Moduls Engineering ends 2017 with profit growth

Moduls Engineering financial results for the year 2017 reflect company’s streamlined operations and growth in the utility and electrical network segment. Turnover in 2017 was EUR 10,687,539, which is almost 14 % more than in 2016. Our profit reached EUR 983,739 and the company’s capital went up from EUR 1,171,631 in 2016 to EUR 2,155,370. 

‘For Moduls Engineering, 2017 was marked with a number of significant events related both to the structural changes in the company and several technologically complex projects. Some of the most important projects in 2017 were VEF Culture Palace stage upgrade and design and installation of the stage equipment and design of the utility and electrical networks for Latvenergo. The new National Theatre annex was a technologically challenging project, too. Other significant 2017 projects included Valmiera Swimming Pool, Grand Hotel Kempinski Riga, Mežaparks Great Bandstand, French Lyceum and Data Centre and each of those projects was a technologically complex and extensive one’, said Jevgeņijs Savčuks, Moduls Engineering Member of the Board.

Strengthening the company’s position, Moduls Engineering will invest the 2017 profits in its further development. Currently, our largest projects include dismantling of the interior power supply networks and installation of the new low voltage and electrical networks in an administrative building, design and installation of the interior power supply networks for the social housing construction project, as well as the construction of LEGMC hydrological monitoring stations. In 2018, Moduls Engineering participated in the French Lyceum renovation project where it designed and installed the utility systems ensuring modern environment appropriate for the studies in the Rīga French Lyceum and also designed and installed decorative façade lighting.

Moduls Engineering is a part of AS MN Holding group of companies, and 2018 is its 24th year in business. During that time, the company grew from a lighting fixture retailer into one of the leading companies in the utility and electrical network sector.