Egg deficit in Europe allows Balticovo to increase its turnover and its profits

The profit of the egg producer AS Balticovo after tax in 2017 reached 10,862 million euros, four times, or 8,150 million more than in 2016, reports Lursoft Customer Portfolio. In turn, the net business turnover of the company rose 17.4% last year, or 7.754 million euros, and amounted to 52.343 million. 39; euros.

2017. In 2008, the company produced 686 million eggs, an increase of 18 million over the previous year (in 2008, the company produced 668 million yuan). eggs). The profit of the company in 2017 amounts to 8.6 million euros, as well as a corporate tax of 2.2 million euros, for a total of 10.8 million euros. The export in 2017 accounted for 63% of the business turnover of the company.

Toms Auškāps, board member of JSC Balticovo, comments: "The number of important factors contributed to the success of 2017. Last year, the turnover increased by 17% In 2016, we produced 18 million more eggs than in 2016, which we managed to accomplish thanks to the increased efficiency of the production-related processes, as well as the efficiency of the production process. to the productivity of cyclograms, a bird placement plan which, regardless of other circumstances, changes. The results were also affected by an unexpected deficit of eggs in Europe and even beyond Europe due to overwhelming information from FIPRONIL, a toxic substance used to destroy insects and parasites. last year, detected in the Netherlands and Belgium. in the production of eggs. European Union regulations rightly prohibit the use of this substance in the treatment of food-parasitic animals, as a certain amount of Fipronil may enter the final product and adversely affect the kidneys, liver and liver. to the thyroid gland. As a result of the detection of Fipronil, thousands of eggs were removed from trade in the Netherlands, Belgium, Germany, Switzerland and Sweden, as well as an increase in the price of eggs in stock Exchange. the presence was not detected. "As Balticovo uses only natural organic silicon to fight insects, the company has had to deal with a sharp increase in demand for export products in the affected countries," commented Auskaup. Projection proportional to the year

"The real increase in profits compared to the 17% increase in business turnover from 2016 to 2017 has been almost quadrupled," Auska explains. "But it must be taken into account that the 2.2 million euros were directly charged to the corporate tax, following the tax reforms introduced last year, and it is undeniable that the year was successful.The only tax paid last year was 4.89 million euros. "

Due to the significant increase in profitability the # 39; last year, the company will have the opportunity to realize its investment strategy to improve competitiveness and quality. In total, there are currently four stables for which the total planned investment is 15 million euros, as well as the modernization of existing cages – treatment of liquid eggs and boiled egg chambers and promotion additional biosecurity measures.

2017. the company has put into operation a grain pre-treatment complex, completed the repair of the water pipe and rebuilt the purification equipment, and adapted the quail for l & # 39; 39, chicken farming.

The company employed an average of 283 employees last year, or about 13 employees more than in 2016.

JSC Balticovo was founded in 1992 and its share capital is 4,407,781 euros . AS "Balticovo", the main shareholder with 95.42% of the shares, is SIA BCO, with 33% of the shares held by Valdis Grimzem and 67% of the shares held by Tatjana Poplavska.

JSC Balticovo in 2016 achieved a turnover of 44,589 million euros, while the company earned 2,713 million after tax. AS Balticovo produced 668 million chicken eggs this year. The company employed an average of 270 people.