A successful 2022 will allow Girteka Group to continue the investments

Girteka announces exceptionally successful financial results for 2022. Last year, 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.

The past year has been a period of dynamic change for the Group. Girteka renewed its organisational structure, strengthened its operations in different geographic regions, introduced a renewed brand and Responsible Logistics positioning, and continued the rapid implementation of digitalisation processes. Edvardas Liachovičius, CEO of Girteka Group, says that the 2022 year showed that timely and essential decisions have been taken in the past and are bringing the effects.

"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.

Last year, the former main operating company of the Group, Girteka Logistics UAB, was split into three separate logistics companies and a competence centre, where finance, IT, marketing, communications and other service functions are concentrated. Girteka also established a new head office in Girteka Park in Vilnius last year, moved to a new base in Poznan (Poland) and opened a service centre in Tbilisi (Sakartvelo).

However, the year ahead 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 Liachovičius.