BLRT Grupp: 2010 Results Exceed Expectations (Estonia)

The consolidated turnover of the concern in 2010 exceeded the expected level by 4 percent.

Net turnover of realization in 2010 was 304 MEUR that is 4 per cent more than had been expected. EBT totaled 23.7 MEUR thus exceeding the results of 2009 by 35 percent.

In 2011 it is planned to increase the turnover of the concern up to 357 MEUR, which means by 17 percent comparing to the last year. “In 2011 we will continue to develop the concern’s activity in Baltic states and Ukraine,” said Berman and specified: “For this purpose we are planning to invest about 63 MEUR, 60 percent of them to expand the main activities of the concern and the rest through the joint ventures.”

In 2010 the concern invested in total 46 MEUR. Comparing to the 2009, the turnover of the concern decreased by 3.4 percent.

The concern BLRT Grupp includes 70 enterprises, which operate in Estonia, Latvia, Lithuania, Finland, Norway, Russia, Poland and Ukraine. The main branches of activity are shipbuilding, shiprepair, manufacturing of the large-scale steel structures, machine building, processing of scrap metal, stevedoring and port services as well as metal and industrial gases trading. About 4000 specialists work in the companies of the concern.

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Source:BLRT, February  15, 2011; Image: