Agriculture, Foodstuff, Latvia, Markets and Companies

International Internet Magazine. Baltic States news & analytics Friday, 23.10.2020, 03:28

Balticovo turnover increases 4.6% in 2019

BC, Riga , 25.09.2020.Print version
Egg and egg products producer Balticovo posted EUR 50.914 mln in turnover last year, an increase of 4.6% on 2018, while the company's profit amounted to EUR 1.614 mln, a decrease of 70% from 2018, according to writes LETA.

Balticovo Communication and Development Director Toms Auskaps told LETA that the company's performance last year was affected by higher egg prices due to poor grain harvest in 2018.3

Balticovo last year produced 661 mln chicken eggs, 12 mln eggs more than in 2018.

Last year, Balticovo exported its products to more than twenty countries, while the company's main export markets were Estonia, Lithuania, Czech Republic, Poland and Germany.

In 2019, Balticovo opened the first free-range chicken barn, modernized liquid egg production line, launched a new product line called Eva, and carried out other development projects.

Over the past three years, Balticovo has invested more than EUR 26 mln in development

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