Baltic Export, Foodstuff, Good for Business, Latvia, Markets and Companies

The company's profit declined to EUR 669,873 in 2015 from EUR 720,514 in 2014.

Last year, Smiltenes Piens increased purchases of ingredients – milk, skimmed milk, sour cream – by 48% against 2014, while its sales of cottage cheese swelled 65% year-on-year, according to the management's report. Cheese making remained the company's main business, but Smiltenes Piens increased the production of cottage cheese by 48% and the output of desserts jumped 65%.

Last year, the company put the emphasis on a number of large investment projects, replacing its cheese production lines, including the Mozzarella line, as well as furbishing its cutting-edge microbiology lab. Investments in the new equipment totaled EUR 2.9 million last year.

To increase the accessibility of its products, Smiltenes Piens launched cooperation with Pure Distribution, which enabled the dairy company to expand in Latvia's Aibe retail chain, which accounts for 0.6% of total turnover. The company's cooperation with Rimi Latvija, Maxima Latvija and Elvi retail chains was also successful.

This year, Smiltenes Piens aims to increase export sales to 10% of its output. The company started looking for new export opportunities already last year by taking part in trade fairs and making market exploration trips to the United States, Bulgaria, Sweden, Moldova and Belarus. Smiltenes Piens is already supplying small amounts of kosher cheese to Israel.

In 2016, the company expects to maintain its turnover at last year's level, to keep developing new products and optimize its product portfolio, as well as continue scientific research. The company's total investments in development this year are planned at EUR 540,000.

Smiltenes Piens, registered in 1993, has a share capital of EUR 472,962. The company has 122 employees.