EU – Baltic States, Financial Services, Foodstuff, Good for Business, Industry, Latvia, Markets and Companies
International Internet Magazine. Baltic States news & analytics
Friday, 26.04.2024, 03:19
Sales of Orkla Foods Latvija reaches EUR 29.9 mln in 2016
The company's financial
indicators cannot be compared with 2015 because for most of 2015 Spilva and Gutta were separate
companies and the merger was completed only in December 2015.
Of the company's 2016 turnover,
sales in export markets account for 22%, and sales in Latvia account for 78%.
In 2016 Orkla Foods Latvija invested EUR 1 mln in production and paid EUR
5.3 mln in taxes.
Orkla Foods Latvija head Lolita
Bemhena said that the company saw growth last year, especially in the
categories of ketchup, mayonnaise and salad dressings. The company also
launched new products last year.
In her words, Orkla Foods Latvija sales in Latvia
reached EUR 23.4 mln, and sales in export market accounted for EUR 6.5 mln.
"The most significant export growth was reported in Estonia and
Finland," she said.
The company's three main export
markets are Estonia, the Czech Republic and Lithuania. Orkla Foods Latvija also
exports to the US, Denmark, Ireland, Canada, Russia, the UK, Norway, Slovakia,
Finland, Ukraine, Germany and Sweden.
Norwegian food group Orkla in August 2014 acquired Latvia's NP Foods group and later decided to
merge Latvian food companies Laima,
Staburadze, Latfood and NP Foods
into one company called Orkla
Confectionery&Snacks Latvija and also to merge Latvian companies Spilva and Gutta into another company, Orkla
Foods Latvija.