Ecology, Latvia, Markets and Companies, Transport

In 2013, the group changed its methodology for estimating intangible assets, which eventually led to overestimation and losses of more than EUR 10 million. The group's profit before intangible assets were written off was more than EUR 3.12 million, however, due to the overestimation of intangible assets, the group concluded 2013 with losses of EUR 6.8 million.

As compared to 2012, the total turnover of Eco Baltia group companies increased by 4.65%. Eco Baltia group companies are one of the leading companies in Latvia and the Baltic States in such fields as waste management and waste sorting, recycling and export of recycled raw material.

CEO of Eco Baltia grupa Maris Simanovics says that 2013 was a year of development for the group, as Eco Baltia grupa not only managed to increase its turnover, but also invested in further development, productivity and new products.

Eco Baltia grupa was founded on July 8, 2011. Its share capital is EUR 14,228. The group fully belongs to Eco Baltia, which was founded on August 11, 2011, and has a share capital of EUR 31,907,900.