“Vilniaus bald” had a successful half-year, EBITDA increased more than 9 times

During the months of September and February, the group earned 6.7 million. EUR net profit, and EBITDA (profit before tax, salary and depreciation) was 10 million. Eur.

At the same time, the company’s net losses for the year amounted to 2 million. EUR, but EBITDA was positive and reached 1.03 million. Eur.

The results of this half-year illustrate the purposeful work of the company, which pays off both in the face of severe economic uncertainty and in the pursuit of long-term goals. Since moving to a new factory, we have been increasing efficiency, production flexibility, improving quality and energy resource utilization. Such actions ensured profitable operations, growing EBITDA and sales, despite the fact that in the second quarter, the effect of seasonality is felt as poor, although weaker than a year ago, comments Jonas Krutinis, CEO of Vilniaus baldai AB, in the company’s announcement.

According to J. Krutinis, there is currently no significant change in global demand. Aggregate demand remains stable. He adds that the production flow will continue to be improved, and investments will be made in process automation to ensure the sustainability of the results achieved.

In the second quarter of the financial year, the sales of AB Vilniaus baldai amounted to 23.36 million. Eur and were 14% higher than in the same period a year ago. In the second quarter, the company earned 2.54 million. EUR net profit, and EBITDA was 4 million. Eur.

Last year, during the same period, Vilnius furniture received 1.5 million. EUR net loss, while EBITDA was 0.03 million. Eur.

Vilniaus furniture’s specialization is the production of lightweight constructions. All the company’s products are sold at IKEA.