Trucking company Kreiss raises turnover 3.8% in 2021

Published date10 May 2022
Publication titleLETA

RIGA, May 10 (LETA) - International trucking company Kreiss turned over EUR 167.221 million last year, which is 3.8 percent more than in 2020, as the company's profit increased 4.6 times amounting to EUR 11.715 million, according to Firmas.lv.

ccording to the company's annual report, Kreiss operates in the Baltic, Scandinavian and European markets, and last year the company continued to expand its customer base and improve customer service.

The company continued to revise its internal procedures and worked on increasing its efficiency by reducing operating expenses by 2 percent.

In April 2021, Kreiss established a subsidiary in Poland.

Last year, Kreiss also partially renewed its fleet, which was hampered by unpredictable deliveries of new trucks, but at the same time boosted by the price levels in the used truck market.

The company paid EUR 34.605 million in dividends, using retained earnings from the past several...

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