Kronospan improves profits in Latvia

Kronospan improves profits in Latvia

During its last fiscal year lasting from October 1, 2016 to September 30, 2017, Kronospan Riga particleboard producer turned over EUR 186.822 million, up 5.7% year-on-year, and made a profit of EUR 89.332 million, which was 2.5 times higher than in 2016.

The company’s management said in the report that the turnover and profit generated from the particleboard business improved last fiscal year thanks to increased sales of oriented strand board (OSB), particle boards and veneered boards.

Last fiscal year, Kronospan Riga invested EUR 2.6 million in development, down 44.7% from the previous fiscal year.

According to information from, Kronospan Riga closed the previous fiscal year that last from October 1, 2015 to September 30, 2016 with EUR 176.796 million in turnover and a profit of EUR 35.944 million.

Kronospan Riga, formerly Bolderaja Ltd., was founded in 2005. The company's share capital is EUR 40.999 million, the Cyprus-registered Kronospan Baltic Holdings LTD is the sole owner of the company.



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