In 2015, the highest consolidated annual net turnover was achieved since the establishment of Valmiera Glass Group - EUR 121.19 million, which, compared to 2014, represents growth of 12% or EUR 12.75 million, as stated in the revised consolidated financial report for 2015 of AS Valmieras stikla šķiedra. The revised consolidated net profit of Valmiera Glass Group has reached EUR 5.48 million.
In 2015, the Group continued to strengthen its positions on the global market for glass fibre and showed rapid growth, while sales volumes substantially increased in all main markets. Over 2015, the key export markets of the Group’s products remained unchanged: European Union countries (76%), North America (11%) and other countries. A 10% increase in sales volumes was reported on the North American market thanks to the Group’s business strategy and development.
The sales turnover of the Group’s parent company also continued to grow in its key export markets during the 12 months of 2015. The key export markets of the Group’s parent company are European Union states (77%) and North America (11%). From a product segment perspective, sales volumes have increased for high added-value products - glass fibre mesh and technical fabrics. In 2015 on average, sales of these products grew by 29% compared to 2014. Sales segments for other products were characterised by stability.
Investments in development of the Group in 2015 amounted to EUR 19.03 million, which includes the purchase of new equipment, modernisation of existing technical and technological solutions and new product development with the aim of increasing the Group’s production capacity. EUR 0.77 million of total investment was invested in new environmentally friendly technologies.
Considering market development trends and the results of JSC Valmieras stikla šķiedra and its subsidiaries, the Group’s management forecasts that the consolidated net turnover of Valmiera Glass Group in 2016 could reach EUR 141 million with a consolidated net profit of EUR 8.6 million.
In order to familiarise investors, partners, clients and the company with JSC Valmieras stikla šķiedra, its operation and management, a Report on Corporate Management for the Year 2015 was submitted to NASDAQ Riga along with the Revised Report of JSC Valmieras stikla šķiedra for the Year 2015.
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
