Latvia, Markets and Companies, Woodwork
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Saturday, 27.04.2024, 00:45
Stora Enso Latvija turns over EUR 61.35 mln in 2014
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The company's profit increased 20% – from EUR 3.11 million in 2013 to EUR 3.76 million in 2014.
According to the management report, reduction in sales volumes was due to fall in demand for timber in the second half of the year, as well as due to lower demand for cellulose materials (pulpwood, cellulose woodchip) in Scandinavia.
Last year, Stora Enso Latvija sold 377,400 cubic meters of round timber (in 2013 – 529,000 cubic meters), 146,417 cubic meters of woodchip (in 2013 – 158,800 cubic meters), and 165,213 cubic meters of sawn timber (in 2013 – 170,443 cubic meters).
The company's report also says that the main sales market for timber still is the Baltic States. The largest proportion of the total turnover consists of pulpwood and cellulose woodchip exports to Stora Enso Group companies in Sweden and Finland.
Meanwhile, the company's future plan is to increase the total turnover, selling round timber and sawmill byproducts on the local market.
Stora Enso Latvija was founded in 2009. Its share capital is EUR 4.58 million.
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