Baltisches Haus achieved remarkable financial growth in the past year as its consolidated audited revenue reached EUR 47.56 million, an increase of 14.44% compared to 2022. Excluding the impact of a one-off real estate transaction in 2022, the company\u2019s EBITDA (earnings before interest, taxes, depreciation, and amortisation) in conjunction with its subsidiaries, increased by 13.63% to EUR 29.93 million last year. In total, the Group generated a net profit of EUR 16.95 million, an increase of 16.02% compared to 2022.<\/p>\n
\u201cThe increase in sales revenue compared to 2022 was mainly driven by an increase in rental and sublease income (EUR 3.64 million), as well as an increase in income from operating services (EUR 2.67 million). The increase in rental and sublease income is a result of newly-signed or renewed lease contracts and an increase in income due to the indexation of rental prices. The increase in income from operating services was mainly affected by higher prices for energy resources and maintenance services,\u201d says Audrius Masionis, Director of Baltisches Haus.<\/p>\n
The rise in the company\u2019s net profit was mainly propelled by an increase in gross profit, which was facilitated by the growth in income from rentals, subleases and operating services. According to the company\u2019s support policy, 4\u20135% of net profit is allocated every year for funding purposes.<\/p>\n
\u201cFor two decades, we have been consistently and purposefully supporting educational, cultural, artistic and social welfare organisations. In 2023, the total amount of support for all partners amounted to EUR 0.93 million,\u201d says A. Masionis.<\/p>\n
The Group\u2019s cost of sales experienced an increase of 9.19% to EUR 24.83 million, while operating expenses rose by 12.07% to EUR 3.25 million over the course of the year.<\/p>\n
A. Masionis admits that the biggest challenge in 2023 which remained unmet was the timely implementation of planned development projects.<\/p>\n
\u201cIn recent years, due to constant legislative changes, reforms, longer and more frequent coordination procedures and a more difficult to predict macroeconomic environment, the process of decision-making and implementation in both the public and private sectors has become longer. This leads to longer implementation timelines, higher costs and lower profitability of development projects. In response, we are investing in making our business processes more efficient, digitalising them, and increasing our project management competences,\u201d he says.<\/p>\n
For this year, Baltisches Haus expects to achieve a similar target of EUR 47.95 million in revenue and EUR 17.6 million in net profit. The company plans to invest EUR 20 million.<\/p>\n
At the end of 2023, Baltisches Haus owned the subsidiary property rental companies Limada, Megapil\u0117, and Terra Regina.<\/p>\n
The average number of employees within the Group during the last year was 49.<\/p>\n","protected":false},"featured_media":2224,"template":"","class_list":["post-2227","naujienos","type-naujienos","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\n