Valmieras stikla škiedra
Quarterly report

The unaudited consolidated financial report of JSC “Valmieras stikla šķiedra” as at 31st March 2014

The sales volume is still growing

Today, at 30^th April, for the NASDAQ OMX Riga submitted financial data of JSC “Valmieras stikla šķiedra” as at 31st March 2014 shows that the net turnover of the first quarter has reached EUR 28.57 Million that’s the highest rate for the first quarter since the foundation of the company. Compared to the same period of 2013 it is for EUR 8.93 Million or 46% more. The Groups consolidated net profit in the first three months of the year has reached EUR 1.98 Million that is about 68% more as the net profit of JSC „Valmieras stikla šķiedra” at first quarter of 2013.

In the development of the Group in first three months of 2014 there were invested EUR 2.98 Million with the aim of increasing the production capacity of the Group through buying new plants and modernizing the existing technological and technical solutions and developing of new products. As already submitted, it is planned to invest EUR 8.62 Million in the development of the Group in 2014.

To keep the uprise of the company and the growth in the long-term it is planned to broaden the positions of JSC “Valmieras stikla šķiedra” in the world market as well, through structure a new company in the United States of America. At the moment are actions undertaken to establish the Valmiera Glass USA Corp. in USA solving the questions with the public institutions of USA about the possible location of the company and other formalities needed for the business launch. The management of JSC “Valmieras stikla šķiedra” has already submitted that such kind of development is a natural, logical and client-oriented step. Each year the sales volume in North-America grows, the factory in the USA will ensure that the production is more comfortably accessible to the clients, the terms of delivery will be shorter, in long-term the profitability of the company will grow and the partnership with the client will be closer. It will give new possibilities of business growth and will strengthen the positions of the company in the market of glass fibre products worldwide.

         Contacts:
         Marika Nīmante
         JSC „Valmieras stikla šķiedra” marketing project manager
         Phone: +371 64202276, +371 26635509
         Fax: +371 64281216
         E-mail: Marika.Nimante@valmiera-glass.com
         More information about company: www.vss.lv, www.valmiera-glass.com