Latvijas Finieris 2010 and 1st quarter results 2011
In the first quarter of 2011, Latvijas Finieris has sold 52 thousand cubic metres of plywood, which is 11% more than in the same period previous year. Moreover, a new export volume record has been achieved in March this year – 18.5 thousand cubic metres of plywood!
After market restructuring and changes in the product basket according to market requirements, sales of 29 million LVL have been recorded, which translated into profits of 3 million LVL. This exceeds the results of the previous period by 28% and 180%, respectively.
The Group EBITDA (earnings before interest, taxes, depreciation and amortization) has reached 6 million LVL, which is 29% more than in the previous period.
In 2010, Latvijas Finieris has sold 196 000 cubic metres of plywood, recording sales of 96 million LVL and profits of almost 9 million LVL. EBITDA reached 22 million LVL.