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International Internet Magazine. Baltic States news & analytics Monday, 23.10.2017, 21:57

Stora Enso Latvija turnover decreases by 2.2% in 2016

BC, Riga, 22.08.2017.Print version
Timber manufacturer Stora Enso Latvija turned over EUR 51.846 million last year, a 2.2% decrease from 2016, while the company's profit rose 9.9% amounting to EUR 3.593 million, informs LETA, according to Firmas.lv.

The company's management report says that the company's turnover decreased slightly due to lower demand and reduction in sales of pulpwood and cellulose fiber abroad.

 

Last year the company sold 195,309 cubic meters of round timber (down from 267,200 cubic meters in 2016), 182,983 cubic meters of sawn timber (169,084 cubic meters), and 144,394 cubic meters of woodchips (128,290 cubic meters in 2016).

 

The company's future plans include improving occupational safety procedures, strengthening the company's competitiveness, increasing production efficiency and energy efficiency, improving the company's management procedures, and fostering research and development.

 

In 2015, Stora Enso Latvija posted EUR 53.033 million in turnover and EUR 3.269 million in profit.

 

Stora Enso Latvija was registered in 2009 through a merger of Stora Enso Timber, Stora Enso Mezs, Puumerkki and Stora Enso Timber Trading. The company's share capital is EUR 4.582 million.






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