Baltic Export, Estonia, Good for Business, Markets and Companies, Textile

Silvano informed the Tallinn stock exchange that net profit to shareholders of the parent company stood at 3.406 million euros in the third quarter of 2014, as compared to 3.093 million euros at the same time in 2013.

The corresponding net profit for nine months of 2014 was 8.431 million euros compared to 10.709 million euros a year ago.

The group’s sales in the third quarter of 2014 were above the benchmark at the same time last year, the net sales reached 32.479 million euros, compared to 29.865 million euros a year ago.

The corresponding numbers for nine months of 2014 were 87.139 million euros against 98.812 million euros for nine months of 2013. The wholesale segment affected both the increase in net sales in the third quarter and the decrease in nine months of 2014.

Measured by the sales volume, the third quarter sales dynamics year-to-year between the main markets was as follows: Russia 17.037 million euros (17.087 million euros in the third quarter of 2013), Belarus 10.980 million euros (8.029 million euros), Ukraine 1.183 million euros (1.982 million), the Baltic States 898 thousand euros (723 thousand euros), the other markets contributed 2.380 million euros (2.044 million euros).

Silvano said that the economic outlook for most of its major markets will most likely deteriorate due to non-economic factors (sanctions) and their corresponding effect on the real economies (energy prices, currencies, inflation).