2018 08 23

Press Release

Mitnija, now Lithuania’s largest construction company, predicts 30 percent growth in 2018

During the first half of 2018, Mitnija’s sales totaled EUR 40.6 million – almost 20 percent more than during the same period last year (EUR 33.9 million). Mitnija’s full-year 2017 sales reached EUR 82.7 million, 20.4 percent more than in 2016 (EUR 68.7 million). The company predicts sales of EUR 110 million in 2018. Its current order backlog is EUR 140 million.

In 2017, 91 percent of sales came from the private sector and 9 percent from the public sector. Mitnija predicts that 97 percent of 2018 sales will come from private sector contracts and 3 percent from public sector contracts.

In 2018, Mitnija became the largest construction company in Lithuania (not including companies specializing in the road and rail infrastructure construction sector).

Mitnija CEO Julius Gendvilis says that in 2018-2019, the company plans sustainable and balanced growth, hoping to maintain its position as a leader in the Lithuanian market and to expand its operations in other stable European markets.

“This year, we became the largest construction company in Lithuania. I have no doubt that this is the result of the consistent implementation of our company’s strategy. Our priority has always been and will continue to be our clients and employees. We will continue to develop talented team members and ensure impeccable service for our clients. Mitnija will continue to accept exclusively profitable contracts and maintain positive cash flows. Project risks will be controlled in a professional and timely fashion. We will continue to expand our operations in the United Kingdom and Latvia as well as our Design & Build services and make our internal processes more efficient. We will also continue to increase our focus on work safety and environmental protection,” Mr Gendvilis says.

Mitnija is currently working with Merks, a Latvian construction company, to build the Akropole shopping and entertainment center in Riga. It is also building the second and third stages of the M.M.M. Projektai real estate development company’s S7 business center in Vilnius and the MG Valda real estate development company’s business and public complex in the new Paupys neighborhood. Among its other projects, Mitnija is continuing design and construction tasks for NATO and US military forces in the modernization of the Lithuanian and Latvian air force air bases in Šiauliai and Lielvārde, respectively.