An increase in turnover for Vika Wood

Vika Wood, one of Latvia’s largest and leading sawmills with a total annual production of an estimated 280,000cbm in sawn wood, witnessed a turnover of €59.651 million in 2016, an amount 0.8 per cent higher than the one seen in 2015. Additionally, as compared to a loss in 2015, profits in 2016 stood at €2.969 million as they increased production by 1.7 per cent, according to the Baltic Course and Firmas.lv.

In 2016, most of Vika wood’s products were sold in Japan, Latvia, and Germany, among a total of 32 countries, and invested €640,941 in development.

Located in the Lurzeme Province in western Latvia, Vika Wood was founded in 1995. Their shares are owned by Norvik Hf, in Iceland.

 

Sources: Firmas.lv, the Baltic Course