Girteka Group reflects on successful 2022, braces for tougher times

Girteka Group.

Lithuania-based transport company, Girteka Group, said 2023 could be a difficult year, despite its strong financial results from last year.

In 2020 the company’s consolidated revenue reached €1.93 billion, up 34 per cent compared to 2021, while profit before tax grew 114 per cent to €166.5 million. But CEO Edvardas Liachovičius said this current year is not likely to be as easy for not just Girteka but the entire industry.

“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,” he said, adding that to combat uncertainty, Girteka will continue to invest in strategic projects such as digitalisation, truck fleet renewal and sustainability.

Last year, the former main Group, Girteka Logistics UAB, was split into three separate logistics companies, as well as a competence centre, where finance, IT, marketing and communications are now concentrated. Girteka also established a new head office in the in Vilnius, Lithuania, moved to a new base in Poznan, Poland and opened a business service centre in Tbilisi, Georgia.

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