, vigorous marketing activities and implementation of new products that have passed testing may lead to significant growth of sales in the future, the board said.

 

The company noted persisting difficulty of finding qualified staff.

 

The group employed an average of 69 people last year of whom 56 worked for the parent company and 13 for subsidiaries. Labor costs totaled 1.8 million euros, up by 7% over the year.

The Tavrida Electric Export group includes subsidiaries in Poland and Egypt and a related company in Romania.

 

The group itself is part of the Swiss-registered Tavrida Electric Holding AG, the third-largest manufacturer of vacuum switchgear worldwide.






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