Construction, EU – Baltic States, Latvia, Transport

Last year the total net turnover was EUR 34,781,696, and losses were EUR 1,379,807 for the same period.

In this year's first six months 19 ships (last year – 24) have been repaired, and four (last year – three) ships have been built and put into operation.

Riga Shipyard’s raw material, services and stock suppliers over the first half year have basically remained the same, and they are from Western Europe, Estonia, Lithuania and Latvia.

Company's investments for capital assets and renovation amounted to EUR 2,810,000 (last year – EUR 1,709,000).

In April the project co-financed by EU Cohesion Fund "The reconstruction of Riga Shipyard Ltd. heating system was finished. During the project 2,440 meters of heat distribution networks were renovated and put into exploitation, and 28 heating system units were put under construction/renovation. The total costs of the project were EUR 1,058,351.85, from which EUR 423,340.74 came from EU funds.

In June another co-financed project "Energy efficiency measures in manufacturing workshops" was launched. The project is co-financed by EU "Climate Change Financing Instrument". The total costs of the project without VAT amount to EUR 1,416,395.83, and the sum of EUR 479,807.72 comes from EU funds.

As previously reported, last year Riga Shipyard’s net losses were EUR 1.927 million, and the turnover was EUR 53.731 million.

The company's major shareholder with 49.86% shares is limited liability company Remars-Rīga. Other shareholders are natural persons who hold 34.73% of shares, and other statutory companies with 15.41% of shares.

The Riga Shipyard was established in 1995.