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Belarusian Vitebsk Carpets reports excellent export figures

19.03.2020 In 2019 OAO Vitebsk Carpets exported 19.6 million m2 of carpet products or nearly 93% of the total output, BelTA learned from the company's website.

The company's export exceeded $46 million in monetary terms, 93.3% as against 2018. The main target markets were Russia, Kazakhstan, Ukraine, Kyrgyzstan, Tajikistan, and Moldova.

In 2019 OAO Vitebsk Carpets made a total of 21.1 million m2 of carpet products worth Br105 million, 8.3% down from 2018. Proceeds from sales amounted to Br115 million, with net profit at Br2.7 million. In 2019 the company raised about Br5.2 million in fixed-capital investments, with the share of machines and equipment at 21.5%. In Q2 2019 the company commissioned equipment as part of an investment project designed to master the production of polypropylene threads. The total volume of investments in the project exceeded Br15.4 million. The payback period makes six years. The designed output capacity of 3,200 tonnes is expected to be reached in July 2020.

Vitebsk Carpets' business plan for 2020 provides for making and selling as many products as in 2019 in addition to securing profitable operation and maximum workload of the manufacturing facilities. Besides, the company will have to retain its market share, including by means of improving the quality of merchandise, reducing the consumption of materials, energy intensity, and labor intensity. The company will also have to diversify product range to match the market demand.

In late February 2020 OAO Vitebsk Carpets acquired OAO Brest Carpets for nearly Br7.2 million. The deal allowed creating a joint carpet-making company by merging the technological potential and human resources of the two companies. The deal is expected to bolster the competitive ability of Belarusian carpets and ensure predictable and long-term development of the country's carpet-making industry.

BelTA.

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