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Wolf Group, which exports construction foams, joint sealants and breathable facade solutions to nearly fifty countries, has delivered its all-time best business performance. In the 2012 financial year, the sales turnover of the group of companies grew by approximately 12%, amounting to 91 million euro. Wolf Group posted an operating profit of 8.3 million euro. The business performance was positively impacted by an increase in production efficiency, an expansion of exports to new countries, and a strengthening of positions on the existing export markets.

 

"There is reason to take great satisfaction in the performance of the group, as it matched what we had expected, planned and envisaged," said Jaan Puusaag, Chairman of the Management Board at Wolf Group. According to Puusaag, the most growth occurred in sales to the Russian market, which continues to be the biggest export destination for the company. "In Russia, the market was bullish. True, there is no construction boom there; however, we did increase our market share at our competitors' expense. Furthermore, we gained some major clients, which significantly boosted sales for our plant in Russia," Puusaag added.

Besides Russia, excellent growth figures were produced in Poland and the Baltic states, and also by Wolf Group's subsidiaries in Bulgaria and Romania. In Latvia and Lithuania, for instance, sales increased by nearly 20%. According to Puusaag, these markets showed a clearly perceptible post-crisis recovery last year. "Things got moving again, as people began to build and refurbish more," Puusaag explained.

Last year, Wolf Group continued to strengthen its position on the South American market, expanding its reach to the markets of Argentina, Chile, Colombia and Peru. Its export portfolio also grew to include countries like Macedonia, Kosovo and Belgium, to name but a few. Wolf Group sees great potential in Turkey.