Lithuania's fertilizer manufacturer Achema reported a net loss of 28.9 million euros for 2018, versus a profit of 20.2 million euros in 2017.
Achema
© DELFI / Kiril Čachovskij

Annual revenue came in at 397.5 million euros last year, down 6 percent from 423.4 million euros a year earlier, the company said.

"The company operated at a loss due to unfavorable price scissors, soaring prices for emission allowances and other taxes burdening the plant," Achema CEO Ramunas Miliauskas said in a press release.

The plant produced 2.3 million tons of fertilizers last year, down 17.3 percent from 2.7 million euros in 2017. The total output of nitrogen fertilizers and other chemical products declined by 14 percent.

Achema exported its products to almost 30 countries last year, with its key export markets being France, Britain, Germany, and Central European and Scandinavian countries.

The company, which is based in Jonava, in central Lithuania, employed 1,321 people on average last year.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Producers: US tariffs to make dairies seek new markets

US import tariffs on Lithuanian dairy products will force exporters to look for new markets, the...

Cybersecurity expert in Vilnius: guard your cables and cords and never borrow from others (1)

Oct. 15th, 2019, Australia’s Deakin University Prof. Matthew Warren, Deputy Director of the Centre...

Dairy producers start feeling impact of rising US export duties

Lithuanian dairy producers say they have already felt the impact of duties , rising as of Friday,...

Nauseda doesn't expect EU budget deal by end of 2019

EU member states differ too much in their positions on the bloc's next multi-annual budget to...

Dairy products subject to 25 pct US import tariff

Lithuanian cheeses, yoghurts and other dairy products are now subject to a new 25-percent import...