The chipboard producer SIA “Latgran” last year had a turnover of 85.939 million euros, which is 7.8% more than a year earlier, while the company’s profit increased 2.5 times and was 15.55 million euros, according to information “Firmas.lv “.
The management report of the company’s annual report states that last year all four production plants of the company – in Jaunjelgava, Jēkabpils, Krāslava and Gulbene – worked in the planned mode, achieving an increase in production volumes compared to the previous year.
In total, in 2020, the company produced 650,000 tons of wood pellets, which is 4% more than in 2019, as well as 27% more than in 2018. With the increase in turnover, the production costs of Latgran’s products decreased by 6% last year.
According to the company’s management report, last year Latgran continued to invest in the purchase of forest land, creating collateral for the raw material fund. At the same time, some of the properties were logged, delivering part of the material to their production facilities, as well as in 2020, the company regenerated the forest.
Commenting on the crisis caused by the Covid-19 pandemic, the company’s management report noted that the state-declared emergency did not significantly affect the company’s operations.
In 2021, Latgran plans to continue to develop the production and sale of wood pellets. It is also planned to develop new sources of material extraction, so that this year all four production plants of the company can work at full capacity, ensuring efficient production and meeting customer requirements.
In 2019, Latgran had a turnover of 79.691 million euros, which is 28.3% more than a year earlier, and the company earned a profit of 6.184 million euros, as opposed to losses a year earlier.
The company was registered in 2004 and has a share capital of 3.073 million euros. The company is owned by Estonian Graanul Invest, but its real beneficiaries are Estonian citizens Anders Andersons and Raul Kirjanen.
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