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HomeLatviaGetlini Eko turnover down 3.3% in January-September

Getlini Eko turnover down 3.3% in January-September

Getlini Eko, the operator of Getlini landfill, turned over EUR 36.602 million in January-September, which is 3.3 percent less than in the same period last year, while the company’s profit decreased 4.2 times to EUR 1.475 million, according to the data released by the company.

In the nine months of 2023, the company’s revenue from waste management was EUR 33.06 million, vegetable sales brought in EUR 2.259 million, revenue from electricity generation was EUR 1.26 million, revenue from sale of secondary raw materials was EUR 17,317 and revenue from the sale of annual crop came to EUR 5,533.

This year, Getlinki eko has made EUR 1.21 million worth of investments in fixed assets.

According to the management report, the amount of household and industrial waste received by the company continued to fall over the nine months of this year, reflecting an increase in waste sorting as well as the economic slowdown due to high inflation.

At the same time, Getliņi Eko generated around 19.44 gigawatt hours of electricity in the first nine months of the year, most of which was sold on the free market.

The management report forecasts that in the following quarters, the company’s financial position may be negatively affected by a reduction in the amount of waste, which is largely influenced by trends in the national economy, negative fluctuations in the wholesale price of electricity, as well as increasingly strict environmental protection, waste recycling and reuse  requirements and other European Union regulations.

In the first nine months of 2022, Getlini Eko turned over EUR 37.839 million and made a EUR 6.159 million profit.

Getlini Eko was founded in 1997, the company’s share capital is EUR 6.009 million. The company belongs to Ropazi Region Council (2.3 percent) and Riga City Council (97.7 percent).

Source: BNS

(Reproduction of BNS information in mass media and other websites without written consent of BNS is prohibited.)

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