Baltic Export, Good for Business, Latvia, Markets and Companies, Woodwork

Latvijas Finieris turnover last year amounted to EUR 187.378 million, compared to EUR 179.290 million in 2012.

The company's profit increased from EUR 9.721 million in 2012 to EUR 11.107 million last year.

According to Latvijas Finieris management report, the company's shareholders received a total of EUR 1.945 million in dividends, whereas the rest of the profit will be invested in the company's development.

The report also says that the improving financial figures are thanks to the company's successful operations on export markets, selling its products in more than 55 countries. Last year, EUR 15.6 million was invested in the development of Latvijas Finieris group.

Last year, company Verems, a subsidiary of Latvijas Finieris, opened a new facility in Rezekne that makes large-size plywood sheets. Kohla Vineer, an Estonian company that Latvijas Finieris acquired in 2012, is now operating in full capacity.

This year, Latvijas Finieris will continue to upgrade its production facilities, improve their efficiency, and seek new sales markets. The company expects that demand for plywood will continue to increase this year and beyond, as will the demand for Baltic wood products.

Latvijas Finieris was registered in 1992, the company's share capital is EUR 53,173,022, made up of 5,786 shares.