2005.12.13, Valmieras stikla šķiedra, RIG

Valmieras stikla šķiedra                              Dec 13, 2005



Approved: Budget 2006 of JSC Valmieras stikla šķiedra 



On December 9, the Supervisory Council of JSC Valmieras stikla 

approved the company’s budget for 2006, which was elaborated and 

submitted by the Board. 



The budget plans an increase in net turnover of 5%, reaching 34.4 

million lats in 2006, and a net profit that slightly falls short 

of the profit expected for 2005.



Expected net turnover for 2005 is 32.6 million lats. (Please note 

that the expected net turnover ANNOUNCED ON NOV 25 is INCORRECT.)



Compared to the rapid growth of the last two years (32% and 24% in 

2004 and 2005 respectively), the budgeted growth in net turnover is 

not remarkable. However, the Council considers this ratio as 

adequate for the expected situation in the glass fibre market in 

2006 and as realistic for the company that gradually prepares for 

the putting into operation of the new glass fibre plant.



A decrease in net profits is also founded on the preparation of 

market and investments for the new production output.



As already pointed out, JSC VSS cost of materials has increased 

remarkably during the last two years due to the purchase of 

semi-finished products from competitors. The purchased semi-finished 

goods presently replace our own products that will be produced in 

the new plant.







JSC Valmieras stikla šķiedra

Assistant to the Board

Lauma Kugrēna

Phone +371 4202222

      +371 6441429

Fax   +371 4281216

laumak@vss.lv