Moscow. Nov 17, 2004. /Lesprom Network/. Neusiedler Syktyvkar raised first nine months sales by 20.6% to RUR 9267 million compared to the prior period in 2003. 1Q-3Q 04 net profits increased by 14,8% to RUR 1273 million compared to the same period in 2003.

 

 

 

RUR million

1Q-3Q 2004

1Q-3Q 2003

Change
1Q-3Q 04/ 1Q-3Q 03

Sales

9267

7688

20,6%

Gross profits

3198

2863

11,7%

Net profits

1273

1109

14,8%

 

 

Exports and imports in first 9 months of 2004 accounted for 47% and 53% of the total sales respectively.

 

NSY main customers on the interior market are: Neusiedler CIS, Europapier CIS, Komus, Kondor, Elladia, Mirovaya Bumaga, Petrobumopttorg, Eltra, Baltic Pulp, Nevskaya Paper, Stora Enso Packaging, Gotek, Crownpack. More than 10% of the total trade volume is consumed by Neusiedler CIS and Europapier CIS.

 

Investments

 

Total CAPEX 2004 investments in 2004 reached EUR 33.8 million. The planned investments into the expansion production capacities are estimated at EUR 22.4 million. Social budget – EUR 1.8 million, around EUR 4 million are meant for environment protection. Investments in timber companies – EUR 7 million. Investments in production modernization are aimed at maintaining the enterprise’s steady operation and production optimization and efficiency increase.

 

Stores

 

Timber enterprises located in Komi Republic are the main source of raw materials for NSY. More than 50% of timber is supplied to NSY by its affiliated enterprises: Ezhva, Udorales, Koygorodsky, Sysolsky, Palauzsky and Noshulsky timber mills.

 

Forecast

 

According to NSY forecasts, paper and cardboard goods will become the main source of income in the future.  In 2005 the total revenue earned by paper and cardboard goods sales is expected to make 96% of the total amount. The enterprise aims at carrying out a technical modernization program aimed at further development of sulfate pulp production. New types of production will not be designed in 2005.