SIA CrossChem profit in 2021 grows by 79%

SIA CrossChem doubled its turnover in 2021 compared to 2020 reaching revenue of EUR 31.8 million and gross profit till EUR 3.5 million, according to the audited annual report for 2021. A turnover of EUR 50 million is forecasted for year 2022.

During 2021 EBITDA* of CrossChem has grown by 110%, comparing to 2020 and reaches EUR 2.2 million. The average 6-year growth rate of CrossChem continues to persist at a level of 26% per year.

“During the financial year 2021, the company consistently implemented an earlier set strategic development plan – continued to expand its client portfolio and increase sales volumes, successfully overcoming the challenges of the Covid-19 pandemic. These ranged from the rising cost of raw materials, fuels and components to the shortage of sea containers on logistics routes. In 2022, CrossChem will continue to increase its export volumes, the number of representative offices outside Latvia, introduce new, innovative products and open a unique chemical testing laboratory in the Baltics, ” says Ričards Andersons, Chairman of the Management Board of CrossChem.

*Calculated as: EBITDA = profit before tax + depreciation and amortisation + interest and similar expenses – interest and similar income
SIA CrossChem is a part of the international CrossChem Group. Its business model centres on three pillars: sustainable products and services; unique proprietary AdBlue® production system for being closer to clients, cutting costs, and increasing competitiveness; and unique client servicing solutions. The company’s main products and services include AdBlue®, AUS40®, liquid fertilizers, auto and industrial chemicals, storage tanks and other equipment. CrossChem has diversified sales channels and more than 5,000 B2B customers. SIA CrossChem is a 100% Latvian capital company.