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Efficiency and new export markets ensured strong results for Wolf Group

Export-oriented Wolf Group increased its turnover. In 2012, the emphasis is on export to Middle America and the Balkans.

 

The sales turnover of Wolf Group, which is exporting building foams, joint sealants and breathing facade solutions to nearly 50 countries this year, amounted to nearly 80 million EUR in the financial year of 2011, growing by almost 15% compared to the year before. Consolidated operating profit was slightly above 5 million EUR. The economic results were positively influenced by an increase in production efficiency, the expansion of export to new countries and the strengthening of positions in the existing export markets. This year, the company started exporting construction chemicals to the exotic countries of Macedonia and Mexico.

Commenting on the results of the financial year, the Chairman of the Management Board of Wolf Group, Jaan Puusaag, said that 2011 was a successful year for Wolf Group. “The Baltic countries showed signs of recovering from the crisis and sales to the Finnish market increased,” said Puusaag. Total sales in Latvia and Lithuania grew by more than 30%, with sales in Finland growing by 15% compared to the same period the year before. Positive sales results were also observed in other export markets.

Last year, Wolf Group expanded its client base in South America and made progress in the Indian market. This year, Wolf Group launched sales activities in Mexico and Macedonia and considers those regions to be particularly attractive. “The Mexican economy is the eleventh largest in the world and has been experiencing strong growth in recent years,” said Puusaag, adding that Mexico has an developed culture of using construction chemicals, which makes that market particularly attractive.

Through export to Macedonia, the company is hoping to also expand its activities to the markets of Albania and Kosovo. “The three Balkan countries together form a market that is similar in size to the Baltic market. The Balkan countries are currently in the same state as Estonia ten or more years ago,” explained Puusaag.  
Wolf Group comprises the sales and production enterprises of the leading European producer of construction chemicals and materials Krimelte both in Estonia and abroad. Wolf Group has production plants in Estonia and Russia, and sales units in Estonia, Latvia, Lithuania, Ukraine, Romania, Bulgaria, Denmark and Kazakhstan. The geographical scope of export activities covers nearly 50 countries, from Norway to Australia and from Brazil to Japan.