The income of “Vilniaus baladi” grew by 9 percent in half a year, the loss was replaced by a profit | Business

In half a year – from September 2023 to February this year – the company earned 6.7 million. net profit of EUR 2 million a year ago. EUR loss, its profit before interest, taxes and depreciation (EBITDA) amounted to EUR 10 million. euros – ten times more (1 million euros), “Vilniaus Baldai” reported.

According to the manager of the company, Jonas Krutinis, the financial results were greatly influenced by the move to a new factory.

“Since moving to the new factory, we have been significantly increasing efficiency, production flexibility, and improving the use of energy resources. Such actions ensured profitable operations, growing EBITDA and sales, despite the fact that in the second quarter, as usual, the effect of seasonality is felt, although weaker than a year ago,” J. Krutinis said in the report.

According to him, global demand is not changing at the moment: “Overall demand remains stable, we continue to closely monitor the situation.”

In the second quarter of the financial year alone, “Vilniaus baldai” received 23.4 million. EUR of income (14 percent more) and earned 2.5 million. EUR net profit (a year ago – EUR 1.5 million loss). The company’s EBITDA reached 4.1 million. euros and was 44 times higher (0.033 million euros).

“Vilniaus baldai” received 97.9 million during the 2022-2023 financial year. EUR consolidated sales revenue – 3 percent. less than the previous year (100 million euros) and earned 1.52 million. EUR net profit – 2 percent. less (1.55 million euros). For those years, the company did not pay dividends and 23 million. euros of distributable profit was transferred to the next year.

87.67 percent The shares of “Vilniaus baladi” are owned by the company “Invalda privatus kapitalas”, 12.33 percent. – private investors.