Civinity Group’s revenue reached EUR 87.7 million last year, EBITDA almost doubled
2024.04.30
Civinity, one of the largest building maintenance and engineering solutions groups in the Baltics, had a very successful year in 2023, with revenue growing by 23% to EUR 87.7 million and EBITDA by 73% to EUR 7.12 million.
Last year, the Group’s revenue was EUR 16.47 million higher than in 2022 (2022: EUR 71.23 million) and EBITDA grew by EUR 3 million (2022: EUR 4.12 million). The Company’s consolidated net profit reached EUR 2.57 million last year and was EUR 1.79 million higher than in 2022 (2022: EUR 0.78 million).
According to Virgeda Jackaitė, CEO of Civinity Group, during 2023 the Group focused on the integration of Inservis Group and Servico, acquired in 2022, as well as on improving the efficiency of all the Group’s businesses:
“Last year, we focused on reviewing business processes, employee efficiency, automation of simple tasks, as well as the integration of the acquired companies, moving towards common systems, processes, customer service standards and internal organisation culture. We are pleased to see that these initiatives have already delivered their first results in 2023. We expect to see an even greater impact this year,” says Jackaitė.
According to the Group CEO, this year the company will focus on growth in its core residential, commercial and engineering business segments, both organically and through acquisitions, as well as on introducing solutions related to sustainability and environmental protection:
“In addition to growth in our core business segments, this year we are also focusing on multi-family modernisation/renovation projects, evaluating the opportunity to install and service solar power plants and provide green energy solutions to our customers. We are also considering investing in charging solutions for electric vehicles, tailored to the needs of apartment building residents,” says Jackaitė.
Improving the quality of services remains a priority for the Group, according to the CEO of Civinity:
“One of our top priorities is to improve the quality of our services year on year. Last year, we set up the Civinity Academy, where all our employees are trained to improve their competences and receive the latest knowledge and skills required for their work. We see that employee development has a positive impact on both customer and employee satisfaction, and we will continue to develop this initiative,” comments the Group’s CEO. Civinity is one of the largest building maintenance and engineering solutions groups in the Baltics. The company brings together more than 30 companies that maintain 10 million sqm of residential and commercial buildings and have installed hundreds of engineering systems in different European cities. In 2023, the Civinity team had over 1,500 employees in Lithuania, Latvia and the UK.