The “Stiga RM” group continues to set records – 2025 turnover exceeded 114 million euros - Zeme un valsts

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The “Stiga RM” group continues to set records – 2025 turnover exceeded 114 million euros

Stiga RM | 28.01.2026

In 2025, one of Latvia's leading timber industry companies, “Stiga RM”, and five associated group companies* continued to achieve their highest turnover figures on record, reaching a consolidated turnover of 114.8 million euros, which is 18.7% more than the year before. These financial results demonstrate solid profitability and an efficient operating model despite exceptionally challenging global market conditions, which resulted in price pressure Stiga RM across the categories of products and by-products offered.

“Last year's turnover results confirm that the goals set in recent years – to invest in the manufacture of high value-added products – delivered good results in the past year as well. Despite the uncertainty in global markets, “Stiga RM” continues to pursue long-term competitiveness, technological development and a sustainable position as an industry leader with real determination. We can see that the substantial investments and the persistent work of the Stiga RM team continue to bear fruit. This year we will also continue to invest in IT, because making decisions based on high-quality data is an inseparable part of rapid growth in the face of enormous competition,” says Andris Ramoliņš, owner and chairman of the board of “Stiga RM”.

The introduction of various IT solutions makes it possible to gather data across all production processes. By analysing the data obtained, Stiga RM has therefore been able to refine its product range, make forest harvesting and logistics processes more efficient, identify and reduce unnecessary costs, and improve the productivity of production processes.

Events in 2026 – in Kuldīga, Tukums and Ogre

At the beginning of 2026, the company plans to bring its new plywood further-processing plant in Kuldīga into operation. Modern automated production equipment worth just under 5 million euros will be installed in the new factory building as early as the end of this year. The further-processing plant will make it possible to increase the value of the product created at the company's existing birch plywood facility by 50–70%, as well as to provide 16 new jobs in the region.

This year will also see the start of operations at the Stiga RM acoustic panel factory in Tukums, which will be the most advanced acoustic panel factory in the world. Once opened, the 80 thousand square metre factory complex will provide almost 100 new jobs and the manufacture of high-quality timber products, primarily for export markets, significantly expanding the Stiga RM product portfolio.

The Tukums acoustic panel factory is already operating in test mode, and the quality of the first panels fully meets the standard the company has set. Despite the factory running in test mode, the new product has attracted great interest from customers across Europe, and Stiga RM has already signed its first supply contracts.

In the second half of 2026, the first stage of construction is due to be completed on the large-format and non-standard birch plywood factory in Ogre, which will be one of the most modern plywood facilities in Northern Europe. That also means 50 new jobs in the region.

* 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 announcement brings together information on the combined performance figures of the 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/.

About Stiga RM:

Stiga RM is a family business from Tukums, founded in 1994 with the aim of caring for Latvia's prosperity through the responsible management of forest areas. Across its own holdings of more than 12,500 hectares, most of which is forest land, the company carries out the full forest management cycle based on the principles of sustainable forest management. At the Stiga RM facility in Kuldīga, birch plywood is manufactured from high-quality Latvian birch timber. In Tukums, meanwhile, the world's most advanced wood wool cement board (WWCB) acoustic panel facility has begun operating in test mode. The company also offers roundwood haulage services, operating the largest fleet of timber lorries in the Baltic and Scandinavian countries.

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