UPB Annual report for 2016
In 2016, UPB holding reached a consolidated net turnover of 147 million euros. The significant increase from the previous reporting period was due to the solid growth in both: the export and Latvian markets, the implementation of technically more complex projects, the development of new products, and the synergy between the holding’s many business groups. In 2016, UPB was recognised as the biggest taxpayer among Latvian construction companies.
The ratio between export projects and local projects in 2016 was 66:34. The biggest export market increase was in Scandinavia where the demand for UPB’s combined frame and facade solutions is consistently growing: last year we implemented several projects of this kind, the biggest of which were Sorkedalsveien (an office and apartment building complex in Oslo, Norway) and Blenda (an office building in Gothenburg, Sweden). UPB’s competence in the implementation of green and sustainable projects was also recognised with BREEAM and LEED certification among others: nearly half of all projects implemented in 2016 comply with one of the environmentally friendly or sustainable systems.