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Thursday, 25.04.2024, 06:48
Lithuanian Vilniaus Baldai posts profit of EUR 800,000 in Q1
BC, Vilnius, 24.04.2015.
Print version
Print versionIn the first quarter of 2015, furniture manufacturer AB Vilniaus Baldai posted revenue of EUR 16.5 million, while net profit amounted to EUR 818,000, informs LETA/ELTA.
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Meanwhile In the first quarter of 2014 revenue stood at EUR 15.3 million and net profit at EUR 1.6 million.
January-March 2015 compared with the first three months of 2014 EBIDTA of the company fell by 30% from EUR 2.1 to 1.5 million. The decrease was caused by investment into new technologically complicated children's room furniture product and other manufacturing capacities.
According to Rimantas Vaitkus, AB Vilniaus Baldai Director General, in the first quarter 2015 production output increased by 18% year-on-year, mostly due to the upgrade of the second factory.
AB Vilniaus Baldai exports most of its produce to the Swedish concern Ikea. The company employs 650 people.
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