Shareholders of BLRT Grupp approved economic results of 2015
On the 17th of June at the general meeting of the shareholders of BLRT Grupp an audited financial statement was approved. In 2015 realization turnover of the group decreased by 14% compared to 2014 and constituted 353 million euros. The share of export in turnover constituted 81,3%, and profit before taxes 8,5 million euros.
“Declining oil prices, crisis in the steel industry, globally unstable economic situation had a significant impact both on activity of the concern’s enterprises in the target markets as well as on the total result of the group in 2015, which resulted in reducing of the net realization turnover. But despite this, the concern finished the year with a profit, - notes Veronika Ivanovskaja, the Chairman of the Board of BLRT Grupp.
Reducing volume of orders and negative price dynamics forced to focus on improving of the efficiency of production. Concern administration needed to respond quickly and flexibly to changes in market conditions, which in turn helped to maintain the competitiveness.
“Continues the implementation of the investment program, which will ensure our further sustainable development. As part of the expansion of the ship-repair activities in Lithuania a large dock to service Panamax type vessels, which will be installed in the port of Klaipeda, was acquired. The large investments scheduled in the repair yard in Finland. In Estonia we actively continue to develop real estate projects in Noblessner quarter in Tallinn”, - explains Veronika Ivanovskaja.
BLRT Grupp is one of the largest industrial concerns in the Baltic countries already founded in 1912. Apart from Estonia, activities of enterprises of the concern concentrate also in Latvia, Lithuania, Finland, Ukraine, Poland and Russia. The BLRT Grupp employs about 4000 people.