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Report on VNT results in 2016

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Report on VNT results in 2016

january 10, 2017 / News

During past 12 months ““Ventspils nafta” terminals” Ltd. (VNT) has handled 7.5 million tones of cargo in Ventspils port. As one of major employers and important companies in Kurzeme region, VNT has donated and invested more than 310 000 EUR into support projects.

“Last year results were below our initial expectations for 2016. The transhipped volume was affected by a decline of Russian originated flows and company operations were overshadowed by uncertainty experienced in the business environment in Latvia. However despite challenging conditions and lack of confidence in Latvia as an attractive location for investments, the company was able to manage its overall performance. In addition to its core activity, VNT was able to make significant social contributions to the community, a key to running a sustainable and socially responsible company,” states VNT Managing Director Lars Pantzlaff.

In 2016 VNT started the main projects for the terminal’s further development – pipeline modernisation and installation of the vapour recovery unit. These projects will allow the terminal to provide greater and more efficient services in the future.

In 2016 VNT had successful cooperation with Ventspils University College and Riga Technical University, by giving lectures, organising excursions and participating on Career Days. VNT has welcomed 17 interns from Latvia and abroad. Many organisations have received financial support, including hockey club “Venta 2002”, volleyball club “Ventspils” and other Ventspils athletes. VNT has been providing its support to the orphanage “Selga” since its foundation, by supporting the participation of children in sports camps, theatre trips, and international travel. Furthermore, VNT employees are actively involved and regularly donate necessary items to the orphanage. VNT is paying special attention to its retirees – over the years the company has been supporting several culture events, supplied gifts for festivities, as well as provided transport for excursions. North Kurzeme Regional Hospital received modern blood pressure monitors, Ventspils schools and other organisations were provided with a free of charge bus for excursions, and support was provided to Ventspils city Festival. In 2016, total amount of donations and support exceeded 310 000 EUR.

The performance of the company was also recognised by governmental and non-governmental organisations. In 2016, second year in a row VNT received Platinum award in the Sustainability Index, and the VNT contractor safety improvement program was awarded “Responsible business initiative of the year” on CSR idea market. The Employers' Confederation of Latvia named VNT Best Employer in Kurzeme Region, Ministry of Welfare granted a status “Family friendly company”. Furthermore the Ministry of Environmental Protection and Regional Development awarded VNT “Bicycle Friendly Company” for active promotion of cycling culture.