Baltic, Car market, Financial Services, Markets and Companies, Passenger cars, Transport

International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 15:24

Toyota Baltic posts EUR 544,000 loss for FY 2015/2016

BC, Tallinn, 19.09.2016.Print version
Toyota Baltic AS boosted its revenue 5.8% to 169.2 mln euros in the financial year ending March 2016, whereas the net result was a loss of 544,088 euros compared with a profit of almost 2 mln euros earned in the previous financial year, reports LETA/BNS.

The company was unable to achieve the profitability level of 2014/2015 as a result of increased competition on the car market, the annual report says.


The developments taking place in the economies of the Baltic countries in 2015 resulted an increase in car sales in Latvia and Lithuania, while in Estonia the market remained on the level of the previous year. Sales of new cars and vans in the Baltic countries grew 8% in comparison with 2014.


Revenue in Estonia declined 3% to 69.6 mln euros, revenue in Latvia grew 3.4% to 45.8 mln euros and revenue in Lithuania surged 25.7% to almost 51 mln euros. The size of the dividend paid out last year was 2.2 mln euros.


Toyota Baltic AS sold 7,826 vehicles during the financial year and its market share expanded from 11.5% to 11.6%. During the previous financial year the company sold 7,025 vehicles.

The company estimates that the market for new cars and vans will probably expand by up to 11% in Estonia in 2016. The rate of growth in Estonia is expected to be 9%. The growth potential is bigger in Latvia and Lithuania, where the rates of growth after the economic crisis have been somewhat lower than in Estonia.


Toyota Baltic AS employed on the average 41 people in the past financial year and wage costs totaled 1.6 mln euros. The number of employees was 40 and wage costs 1.5 mln euros the year before.


Toyota Baltic belongs to Toyota Motor Corporation of Japan.






Search site