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VSS: JSC "Valmieras stikla šķiedra” unaudited financial report for 6 months, 2012

Spekuliantai.lt | 2012-08-03 | NASDAQ OMX biržų naujienos | perskaitė: 798
Raktiniai žodžiai: Valmieras stikla skiedra, VSS
VSS: JSC "Valmieras stikla šķiedra” unaudited financial report for 6 months, 2012

Valmieras stikla škiedra Half Year financial report 03.08.2012

JSC "Valmieras stikla šķiedra” unaudited financial report for 6 months, 2012

JSC "Valmieras stikla šķiedra” turnover has increased

The financial statements of the JSC „Valmieras stikla šķiedra” on the first
half of 2012 indicate that the company’s turnover has amounted 26.08 million
lats (37.1 mil. EUR) that is about 1.3 million lats (1.9 mil. EUR) or 5.29%
more than during the first six months of 2011. In its turn, net profit of the
company has reached 1.39 million lats (1.97 mil. EUR), that is 48% more in
comparison with the same period in 2011. Products, manufactured during the
accounting period, were exported to 32 states worldwide for the total amount of
25.07 million lats (35.67 mil. EUR), export volume reaching 96%.

In the first half-year of 2012 JSC “Valmieras stikla šķiedra” continued to
strengthen its position in existing markets and increased turnover. The main
export markets for the company are remained unchanged: European Union (75%),
USA, Japan, India and Russia. Compared with the same period of 2011, the sales
in all geographical markets has grown as follows: USA and Canada - an increase
of 26%, Russia and Ukraine – an increase of 34%, other (inc. Switzerland,
Japan, India, Croatia etc.) – an increase of 61%. The company has invested a
significant effort to introduce new product markets in this year. Successful
cooperation has been extended with customers in Romania and Bulgaria etc.

There has been an evident rise of selling products with higher added value as
nettings (mash), non-woven products and products with high SiO2 content in
first half of 2012. Respectively these product groups have been sold average by
24% increase in comparison with 2011. The sales have remained stable in other
products segments of company.

June 2012 was an important month in JSC “Valmieras stikla šķiedra” history.
Company reached a record of turnover 5.08 million lats (7.23 million. EUR)
during one month, that is an increase of 9.29% in comparison with the analogue
period in 2011.

“Half-year results allow us to look ahead with confidence, that we will be able
to achieve our business objectives and planned tasks of 2012. We are actively
working with our permanent customers and looking for new product markets, and
this intensive work helps us to sell our products, particularly at a time when
the overall market competition is quite fierce. Also we continue to sign new
contracts and focus on development – we have to finish a construction of new
glass melting furnace. It should be noted that the company already has signed
sales contracts that will ensure new furnace exploitation to maximum capacity.
This clearly will increase the company's total turnover,” emphasizes chairman
of the JSC „Valmieras stikla šķiedra” board Andris Oskars Brutāns.

Inita Martinsone
JSC „Valmieras stikla šķiedra” marketing project manager
Phone: 64202242, 29338802
Fax: 64281216
E-mail: initam@vss.lv

1. Finansu parskats neauditets I_pusgads_2012_EN.pdf

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