In 2025, “Stiga RM”, one of Latvia's leading wood-industry companies, and five related group companies* achieved a consolidated turnover of more than 100 million euros for the first time in the company's history, with turnover rising to 114.7 million euros, up 18.25% on the previous year. The group's profit stood at 11.3 million euros, while EBITDA exceeded 25 million euros, demonstrating stable profitability and an efficient operating model even in a volatile market environment. Last year the company invested 40 million euros and provided employment for 616 people in the Kurzeme and Zemgale regions.
“Exceeding 100 million euros in turnover for the first time in the company's history is an important milestone, but what matters even more is that this result was achieved by consistently pursuing our strategic direction – investing in the production of high-value-added products. Despite the import tariffs introduced by the US last year, which forced the company to reorient towards new export markets, over the past year we have continued to invest in modern production facilities and technology, including robotic equipment, the integration of AI solutions, and data-driven company management. I believe we have done a tremendous amount of work, resulting in the best possible financial results for 2025. Thank you to the team for their contribution – we will keep striving for new heights, aiming to exceed our current financial results in 2026 as well,” says Andris Ramoliņš, owner and chairman of the board of “Stiga RM”.
Alongside its financial growth, in 2025 the company continued to carry out one of the most ambitious investment programmes in its history, and in 2026 several of these investment projects have already reached significant development milestones.
2026 marks the next stage of development
In 2026, the world's most advanced wood acoustic-panel plant began operating in Tukums, with an investment of 34 million euros. The new plant is the most technologically advanced facility of its kind in the world, featuring a fully automated production process, a high degree of robotisation and artificial-intelligence solutions. With the plant coming on stream, “Stiga RM” has expanded its product portfolio, launching acoustic panels under its new “Sonablock” brand. The plant is expected to produce more than 4.5 million square metres of panels a year, with 98% of output destined for export, adding more than 55 million euros a year to Latvia's export value.
Also developing its birch-plywood product segment, in April the company brought into operation a new birch-plywood further-processing plant in Kuldīga, built with an investment of 3.09 million euros. The new 4,036-square-metre facility will allow the company to raise the added value of its birch-plywood output by 50–70%, while also broadening its product portfolio with innovative, functional birch-plywood solutions.
At the same time, the company is continuing one of the most significant wood-industry investment projects in Latvia – the construction of a large-format and non-standard birch-plywood plant in Ogre. The new plant will substantially expand “Stiga RM”'s production capacity and strengthen the company's position in the specialised, high-value-added product segment.
These development projects reflect the company's long-term strategy – to make more efficient use of domestic forest resources, develop more technologically sophisticated products and generate ever-greater added value, helping Latvia's economy to grow.
* The “Stiga RM” group of companies comprises 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 release presents combined operating figures for six group companies, excluding SIA “Stiga RM Mežs”. Further information on each company's line of business is available on the company's website: https://stigarm.lv/lv/par-mums/.