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International Internet Magazine. Baltic States news & analytics Sunday, 19.01.2025, 20:56

Knauf building materials maker raises turnover 7.8% in 2019

BC, Riga, 15.07.2020.Print version
Latvia’s Knauf building materials maker turned over EUR 70.88 million in 2019, which is an increase of 7.8 percent against a year before, while the company's profit grew 20.5 percent on year to EUR 14.343 million, writes LETA, according to information available at Firmas.lv.

The company's management said that thanks to steady sales of construction materials in the Baltic market, last year was successful for Knauf. 


This year Knauf is not planning any job cuts and the company's production capacity does not require importing raw materials from the group's other companies.


Projecting construction growth in the Baltic states, Knauf plans to improve its sales and profit results this year, the management said. 


Knauf closed 2018 with EUR 65.782 million in turnover and a profit of EUR 11.901 million. 


The Latvian unit of Knauf, established in 1994, belongs to Germany's Knauf International Gmbh. Knauf is the only manufacturer of plaster board in Latvia and the Baltics.





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