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Timely reaction to changes in the economic environment and right strategies guaranteed Krimelte’s growth

The consolidated turnover of the first six months of 2010 of Krimelte, an insulating foam and joint sealant manufacturer exporting its products to more than forty countries and belonging to the Wolf Group was 28.3 million euros, growing by more than 50% when compared to the results from the same period last year. The company predicts the continuing of this positive trend and meeting its budget in the second half of the economic year as well.

 

The promising financial results of the first half-year have a close connection to Krimelte’s widened spectrum of export countries and, when compared to the same period last year, to the considerably more stable situation on its export markets. The positive results were also influenced by the crucial decisions and investments into production and the development of sales organisation made at the beginning of the economic crisis and. “Thanks to the steps planned and strategies chosen at the beginning of the economic crisis, Krimelte has been able to increase its turnover, which can be seen in our current financial results,” said Alar Salum, the CEO of Krimelte, describing the importance of the right decisions made during rough times.

According to Salum’s predictions, the overall outcome of the economic year might still show a somewhat more conservative growth percentage of the company’s turnover. “Despite the good start-off, we are still closely monitoring the situation on the export markets since not all the markets are recovering from the crisis identically. However, we still see ourselves meeting our budget during the second half of the year, which gives us reason to expect an overall annual sales growth of 25%,” Salum added.

Krimelte is a leading European manufacturer of insulating foams and joint sealants that is based on Estonian capital and that has been titled the Exporter of the Year on numerous occasions. In addition to the factory located in Estonia, Krimelte has set up production units also in Russia and Denmark. Among others locations, Krimelte exports its goods to such countries as Russia, Ukraine, Kazakhstan, Romania, Bulgaria, Croatia, Spain, Germany, Japan and Brazil. This year, Krimelte started exporting its products also to New Zealand, Israel, Cyprus and Portugal.
Last autumn Krimelte decided to unite all of the group’s companies involved in the sales and production activities under one corporate umbrella brand called the Wolf Group. The Wolf Group unites all of Krimelte’s sales and production companies in Estonia and abroad and also the trademarks Penosil and Tempsi.

The sales turnover of the Krimelte group in 2009 was 813 million Estonian kroons with a pre-tax profit of 62 million Estonian kroons.

Additional information:
Iveri Marukashvili
Communications manager
Krimelte OÜ
Mobile: +372 53 411 813
Skype: uusenergia
iveri.marukashvili@krimelte.ee
www.krimelte.ee