During the first 3 months of the year 2016, JSC “Valmieras stikla šķiedra”, together with its subsidiary companies, has reached a consolidated net turnover of 33.08 Million euro, thus maintaining the record-breaking turnover level of the 1st quarter of the year 2015, as stated in the unaudited consolidated inter-period report of JSC „Valmieras stikla šķiedra” for the 3 months of the year 2016. The Group’s consolidated net profit has reached EUR 2.06 million, whereas EUR 1.32 million have been invested into development - for the modernisation of the current technical and technology solutions and for development of new products.
During the first 3 months of the year 2016, the products produced by JSC “Valmieras stikla šķiedra” were exported to 37 countries of the world thus raising the amount of export to 97%. Over the 1st quarter of the year 2016, the key export markets of the products remained unchanged: European Union countries (72%), North America (17%) and other countries. Considerable growth is observed in the export market of the North American region, with the sales volumes increasing by 37% in the first three months against the same period last year.
From a product segment perspective, sales volumes have increased for high added-value products - SiO2 glass fibre products and mats. In the first 3 months of this year, the sales of these products has grown by 65% on average compared to the same period in 2015. Sales volume in other product segments continues to be stable.
On the basis of the results of the first quarter of the year 2016 and the overall development trends, the Group’s management maintains the forecasts expressed for both with regard to the Group’s planned this year’s net turnover of EUR 141 million and the planned net profit of EUR 8.6 million. Hereby, we inform you that in 2016, it is planned to invest EUR 6.2 million into the Group’s development, excluding investments in relation with the production expansion project in the United States of America.
The year 2016 has started for Valmiera Glass Group also with positive business achievements. The construction of a large-scale BJK Vodafone Arena in Istanbul, Turkey was completed in April, in which JSC “Valmieras stikla šķiedra” subsidiary Valmiera Glass UK Ltd was contracted to supply the roof cover for the building: architectural glass fibre textile membrane. Participation in the large-scale project is a significant achievement for the Valmiera Glass Group that demonstrates that the products made by the Group comply with the modern quality requirements.
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
