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Wednesday, 24.04.2024, 20:02
Revenue of Estonian sealants maker Krimelte down 11.8% in 2015
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Last year Olive Quimica S.A. successfully invested in the group while crisis continued to deepen on the company's biggest market, Russia. While sales of the company's Spanish plant grew nearly 15% on year, sales to Russia declined by 30% which had a big impact on the group's total results, the company's management said in the annual report.
Compared to 2014, the group's consolidated sales fell 11.8% to 84.1 mln euros. Most of the group's produce -- 96% -- was sold on foreign markets. The biggest markets were Russia, Spain, Poland, Lithuania, France, Estonia, Ukraine, Latvia, the U.K. and Romania.
Net profit of Krimelte decreased 38.6% to 1.4 mln euros last year.
At the start of 2015 the situation on the Russian market seems to be stabilizing, and developments on the central and western European markets continue to be positive.
Krimelte is planning to continue to invest in implementing new technologies.
The average workforce of Krimelte was 311 people last year and their wage costs totaled 6.3 mln euros.
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