Latvijas Finieris reports 9% turnover increase in 2016

Market: Plywood
Posted May 26, 2017
In 2016 Latvijas Finieris Group reached a turnover of Euro 213.4 million (9% increase against 2015) and sold 260,000 cubic metres of birch plywood and this is the best sales result in company history. Due to last years’ investments in production capacity, this year Latvijas Finieris is planning 10% increase in turnover and to strengthen its market share in Europe and to find new cooperation partners all over the world, as the company says in the press release received by Lesprom Network.

Latvijas Finieris continues its pay rise policy initiated 6 years ago. Its target, along with simultaneous growth in productivity, to increase the purchasing power index when comparing to the salary in the Norther region (Sweden, Finland) annually by an average 6-9% until 2020.

Latvijas Finieris is sure about its future therefore an average pay level has been increased by 7% in 2016 reaching average gross income Euro 1,244.

This year Latvijas Finieris is planning 8% increase in pay level. With every year, Group’s overall tax contribution to the Latvia’s state and municipality budget is increasing and in 2016 reached a level of Euro 20 million (employment taxes 16.1 million euros, other taxes Euro 1.6 million, mandatory purchase component Euro 2.2 million).

Latvijas Finieris is one of the largest birch plywood producing companies in the world with production in all Baltic countries and in Finland.

+7 499 6535608
Ordzhonikidze, 11 109028 Moscow, Russia


Topics: Finance

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