Turnover of Pobeda Confectionery, the Latvian subsidiary of Pobeda, a leading Russian chocolate maker, in 2017 reached EUR 2.71 million, growing 3.1 times compared to 2016, while the company’s loss decreased by 44.8% to EUR 687,601, writes LETA, according to Firmas.lv business database.
The company’s management said that last year the company actively worked on new technologies and research in its Ventspils plant, partly attracting European structural funds, the company invested about EUR 2 million in technologies.
Last year the company signed a cooperation agreement on regular exports of chocolate to Russia. Also, the company sold products imported from Pobeda plant in Russia. The products were sold in Latvia, Lithuania, Estonia and Bulgaria. Last year an agreement was signed on selling these products also in Saudi Arabia, the US, Germany and Cyprus.
In 2016 Pobeda Confectionery posted EUR 859,617 in sales, while the company’s loss reached EUR 1.246 million.
Pobeda Confectionery was registered in Latvia on April 1, 2014, and belongs to Andrey Muravyev, Vitaly Muravyev and Olga Muravyev. The company's share capital is EUR 3,000.
Founded in Russia in 2000, Pobeda is one of the leading chocolate makers in Russia, turning out more than 50,000 tons of chocolate annually and selling its products in more than 20 countries.