Bakery AS Fazer Latvia last year traded with EUR 25,359 million, which is 0.1% more than a year ago and the profit decreased several times – to 183,743 euros.
According to the company's management report, the total turnover increased due to the increase in sales of goods in Latvia. At the same time, domestic sales increased by 5.5%.
The management also notes that the market share of freshly packed bread made by Fazer Latvia, according to the survey conducted by AC Nielsen, a market research firm last year, increased to 20.9%. This is mainly due to changes in the company's product portfolio, which we started in the past years, with emphasis on high-value-added market segments and efficient business in traditional bread segments.
In 2018, the key tasks of the company were the consolidation of the new, most effective organizational structure, which was created and implemented in the past year, for the continuation of training programs and the development of employees with measures to improve safety at work.
Fazer Latvija's management also states that the goal is to continue to strengthen its leading position in the market segments with high added value, where existing products are developed and new products are created. The company's goal is to increase profitability through smart management and portfolio development and effective campaigns to promote sales and brand enhancement.
Fazer Latvia was registered in 2000 and has a fixed capital of EUR 17,183 million. The sole owner of Fazer Latvia is the Finnish company Fazer Bakeries, one of the companies of the Fazer Group. Fazer Latvia Bread is baked at the Ogre factory, and in 2015, a new, modern factory and confectionary began operating in Ogre. Fazer's candy, including Karl Fazer and Geisho, is produced in Finland. The company had 308 employees at the end of last year.