Lithuanian transport company Girteka Logistics reported record-breaking growth in 2018 – sales revenue amounted to €764 million, which in comparison to 2017 means an increase of 37%. Moreover, last year the company employed almost 4,000 new people, increasing its staff to 15,000 employees.
Europe is the main market for our growth. We have managed to do this by maintaining and strengthening our cooperation with existing customers and signing new contracts with global players,” Edvardas Liachovičius, CEO of Girteka Logistics, summed up the company’s activity in 2018.
Net profit – EUR 19 million
Girteka’s balance sheet in 2018 amounted to over EUR 764 million in revenue, i.e. 37% more than in 2017. Meanwhile, net profit increased by 64% to €19 million.
Cash flows from operating activities (depreciation, elimination of financial and investment activities, decrease in receivables from group companies, etc.) amounted to EUR 1.55 million and the net cash flow from investing activities (acquisition of fixed assets, interest on loans granted, interest, etc.) amounted to EUR 25.96 million.
Development of the group in Europe.
Last year, Girteka opened a transport branch in Komorniki near Poznań, where the carrier plans to employ 750 drivers and have over 300 trucks with Polish registrations by the end of the year.
In addition, Lithuanians also opened a new company in Germany, in Baden-Württemberg. Thanks to this, the company hopes to implement the development plan, which assumes an increase in the fleet of trucks to 10,000 tractors and semi-trailers and 20,000 professional drivers.
The plan for the new establishments of the potentate is dictated, among other things, by the threats posed by the Mobility Package and the shortage of professional drivers.
Currently, the carrier has 6,000 vehicles and employs 15,000 people, of whom 12,000 are professional drivers. 42% of office workers are women. By 2021, a complex of Girteka administrative buildings, a truck service centre and a shopping and service centre will be built in Vilnius. The cost of the investment will amount to EUR 60 million.