10 August 2021
Volga JSC is in the Top 50 largest timber companies in Russia.
The revenue of Volga JSC from the sale of products in 2020 amounted to RUB 9.4 billion, net profit – RUB 0.9 billion.
In 2020, Volga JSC increased its production volume to 276,099 tons of products.
In 2020, the Company managed to significantly expand its product line by mastering the manufacture of unique products, such as interliner (paper for medium layers of five-layer cardboard), paper with internal sizing, bulky paper for books.
"We recently published the Company's report for 2020 and we can state that even the pandemic and the collapse of certain economies did not prevent us from completing our investment program, increasing production volumes and, unlike many competitors, ending the year with a profit," commented the company's CEO Sergey Pondar. - Our development strategy, which we continued to implement in stages during the pandemic, allowed us not only to stay afloat, but also to make a significant step forward. An integral part of this strategy was the investment project implemented in 2020 to expand the production of thermomechanical mass, which made it possible to increase the productivity of the paper factory from 250 to 330 thousand tons of products per year and to reload the capacity of the paper machine No. 5. And this is only the first step towards a large-scale modernization of the enterprise. This year, Volga launches a comprehensive program for the implementation of major investment projects: having implemented it, we will soon be able to enter the market with new types of products".
It should be noted that, according to the compilers of the rating, in 2020, with the unprecedented total revenue, the average profitability of the Top 50 timber companies fell to a five-year low. The reason was the economic crisis caused by the COVID-19 pandemic.
The Top 50 included the largest forestry enterprises in Russia, with the share of woodworking and pulp and paper production amounted to more than 50% of revenue. The rating was based on the amount of revenue that the Сompany received at the end of 2020. The assessment of the financial performance of the companies included in the rating is based on the analysis of data that they published in annual reports posted on the disclosure servers and the portal of the Federal Tax Service, as well as provided to the editorial board of Forest Industry magazine.
Read more about the Rating on the website
https://www.lesindustry.ru.
