Good for Business, Latvia, Port, Transport

RTO company, meanwhile, last year generated EUR 585,763 in sales, up 2.3 times from 2016, while the company’s profit dropped 13.9% to EUR 14.396 million.

The company said that RTO profit rose thanks to optimization of costs and changes in the cargo structure, while turnover increased thanks to revision of the pricing policy and increase of cargos in separate segments.

RTO subsidiaries in 2017 reloaded 10.6 million tons of cargo, up 3% from a year ago.

In 2016, RTO concern posted EUR 174.328 million in sales and EUR 21.15 million in profit, while RTO company posted EUR 258,873 in sales and EUR 16.726 million.

RTO, registered in 2005, has a share capital of EUR 5.1 million. A 60% stake in RTO belongs to MCH Investicijas, which in turn is indirectly owned by the families of former politicians Andris Skele and Ainars Slesers, according to information available at Firmas.lv.

RTO subsidiaries are Skonto Metals, Rigas Centralais Terminals, Riga Container Terminal, RTO Elektrotikli, RTO Management, RTO Vagonu Serviss, Juta Terminals, Ostas Projekti, Oglu Terminals, RTO Projekti, RTO Flote. RTO also hold shares in the following companies - Riga Fertilizer Terminal (49%), Riga Coal Terminal (49.1%) and Kravu Ekspedicija (80%).