Preliminary turnover of Latvijas Finieris up 15% in 2021

• Published date: 24 May 2022
• Publication title: LETA

RIGA, May 24 (LETA) - Latvijas Finieris veneer company posted EUR 257 million in preliminary turnover in 2021, which is by 15 percent more than in the previous year, LETA learned from the company.

The concern's EBITDA reached EUR 36.1 million.

The company said that this year the situation has changed significantly due to geopolitical events as Russia and Belarus have unleashed war in Ukraine. The most difficult task in 2022 will be to ensure wages in the situation of high inflation.

The company in 2021 employed on average 2,424 people a month, and average labor taxes paid per employee amounted to EUR 9,500 a year. In 2021, the company has paid a total of EUR 22.5 million.

Latvijas Finieris last year invested EUR 20 million, focusing on energy efficiency, automatization of processes and product development.

This year investments are planned at EUR 29 million.

The company representatives underscored that in...