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International Internet Magazine. Baltic States news & analytics Saturday, 20.04.2024, 13:35

Turnover of Latvia's RER electric equipment maker grows 27.6% in nine months

BC, Riga, 30.11.2018.Print version
Rigas Elektromasinbuves Rupnica (RER), which makes electric equipment for trains, turned over EUR 27.399 mln in the first nine months of this year, which is 27.6% more than in the same period a year ago, according to the company's statement to Nasdaq Riga.

The group's gross nine-month profit was 1.03 times higher than a year ago and totaled EUR 4.14 mln.


The RER Group's net profit in the first nine months of 2018 reached EUR 1.4 mln, down from EUR 1.58 mln in the first nine months of last year.


As reported, in June this year, RER shareholders decided to issue five-year bonds worth EUR 10 mln to finance the manufacture of electric equipment and refinance the current loan.


Last year the company generated EUR 28.846 mln in audited turnover, while the company’s profit reached EUR 1.463 mln.


The company’s share capital is formed of 5,799,005 shares, including 2,798,400 shares in public circulation. The company’s largest owner is Cyprus-registered Measurestep Enterprises Limited.

RER is quoted on the Secondary List of the Nasdaq Riga stock exchange.





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