Aloja-Starkelsen Reports Record Turnover and Profit Growth in 2024 Fiscal year
Latvia’s leading potato starch producer, Aloja-Starkelsen, has announced remarkable financial results for the fiscal year ending August 31, 2024. The company achieved a turnover of 19.028 million euros, marking a 14.4% increase compared to the previous year. Even more striking, its profit surged to 566,611 euros, a meaningful leap from the 54,092 euros reported in the 2023 fiscal year.According to the company’s management report, this growth aligns with its long-term strategy and goals. “Aloja-Starkelsen continued to develop according to the long-term strategy and set goals,” the report states. The company has been actively expanding its product range and selling sustainable food and feed ingredients globally, solidifying its position as a key player in the industry.
Innovation and Collaboration Drive Success
In the past year, Aloja-Starkelsen deepened its collaboration with Latvian and foreign scientific institutions. One notable project focused on the use of legumes in developing ready-to-eat products with high protein content. This research, conducted under the Latvian Food Industry Competence Center project, aimed to improve the structural and mechanical properties of products while addressing the aftertaste characteristic of legumes.
Ownership and Share Capital
Established in 1991, Aloja-starkelsen has a share capital of 5,675,797 euros. The company’s largest owner is SIA “IRL MD Food Solutions”,holding 94.82% of the shares. Key stakeholders include Italian citizen Maurizio Decio (28.06%), Swiss citizen Massimo Selmo (26.28%), and Italian firm Keplero Invest SRL (8.92%). Other notable owners include the cooperative society “Vaks” (4.95%), Swedish entity “Sveriges Starkelseprodusenter” (4.12%), and individuals Jānis Garančs (0.72%) and Hans Hugo Berggrens (0.33%).
Financial Performance Over the Years
the company’s financial trajectory has been remarkable. In the 2023 fiscal year, Aloja-Starkelsen reported a turnover of 16.639 million euros, a 25.2% increase from the previous year, though profits dipped to 54,092 euros. The 2024 results, however, reflect a robust recovery and strategic success.
| Fiscal Year | Turnover (EUR) | Profit (EUR) |
|——————|——————–|——————|
| 2022-2023 | 16.639 million | 54,092 |
| 2023-2024 | 19.028 million | 566,611 |
Looking Ahead
With its commitment to innovation, sustainability, and global expansion, Aloja-Starkelsen is poised for continued growth.The company’s focus on research and advancement, coupled with its strategic partnerships, ensures it remains at the forefront of the potato starch industry.
As Aloja-Starkelsen continues to thrive, its success story serves as an inspiring example of how dedication to quality and innovation can drive remarkable financial and operational achievements.
