The unaudited consolidated financial report of JSC “Valmieras stikla šķiedra” demonstrates that the consolidated turnover of the Valmiera Glass Group in 2015 was EUR 121.5 million. This is the highest annual net turnover since the beginning of operation of the Valmiera Glass Group and an increase of EUR 13.1 million or 12 % as compared to 2014. The Group’s unaudited consolidated net profit amounts to EUR 5.72 million.
In the 12 months of 2015, JSC “Valmieras stikla šķiedra” exported its production to 38 countries worldwide, with its export volume reaching 98 %. In 2015, its main product export markets remained the same: European Union Member States (74 %) and North America (14 %). Its sales volumes in 2015 as compared to 2014 increased in both geographic markets, i.e. in the European Union (by 14 %) and North America (by 24 %).
By product segments, an increase in sales volumes was seen for high-added-value products such as glass fiber meshes and technical textiles. In total in 2015, the company sold these products by an average of 29 % more than in 2014. The sales volumes of other product segments were stable.
The year 2016 has started with good business indicators for the Valmiera Glass Group. The provisional data of the Group show that the consolidated net turnover in January 2016 reached EUR 12.8 million which is by 23 % more than in the same period last year. Whereas the provisional net profit of the Group amounted to EUR 763 thousand which is by 46 % more than in January 2015.
Over the last three years from 2013 to 2015, the growth of JSC “Valmieras stikla šķiedra” has been also reflected in the price of its stocks on the Nasdaq Riga exchange. During the said period, the price grew by more than 181 %. Over the given period of three years, the stock price of JSC “Valmieras stikla šķiedra” grew considerably faster than the OMX Riga and the OMX Baltic Benchmark GI indices. From 2013 to 2015, the OMX Riga index grew by 50.12 % and the OMX Baltic Benchmark GI index grew by 18.53% while JSC “Valmieras stikla šķiedra” stock price grew by 181.12 %.
JSC “Valmieras stikla šķiedra” is a company focused on long-term development, which continuously invests in the production development. This is demonstrated by the plans to expand the production of glass fiber and its products at Valmiera Glass USA Corp in Dublin, State Georgia, Laurens County, US, by investing USD 90 million by 2022. Considering the business plans and the market development trends, as well as the performance indicators of JSC “Valmieras stikla šķiedra” and its subsidiaries, the company’s management forecasts that in 2016, the consolidated net turnover of the Valmiera Glass Group could reach EUR 141 million and the consolidated net profit could reach EUR 8.6 million.
About the Valmiera Glass Group:
JSC “Valmieras stikla šķiedra” and its subsidiaries (hereinafter “the Valmiera Glass Group” or “the Group”) are among the leading glass fiber manufacturers in Europe. The Valmiera Glass Group companies operate in two continents and in three countries: Latvia, the United Kingdom and the United States. JSC “Valmieras stikla šķiedra” production facilities have more than eighty years of experience in textile processing, and their products are aimed at various industrial markets. The Group is composed of four companies: the parent company JSC “Valmieras stikla šķiedra” and its three subsidiaries – Valmiera Glass UK Ltd. in the United Kingdom, Valmiera Glass USA Corp. and Valmiera Glass USA Trading Corp. in the United States of America.
Contacts:
Marika Nīmante
JSC „Valmieras stikla šķiedra” marketing project manager
Phone: +371 64202276, +371 26635509
Fax: +371 64281216
E-mail: Marika.Nimante@valmiera-glass.com
More information about company: www.valmiera-glass.com
