“Civinity” grows sales by a third last year: plans to continue active expansion this year

“Civinity” grows sales by a third last year: plans to continue active expansion this year

“Civinity”, one of the largest building maintenance and engineering solutions groups in the Baltic states, had sales revenues of EUR 74 million in 2022. This is an increase of 34% compared to 2021. Group EBITDA grew by 21%. “Civinity plans to actively expand its range of services again this year.

“Our main goal is to ensure a comfortable everyday life for our customers. We have been taking care of hundreds of residential buildings and business centres for many years, but we want to go even further – to make living in the city more convenient. Therefore, we are actively analysing the needs of residents and planning the expansion of our range of services,” says Deividas Jacka, Chairman of the Board and General Director of Civinity.

The Group’s sales revenue grew in all areas of activity last year. Residential multi-apartment building maintenance services grew by 22% (EUR 34 million) and commercial building maintenance and engineering solutions by 94% (EUR 40 million).

“Civinity” gross profit was EUR 14 million (18% more compared to 2021). Consolidated EBITDA of the Group companies is EUR 4 million (18% more compared to 2021).

“Sustainable growth is driven not only by consistent expansion through diversification and rapid digitalisation of services, but also by a broadening geography. Last year, for example, we made our biggest breakthrough in the UK,” says D. Jacka.

Sales income  in the British market grew from EUR 400 thousand to EUR 11 million in 2022. In Lithuania it amounted to EUR 44 million, in Latvia – EUR 19 million .

Last year, the Group merged its activities with UAB “Servico” and successfully completed the acquisition of 100% of “Inservis”, “Priemestis”, “Jurita” and “Inservis” SIA.

“Applying modern solutions to ensure the best possible customer experience, constantly looking for new tools to make city living even more convenient, and improving internal processes. We are focusing on these areas as we grow our business,” says the Head of the Group.

About “Civinity”:

“Civinity is one of the largest building maintenance and engineering solutions groups in the Baltic countries. The company brings together more than 32 companies that maintain 13.5 million square metres of residential homes, commercial buildings and treatment areas, and have installed several thousand engineering systems in different European cities. “Civinity has 1,711 employees in Lithuania, Latvia and the UK. By mid-October 2021, “Civinity” has successfully issued EUR 8 million worth of bonds, which are listed on the “Nasdaq Vilnius” bond list.