⚙️ Primekss reports 13.5% revenue growth, but profits drop sixfold
Latvian industrial flooring producer Primekss reported €51.1 million in revenue for 2024, up 13.5% from the previous year, while net profit fell sixfold to €0.57 million, according to Firmas.lv. The company provides construction services in Latvia, the Nordic countries, Lithuania, Estonia, Germany and Israel, and exports construction materials to the US.
Primekss continued investing in product improvement and new markets during the year, focusing on process quality and expanding sales. The company, founded in 1997 and owned by Primekss Group Switzerland, specializes in industrial concrete floor systems used in logistics, automotive and energy projects.
Context: Primekss is one of Latvia’s few global-scale industrial engineering exporters, competing on technology rather than raw materials. The company’s slowdown in profits reflects the broader construction sector squeeze from high input costs and delayed commercial projects in Northern Europe.
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