SIA “Banga Ltd” reported an audited profit of EUR 1 041 693 for the year 2024
According to the audited financial statements for 2024, prepared in accordance with international financial reporting standards, the company achieved a profit of EUR 1,041,693. The net turnover for this period amounted to EUR 15,958,867, which is a 23% increase compared to 2023.
“The company’s business volumes continue to grow every year, thanks to sustainable cooperation with clients and investments made in infrastructure and manufacturing equipment. For the first time in history, the company’s assets surpassed EUR 10 million in 2024. Despite the challenges arising from the geopolitical environment and unstable tariff policies worldwide, the demand for the company’s products remains high and proportionally increases. We have established a solid foundation for further growth and plan to achieve sales volumes exceeding EUR 20 million within three years while maintaining an EBITDA margin in the range of 10-12%,” says Raivis Veckāgans.
SIA Banga LTD is the leading producer of sterilized fish canned products in the Baltic region. The company’s production facility is located in Roja, Talsi municipality. SIA “Banga LTD” covers the entire canning production cycle. The product exports span five continents and more than 47 countries, including Europe, the USA, Japan, and Australia. The company’s customer base includes wholesale and distributor companies as well as international retail chains. The products are made from high-quality fish raw materials supplied by fisheries in Latvia, Norway, Spain, Chile, and the Faroe Islands. Product quality is confirmed by IFS (International Featured Standards), MSC (Marine Stewardship Council), and ASC (Aquaculture Stewardship Council) certifications. The company’s product range includes more than 50 products marketed under the BANGA brand and private labels.
Raivis Veckāgans
Sales Director
+371 29252286