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International Internet Magazine. Baltic States news & analytics Friday, 30.10.2020, 21:22

Avoti SWF the largest furniture maker in Latvia in 2017

BC, Riga, 12.11.2018.Print version
Gulbene region-based solid wood furniture producer Avoti SWF was the largest furniture maker in Latvia last year, according to the Latvian Business Annual Report 2018 collated by and LETA.

Last year, Avoti SWF turnover increased 18.9%, amounting to 36.605 mln euros.

Kvist was Latvia's second-largest furniture company last year with a turnover of 29.1 mln euros – 31.3% increase on 2016. Dailrade Koks came in third with annual turnover of 21.778 mln euros – 12.2% up from 2016.

Attels R, whose turnover decreased 3% to 12.34 mln euros last year, was the fourth largest furniture maker, followed by ITAB Production Latvia in fifth place. ITAB Production Latvia's turnover fell 5.8% to 12.279 mln euros last year, however, it posted the highest profit margin of all furniture makers in 2017 – 5.78%.

AM Furniture is sixth on the list with a turnover of 9.654 mln euros (11.8% increase), followed by Ekju –8.814 mln euros (0.9% decrease), Eliza-K – 7.65 mln euros (1.3% increase, Bolderaja Serviss – 6.693 mln euros (2.1% increase), and Tente – 5.816 mln euros (7.3% increase).



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