Sakret Holdings AS consolidated unaudited interim report for the 1st quarter of 2020
Sakret's consolidated net turnover for the 3 months of 2020 reached almost 4,0 MEUR, and increases of 16,1% compared to the corresponding period in 2019.
The winter of 2019/2020 was a favourable time for the construction business, as the temperature was higher on average, so the construction of new facilities was started atypically early.
The company's gross profitability reached 23,1% compared to the 3 months 2019 result of 21.3%. Sales of basic production (dry and ready-mixed building mixtures) have increased by 16% in natural units. However, it should be noted that due to the warm winter, the share of products, the sale of which is typical in the summer season with a lower sales price.
In 2020, SAKRET continued to develop new products and improve existing ones. The product BOS self-levelling material for floors, completed at the end of 2019, is successfully sold in stores in Latvia. In 2020, its recipes were adjusted to Estonian and Lithuanian factories.
Taking into account the uncertainty of the situation regarding the further course and duration of the coronavirus (Covid-19), as well as the future preventive decisions taken by the responsible authorities of all Baltic States to limit the spread, it is not possible to provide a long-term financial forecast.
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