Last year, the turnover of the woodworking company SIA “Byko-Lat” was 122.88 million euros, which is 48.6% more than the year before, while the company’s profit increased 2.8 times – up to 15.586 million euros, according to the information “Firmas. en”.
The management report of the company’s annual report explains that market trends of increasing demand continued in 2021, creating near-deficit conditions in the middle of summer, as a result of which lumber prices in Europe rose to unprecedented record levels.
Also, the company’s report indicates that the company was able to use this market situation to its advantage to significantly increase sales and almost triple the annual net profit.
Although sawn timber prices have been falling since the 4th quarter of last year, the current price level is still significantly higher than the price level at the beginning of 2020. At the same time, the company’s management emphasized in the report that such a price correction was expected already at the end of summer, and the company had enough time to prepare for it and reduce the risks caused by price fluctuations.
Also, the company’s management indicated that there is still a high demand for windows, doors, garden products and houses produced by “Byko-Lat”. In 2021, the production capacity was fully loaded, and there is already a sufficient volume of orders for next year as well.
It has already been announced that in 2020 “Byko-Lat” worked with a turnover of 82.691 million euros, which is 4.3% more than a year earlier, while the company’s profit increased by 55% – up to 5.487 million euros.
The company “Byko-Lat” is one of the leading exporters of timber. The company was registered in 1993, and its share capital is 48,151 euros. The sole owner of “Byko-Lat” is the company “Bergs Timber” registered in Sweden.
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