In the past year, one of Latvia's leading wood industry companies Stiga RM* and five related group companies continued targeted growth, ending the year with almost EUR 95 million consolidated group turnover, which is by 12% or 10 million. euro more than in 2022. The consolidated EBIDTA indicator of the group companies reached EUR 30.2 million last year., while the total profit of group companies \u2013 EUR 22.2 million, showing a net profitability of 23%. By diverting a significant portion of profits to investments in further operational development, the total amount of investments in development projects last year amounted to EUR 31 million.<\/p>\n
\"Last year was one of the most successful in the history of Stiga RM. A significant increase in the selling price of plywood in the international markets in the first half of the year contributed to a significant increase in revenue and earning surplus profit, which we almost completely directed to further development. Clearly aware that such favorable market conditions are not a long-term phenomenon, it is important for us to continuously strengthen our resilience and ability to adapt to different market conditions, \" says Andris Ramoli\u0146\u0161, owner of Stiga RM and chairman of the board .<\/p>\n
By implementing both previously started and new development projects, the total amount of investments made by group companies in 2023 reached EUR 31 million, which is half more than in 2022, when the amount of investments was EUR 20.2 million.<\/p>\n
This year, the company publicly announced plans to develop another wood processing plant. In the next few years, a new, modern, technologically advanced production plant for high-quality engineering wood products will be built in Ogre, instead of the existing sawmill \"Norupe\".<\/p>\n
* \"Stiga RM\" group of companies includes six companies: SIA \"Stiga RM\", SIA \"Stiga RM Nami\", SIA \"Stiga RM Distribution\", SIA \"Stiga RM Transports\", SIA \"Stiga RM Met\u0101ls\" and SIA \"Stiga RM Me\u017es\" \".\u00a0<\/span><\/em><\/p>","protected":false},"excerpt":{"rendered":" In the past year, one of Latvia’s leading wood industry companies Stiga RM* and five related group companies continued targeted growth, ending the year with almost EUR 95 million consolidated group turnover, which is by 12% or 10 million. euro … Continue reading