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International Internet Magazine. Baltic States news & analytics Friday, 18.06.2021, 00:11

Leibur bakery in Estonia boosts sales, profit in 2019

BC, Tallinn, 24.07.2020.Print version
Sales revenue of Estonian bakery company AS Leibur climbed 5.6 percent year on year to 24.6 million euros in 2019, while profit rose 13.1 percent to 1.4 million euros, reports LETA/BNS.

In sales, production of bread and preservative free bakery products accounted for 24.5 million euros and retail sale of bakery and confectionery products for 100,000 euros, it appears from the annual report. 

In a breakdown by market, 13.5 million euros in revenue was generated in Estonia, 8.3 million euros in Finland, 1.4 million euros in Sweden, 712,900 euros in Latvia, 586,000 euros in Lithuania and 108,500 euros in other countries of Europe.

The average number of employees decreased by six year on year to 198 in 2019, while wage costs rose 5 percent to 3.2 million euros. Remuneration of members of the management board totaled 100,000 euros, as much as in 2018.

Leibur decided in the past financial year to pay out 7.4 million euros in dividends. Its undistributed profit as at balance sheet date stood at 62.7 million euros.

Leibur invested 700,000 euros in technology upgrades in 2019. No major investments are planned to be financed in 2020.

AS Leibur is a company of Lantmannen Unibake group, whose core area of business is the production and sale of fresh and frozen bakery products in Europe, Australia and the United States.

Lantmannen Unibake is a holding of Swedish agricultural cooperative Lantmannen ek for.

Leibur's best known brands in Estonia are Rukkipala, Leiburi Rost, Leiburi Ruks and Leiburi Kuldne.

Intragroup export of frozen bakery products to Finland, Latvia, Lithuania, Norway and Sweden, which are sold by companies of the group under local brands in their respective markets, makes up a substantial part of Leibur's output.

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