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International Internet Magazine. Baltic States news & analytics Sunday, 22.09.2019, 03:11

IT company Mikrotikls profit increases 1.8 times in 2018

BC, Riga, 11.09.2019.Print version
Network equipment manufacturer Mikrotikls last year operated with a turnover of EUR 258.711 mln, up 2.8% y-o-y, while the company's profit increased 1.8 times to EUR 79.349 mln, according to informed LETA.

The company's management report says that the company has stable market positions, focusing on development of new products and increasing exports.

The management report says that most of Mikrotikls purchases and sales are in US dollars. Last year's fluctuations of the US dollar against the euro had a negative impact on the company's earnings. The company places free cash in short-term deposits for up to three months.

Mikrotikls management expects sales to stabilize this year as the company will continue work on new product development as well as increasing customer confidence.

The company has a contract with the responsible entrepreneurship company Latvijas Zalais Punkts for waste collection and recycling, in order to prevent the environmentally harmful components used in the electronics industry from damaging the environment.

In 2017, the company posted EUR 251.623 mln in turnover and EUR 43,256 mln in profit.

Mikrotikls was registered in March 1996, the company's registered capital is EUR 2,840.


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