In an announcement summarising the figures, Girteka described its results as “exceptionally successful”.
The 2022 data shows that Girteka Group’s consolidated revenue reached EUR 1.93 billion, up 34% compared to 2021, while profit before tax grew 114% to EUR 166.5 million. The Group’s EBITDA (earnings before interest, tax, depreciation and amortisation) amounted to €348.8 million.
Last year, the company revised its organisational structure and strengthened its operations in different geographic regions. It also changed its colours and branding, utilising a new “Responsible Logistics” slogan. Moreover, Girteka says it continued “rapid implementation of digitalisation processes” in 2022.
Commenting on the results, Edvardas Liachovičius, CEO of Girteka Group, said that driver recruitment played a key role.
“Last year, our strategy of having our own fleet of trucks with our own drivers was a competitive advantage that ensured the success of the company. With the logistics sector facing a shortage of drivers, investments in different geographic regions and improved working conditions helped us to attract new colleagues, enabling us to provide the necessary capacity and meet our commitments to our customers,” says Liachovičius.
Girteka’s announcement also touched on its decision to have Girteka Logistics UAB split into three separate logistics companies and a competence centre, where finance, IT, marketing, communications and other service functions are concentrated.
Other key developments cited by the company were its establishment of its new Vilnius head office, as well as the opening of a new base in Poznan and a service centre in Tbilisi.
Girteka’s CEO nonetheless warned that 2023 is not likely to be easy for the transport and logistics sector:
“The transport and logistics sector is extremely cyclical. If we ignore seasonality, we can see that demand for freight transport services started to decline in the middle of last year, so 2023 will be a difficult year. The success of the past year allows us to consistently continue investing in strategic projects such as the digitalisation of our operations, the continuous renewal of our fleet of trucks with a focus on sustainability and road safety, and the improvement of working conditions for our employees,” said Mr. Liachovičius.