In 2022, the turnover of Latvijas Finieris Group reached Euro 350 million, which is 36% higher than the previous year, while EBITDA increased by 54% to Euro 55.5 million.
Although some stability in supply chains has now been achieved, uncertainty remains high, therefore the ability to balance sourcing opportunities with market demand will remain a key condition for competitiveness in the foreseeable future. Latvijas Finieris exports most of its birch plywood products to countries in the European Economic Area, with a focus on industries where birch plywood is essential due to its unique physical and mechanical properties.
In order to strengthen its leading position in the European birch plywood market and to achieve the goals set out in the company's development strategy, the Group plans to invest more than Euro 200 million in the coming years in its development. The most important investment projects, which were launched last year, are the third stage of the development of RSEZ SIA "Verems" in Rēzekne and a new synthetic resin plant in Riga, which is being built as part of the international consortium project VIOBOND.
Smaller but equally important investments for the overall development of the Group are planned for the veneer plant in Kuldīga, the nursery Zābaki and machinery unit Iekārtu rūpnīca, while process automation and digitalisation are taking place in each of the company's business units.
Latvijas Finieris is one of the largest birch plywood producing companies in the world with production in all Baltic countries and in Finland.
