Valmieras Stikla Skiedra Reports Audited Consolidated Earnings Results for the Year Ended December 2017; Provides Earnings Guidance for the Year 2018
Due to continued strong demand in the fiberglass market and availability of the new capacity in the US, the company expects a strong increase in sales to EUR 162.4 million in 2018. The plant Taking into account the start-up costs in the first half of 2018, EBITDA will increase to EUR 23.6 million. Due to the borrowing to finance the investment of EUR 55 million and the associated financing costs, the net profit in 2018 will temporarily narrow to EUR 4.7 million.