Unaudited Performance Results of Panevezio statybos trestas AB and the Group for the First Half of 2024

Referring to the unaudited data, over the first six months of 2024, the turnover of Panevezio statybos trestas AB amounted to 39.118 mln. Euros, that is by 2.7 per cents lower than over the first six months of 2023 when the turnover was 40.191 mln. Euros. In the first half of 2024, Panevezio statybos trestas AB incurred the net loss in the amount of 1.38 mln. Euros. Over the first half of 2023, the net loss amounted to 0.919 mln. Euros.

The company specializes in complex and long-term projects. In the first half of 2024, the projects the profitability of which was negatively affected by the geopolitical risks of the previous years and inflation influenced by these risks were in the process of implementation. In the first half of 2024, the company introduced several changes in order to increase efficiency of the operations: the management team was strengthened, the structure was simplified, etc. The significant contracts that will be implemented already in the coming financial periods have been signed.

Referring to the unaudited data, over the first six months of 2024, the consolidated revenue of Panevezio statybos trestas AB Group amounted to 53.36 mln. Euros, which decreased by 10 per cents compared to that for the first half of 2023 when the revenue of the Group had been 59.690 mln. Euros. Over the accounting period of the first half of 2024, the Group incurred the net loss in the amount of 2.25 mln. Euros. In the first half of 2023, the Group had the net profit in the amount of 4.228 mln. Euros. EBITDA of Panevezio statybos trestas AB Group for the six months of 2024 was negative and amounted to -1.05 mln. Euros whereas for the first half of the year 2023 EBITDA amounted to 1.972 mln. Euros.

The significant reduction of the result in subsidiaries is partly determined by the changes in the market situation. In response to this, the aim is to increase efficiency of companies by refining their work models and abandoning unprofitable activities.

More information:

Managing Director

Tomas Stukas

Tel.: +370 618 21360

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