CrossChem reports modest 2023 profit

Chemical manufacturer and distributor CrossChem earned a net profit of 415,000 euros on revenues of 21.1 million euros in 2023 according to its unaudited financial results.

"We are satisfied with the results of 2023 due to the complex geopolitical conditions in which we had to operate. Green chemical production is not a simple job. This is due to strict national regulation, high safety requirements and constantly changing import and export conditions. Nonetheless, we believe that despite the difficulties we are aware that we are on the right path, ensuring a greener environment for all of us," said Ričards Andersons, Chairman of the Board.

The financial report also shows that the company's equity reached 5.51 million EUR and total assets increased by 7%, reaching 14.95 million EUR.

SIA CrossChem is a 100% Latvian capital company, which is part of the CrossChem International group - a chain of worldwide chemical product producers and distributors. The basis of the business is the production of sustainable and environmentally friendly products.

The company produces AdBlue®, AUS40®, liquid fertilizers and automotive products and provides a range of services related to these products.

Source: Eng.LSM.lv (Latvian Public Broadcasting)
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