Cargo, Latvia, Transport, Truck haulage

International Internet Magazine. Baltic States news & analytics Saturday, 30.05.2020, 21:09

Latvia: Trucking company Kreiss turnover increases 0.5% in 2018

BC, Riga, 07.06.2019.Print version
Trucking company Kreiss posted EUR 174.149 mln in turnover last year, which is 0.5 % more than in 2017, and EUR 1.581 mln in losses - compared to a profit in 2017, according to, writes LETA.

The company's annual report says that Kreiss operates on the Baltic, Scandinavian and other European markets, as well as in Russia, Central Asia and Transcaucasia. In 2018, the company continued to expand its customer base and improve customer service in these countries.

At the same time, Kreiss management explains that last year's losses were due to an increase in fuel prices in the European Union (EU) countries, as well as rapidly growing labor costs.

In 2018, Kreiss established subsidiary Augusta 7 that provides accounting services.

This year, the company's business strategies will focus on investments in new vehicles and increasing the company's operations and turnover, looking for new customers, creation of new jobs, and improving business procedures and efficiency.

Kreiss was registered in 1994, the company's share capital is EUR 2 mln. The company belongs to Latvian citizens Sergejs Zalizko and Andrejs Kuznecovs.

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