Stiga RM Group's turnover exceeds EUR 100 million for the first time in the company's history

In 2025, Stiga RM, one of the leading timber companies in Latvia, and its five affiliated group companies*, surpassed EUR 100 million in consolidated turnover for the first time in the company's history. Consolidated turnover reached EUR 114.7 million, representing an 18.25% increase compared to the previous year. The Group reported a profit of EUR 11.3 million, while EBITDA exceeded EUR 25 million, demonstrating stable profitability and an efficient operating model despite a changing market environment. During the year, the Group invested EUR 40 million in its development projects and provided employment for 616 people across the Kurzeme and Zemgale regions.

“Surpassing EUR 100 million in turnover for the first time in the company’s history is a significant milestone, but even more important is the fact that this result has been achieved through the determined implementation of our strategic direction – to invest in the production of high value-added products. Despite the U.S. import tariffs introduced last year, which required us to redirect sales towards new export markets, we continued to invest in modern manufacturing facilities, advanced technologies, including robotic equipment and AI solutions, as well as data-driven business management. I believe we have accomplished an enormous amount of work, enabling us to achieve the strongest financial results possible in 2025. I would like to thank our team for their dedication and contribution. We remain committed to reaching new milestones and exceeding our current financial performance in 2026,” says Andris Ramoliņš, Owner and Chairman of the Board of Stiga RM.

Alongside its strong financial performance, Stiga RM continued to implement one of the most ambitious investment programmes in the company’s history throughout 2025. In 2026, several of these investment projects have already reached significant development milestones.

2026 marks the next stage of development

In 2026, Stiga RM commenced operations at the world's most advanced Wood Wool Cement Board (WWCB) factory in Tukums, representing an investment of EUR 34 million. The new factory is the most technologically advanced production factory of its kind in the world, featuring a fully automated manufacturing process, a high level of robotics equipment, and integrated artificial intelligence solutions. With the launch of the factory, Stiga RM has expanded its product portfolio by introducing Sonablock acoustic panels to the market. The factory is expected to produce more than 4.5 million square metres of panels annually, with 98% of its output destined for export markets. This is projected to increase the value of Latvia's exports by more than EUR 55 million each year.

Further strengthening its birch plywood product segment, the company commissioned its new birch plywood further-processing factory in Kuldīga in April 2026. Construction of the new factory required an investment of EUR 3.09 million. The new 4,036-square-metre production facility will increase the value added of the company’s birch plywood products by 50–70%, while expanding its product portfolio with innovative and functional birch plywood solutions.

At the same time, the company continues to implement one of the most significant investment projects in Latvia’s wood processing industry – the construction of a large-format and non-standard birch plywood factory in Ogre. Once completed, the new factory will significantly expand Stiga RM’s production capacity and strengthen the company’s position in the specialised high value-added products segment.

These development projects reflect the company’s long-term strategy of making more efficient use of local forest resources, developing increasingly sophisticated wood products, and creating greater added value, thereby contributing to the growth of the Latvian economy.

*Stiga RM group consists of six companies: SIA Stiga RM, SIA Stiga RM Nami, SIA Stiga RM Distribution, SIA Stiga RM Transports, SIA Stiga RM Metāls, and AS Stiga RM Pārvaldība. This Communication summarises the collective performance indicators of Group companies, except SIA Stiga RM Mežs. Further information on the activities of each company is available on the company website: https://stigarm.lv/lv/par-mums/.

About Stiga RM:

“Stiga RM” is a family-owned company from Tukums, founded in 1994, and is currently one of the leading companies in the timber industry in Latvia. On its properties, covering more than 13,000 hectares, most of which is comprised of woodlands, the company carries out the full cycle of forest management, from tree planting to the production of high-value-added products and export to more than 50 countries. The high quality of the company’s products is currently ensured by three modern plants: a birch plywood plant in Kuldīga, a metalworking plant in Milzkalne, and the world’s most advanced Wood Wool Cement Board (WWCB) factory in Tukums. Meanwhile, a new birch plywood further-processing mill is currently being developed in Kuldīga, and in Ogre – a large-format and non-standard birch plywood mill for the production of specialized products for export markets. The continuity of the company’s operations is also ensured by an interconnected ecosystem of companies – SIA “Stiga RM,” SIA “Stiga RM Meži,” SIA “Stiga RM Nami,” SIA “Stiga RM Distribution,” SIA “Stiga RM Transports,” SIA” “Stiga RM Metāls,” and AS “Stiga RM Pārvaldība.” The company also offers roundwood transportation services, operating the largest fleet of timber trucks in the Baltic and Scandinavian countries.

The latest information about the company is available on the Stiga RM website: stigarm.lv.