Joint Stock Company Valmieras Stikla Siedra reported unaudited consolidated earnings results for the year ended December 31, 2016. For the year, the company reported sales of EUR 124,254,867 against EUR 121,191,727 a year ago. Operating profit was EUR 7,190,820 against EUR 6,850,630 a year ago. Profit from operations and before tax was EUR 6,316,406 against EUR 5,997,346 a year ago. Net profit was EUR 5,087,758 or EUR 0.2129 per share against EUR 5,475,175 or EUR 0.2291 per share a year ago. Cash provided by operating activities was EUR 15,423,569 against EUR 14,322,574 a year ago. Purchase of fixed and intangible assets was EUR 13,467,825 against EUR 15,714,911 a year ago. Return on capital was 7.4%. EBITDA was EUR 17.74 million. EBIT was EUR 7.19 million.

For the year 2017, Considering the positive growth trends in the global glass fiber market, the constantly developing fiberglass industry and the high demand for glass fiber products the management of the joint stock company predicts that the group's consolidated net sales in 2017 will reach EUR 135 million to EUR 142 million, which will make a consolidated net profit of EUR 9.5 million to EUR 10 million.

For the first month of 2017, the group's management indicated that the preliminary results of the first month of 2017 confirmed the trend as the group's sales came to EUR 12.7 million and profit grew by 33% against January 2016 to EUR 1 million in January 2017.