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International Internet Magazine. Baltic States news & analytics Saturday, 16.12.2017, 16:45

Dobeles Dzirnavnieks’ profit expanded 2.4 times in 2016

BC, Riga, 11.08.2017.Print version
Latvia’s leading grain mill Dobeles Dzirnavnieks closed 2016 with EUR 89.771 million turnover, down 8.9% from a year before, while its profit expanded 2.4 times to EUR 2.713 million, writes LETA, according to information available at Firmas.lv.

The company’s revenue from selling flour and flour products dropped 8.5% year-on-year to EUR 47.973 million in 2016, fodder sales brought in EUR 17.752 million, down 24.1%. Meanwhile, revenue from selling grain rose 11.4% to EUR 12.977 million and revenue from grain cleaning and drying, as well as other services grew 2.3 times to EUR 1.592 million.

 

The company’s export turnover ensured 58% of its total turnover in 2016.

 

Last year, Dobeles Dzirnavnieks continued to invest in new plants and technologies, spending a total of EUR 12.2 million on these purposes.

 

In 2016, a total of 187,000 tons of grain were processed at Dobeles Dzirnavnieks plants.

 

This year’s investments are planned at EUR 5 million, the management said.

 

Dobeles Dzirnavnieks reported EUR 98.508 million in turnover and a profit of EUR 1.14 million for 2015.

 

Dobeles Dzirnavnieks, founded in 1994, has a share capital of EUR 3.78 million, and employs 196 people. Since 2008 the company’s owner is Estonian company Tartu Mill.

 

The main business operations of Dobeles Dzirnavnieks include storage and processing of grain and grain products, production of all types of flour and flour mixtures, production of manna, pearl barley, food grade bran, processing of buckwheat, packing of food products, wholesale, retail sales and supply of fodder in the whole territory of Latvia.






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