Latvijas Finieris performance evaluation in 2011
This year has brought stability in key performance indicators of Latvijas Finieris – resource availability, production and sales volumes as well as finance. In 2011 it is planned to reach a turnover of 117 million lats by selling 206 000 cubic metres of products thus exceeding the results of previous year by 20% and 5%, respectively.
Increase in sales volumes and turnover has been possible due to raising the share of higher value added products. This year the market share of Latvijas Finieris in the European birch plywood market has remained stable within 14% range.
Continuing investment policy of Latvijas Finieris has secured the availability and effective utilisation of the most important raw material – birch roundwood – on a truly Baltic scale, which will make it possible to increase plywood production volumes in the future.
Mr. Uldis Bikis, CEO of Latvijas Finieris: „By transferring production expertise not only to Lithuania, but also to Estonia this year, Latvijas Finieris has strengthened itself as a leading birch plywood producer on the Baltic scale, which allows to represent the common interests of Estonia, Lithuania and Latvia in the global markets more successfully. Total investments during the next 3 years in development of Latvijas Finieris subsidiary in Estonia are planned at 17 million EUR.”
Considering development of the banking sector in the European Union, a decrease of available funds for business is possible in these countries. This could cause some fluctuations in the purchasing power of Latvijas Finieris export markets during the next year, but conservative estimates show that the demand will increase moderately in the longer term.
During the year Latvijas Finieris has hired 100 new employees. In total there are more than 2 000 people employed by the company in Latvia.