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International Internet Magazine. Baltic States news & analytics Wednesday, 27.05.2020, 05:32

UPB Group's turnover increases 27% to EUR 190 mln in 2018

BC, Riga, 01.02.2019.Print version
According to preliminary estimates, UPB Group of industrial enterprises posted EUR 190 mln in turnover last year, which is 27% more than in 2017, as UPB Marketing and Communications Department Director Ilze Rosicka told LETA.

"Work on expansion of export markets and construction of industrial projects in the previous years resulted in a significant increase in UPB Group's turnover last year. The total value of the group's companies has not yet been calculated, but it is estimated at about EUR 9 mln to EUR 10 mln. In 2019, the group's turnover will remain at least on the 2018 level or possibly increase," said Rosicka.

At the beginning of last year, UPB founded digital solutions company Alto 4.0, at the end of June, a new engineering office opened in Lithuania, and at the end of the year engineering bureau Buve un Forma joined the group. UPB has made large investments in production and technology, and started several research projects for the development of innovative products, said Rosicka.

The largest construction projects implemented in Latvia last year included IKEA shopping mall and a track and field stadium at Liepaja Olympic Center. The biggest projects currently under way are construction of a tennis hall in Liepaja and a hangar at the Baku Airport.

The main projects completed on other markets last year were the Regionens Hus building in Gothenburg, St. Erik Eye Hospital in Solna and office building Sky City Office One in Arlanda, Sweden. At the moment, construction of Campus Albano and office building Stockholm New is under way in Sweden, said Rosicka. The company's active work on safety solutions is recognized by customers - Skanska, one of the largest construction companies in Sweden, declared office building Epic, built by UPB in Malmo, the safest new building in Sweden in 2018.

UPB is one of the largest industrial groups in the Baltics, whose core business is complex building construction, including the design, production and assembly of structures. The largest companies of PB Group include MB Betons, RK Metals, Aile, UPB Energy and UPB Nams. At the moment, UPB employs more than 1,700 people. UPB has representations in ten countries: Latvia, Sweden, Great Britain, Ireland, Norway, Denmark, Germany, Switzerland, Belarus and Azerbaijan.


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