Schwenk Latvija reports 5% increase in turnover in 2021

Schwenk Latvija has reported a 4.9 per cent YoY increase in turnover in 2021. The company's turnover reached EUR96.455m, while profit came in at EUR16.118m, up 31.9 per cent YoY, according to Firmas.lv. 2021 saw Schwenk Latvija sell more than 1Mt of cement, of which over 75 per cent was exported, mainly to Finland, Estona and Sweden, reports Baltic Business Daily. Capex in 2021 stood at over EUR23m, up 16 per cent on the 2020 figure. According to the company's annual report, despite the negative impact of COVID-19 on the domestic construction market, the company continues to see its revenue increase with sales rising in regional export markets.