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International Internet Magazine. Baltic States news & analytics Tuesday, 26.05.2020, 09:44

Sales of Orkla Foods Latvija reaches EUR 29.9 mln in 2016

BC, Riga, 05.04.2017.Print version
Orkla Foods Latvija that owns Spilva and Gutta brands last year generated EUR 29.9 mln in sales, while the group's profit amounted to EUR 2.2 mln, the company reported LETA.

The company's financial indicators cannot be compared with 2015 because for most of 2015 Spilva and Gutta were separate companies and the merger was completed only in December 2015.

Of the company's 2016 turnover, sales in export markets account for 22%, and sales in Latvia account for 78%.

In 2016 Orkla Foods Latvija invested EUR 1 mln in production and paid EUR 5.3 mln in taxes.

Orkla Foods Latvija head Lolita Bemhena said that the company saw growth last year, especially in the categories of ketchup, mayonnaise and salad dressings. The company also launched new products last year.

In her words, Orkla Foods Latvija sales in Latvia reached EUR 23.4 mln, and sales in export market accounted for EUR 6.5 mln. "The most significant export growth was reported in Estonia and Finland," she said.

The company's three main export markets are Estonia, the Czech Republic and Lithuania. Orkla Foods Latvija also exports to the US, Denmark, Ireland, Canada, Russia, the UK, Norway, Slovakia, Finland, Ukraine, Germany and Sweden.

Norwegian food group Orkla in August 2014 acquired Latvia's NP Foods group and later decided to merge Latvian food companies Laima, Staburadze, Latfood and NP Foods into one company called Orkla Confectionery&Snacks Latvija and also to merge Latvian companies Spilva and Gutta into another company, Orkla Foods Latvija.

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