JSC „Valmieras stikla š?iedra” unaudited fina

The financial report of Joint stock company Valmieras stikla š?iedra per nine months 2013 shows that the net turnover in three quarters has reached the highest rate since foundation of the company – LVL 46.97 Million (EUR 66.84 Mill.) that is for 21% more as at the same period of 2012. The net profit of the company in last nine months is LVL 2.84 Million (EUR 4.05 Mill.) or 28 percentage points more as in three quarters of 2012.

JSC Valmieras stikla š?iedra, the leader of industrial textiles, has got into TOP 15 of Latvian export companies, reaching the export rate of 96% of its’ production in nine months of 2013 realising the products in 36 countries worldwide. The main export markets are still the same: European Union countries (72%), USA, Japan, India and Russia. The sales volume comparing to the same period of last year has grown in geographical markets of European Union (increase of 15%), USA and Canada (increase of 43%), Russia and Ukraine (increase for 30%).

Analysing the segments of products, growth of sales volume has been recognized for the products with high added value: glass fiber products with high SiO2 content, glass fiber nettings and non-woven products. All these products in the first nine months of 2013 have been sold for 32% more as at the same period of 2012. For other product segments the sales amount is valuated as stable or with a slight increase.

Concerning the tendencies of the market trends as well as the results of the company, the management of JSC Valmieras stikla š?iedra prognoses that the annual net turnover for 2013 could reach LVL 61.13 Million (EUR 86.98 Mill.). Whereas, regarding the process development in the export markets, the acquisition dynamics of planed investments and the capacity of the Company within a last quarter, the planed net profit 2013 of JSC Valmieras stikla š?iedra is reassessed and valuated at about LVL 3.65 Million (EUR 5.2 Mill.), exceeding the audited net profit of 2012 for 28%.

With the purchase of the company in Great Britain, renamed as Valmiera Glass UK Ltd. and joining the knowledge, experience and export possibilities as well as making and developing new projects, JSC Valmieras stikla š?iedra with a strong growth potential is strengthening and broadening the manufacturing of glass fiber and its’ products in the world. The company uninterruptedly evaluates the export possibilities in new markets with new clientele.

         Contacts:          Marika N?mante          JSC „Valmieras stikla š?iedra” marketing project manager          Phone: 64202276, 26635509          Fax: 64281216          E-mail: Marika.Nimante@valmiera-glass.com          More information about company: www.vss.lv