2017 08 10

Press Release

Mitnija will grow 20 percent in 2017, forecasts EUR 83 million in sales

Mitnija, one of the largest construction companies in Lithuania, achieved nearly EUR 33.9 million in sales during the first half of 2017, 24 percent more than during the first half of 2016, when sales reached EUR 27.4 million. This year, the company expects to reach sales of EUR 83 million, i.e., 20 percent more than in 2016 (almost EUR 69 million).

On August 1, 2017, Mitnija’s orders backlog totals nearly EUR 150 million. This year, the company will receive 90 percent of sales from private sector clients and 10 percent from the public sector.

Julius Gendvilis-Mitnija-01

Julius Gendvilis, CEO of Mitnija, is optimistic about 2017, as a successful implementation of the company’s strategy enables stable growth and strengthens its leading position in the construction market in Lithuania.

“I am pleased that our strategy has proved successful – we work for the largest Lithuanian and foreign companies that invest in real estate, such as Akropolis, Maxima LT, Aibė, Apranga, Technopolis Lietuva, M.M.M. Projektai and Eternit Baltic. We are also trusted by clients such as NATO and the US Army – we became their construction partners in Lithuania and Latvia by helping modernize the military air force bases in Šiauliai and Lielvārde. In addition to that, this year we are successfully continuing our activity in the United Kingdom and continue to expand our Design & Build service. I am especially proud that we have established long-term relationships with many of our clients. This is one of the key principles of our company’s strategy and proof of our professionalism and reliability.”

In 2017-2018, Mitnija will continue to implement its strategy in a consistent manner:

  • Mitnija will mostly focus on the quality of work, professional client service and long-term relationships with its clients.
  • The company will seek to expand more robustly in other stable European markets, thus diversifying its sales and reducing risks.
  • The company will mainly work with private sector customers. However, it will also be actively involved in tenders for public buildings and infrastructure projects, provided they meet high standards of transparency. Mitnija has extensive experience with such projects. It will thus continue to offer its knowledge and services in this area.
  • It will continue to take on only profitable orders, ensuring positive cash flow, and will pay even more attention to management and control of related risks at the project level.
  • Mitnija will further promote professional and personal development of employees and will invest in the development of new innovative services.
  • The company will pay special attention to sustainable business development and social responsibility.

About Mitnija
Mitnija is one of the largest construction companies in Lithuania. In 2016, Mitnija’s sales totaled almost EUR 69 million. The company has more than 350 employees. Mitnija builds commercial, residential and industrial projects and specializes in the construction of infrastructure projects. Mitnija is certified and complies with ISO 9001 international quality management and ISO 14001 environmental management standards.