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 full 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 year 2022 proved that timely and essential decisions have been taken in the past and are bringing results.
“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 Mr. Liachovičius.
Last year, the former main operating company of the Group, Girteka Logistics UAB, was split into three separate logistics companies as well as a competence centre, where finance, IT, marketing, communications and other service functions are now concentrated. Girteka also established a new head office in the Girteka Park in Vilnius (Lithuania), moved to a new base in Poznan (Poland) and opened a business service centre in Tbilisi (Sakartvelo).
However, as Mr. Liachovičius points out, this current year is not likely to be an easy time for the industry and will require consistency and adaptability.
“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,” says Mr. Liachovičius.
Girteka Group, which operates the largest owned fleet in Europe, delivers more than 776,000 full loads annually and manages more than 9,200 trucks and 9,800 semi-trailers operating in Europe and Scandinavia. More than 23,000 employees provide daily transport services to customers, including the world’s biggest brands.