Major construction companies saw 29.2% revenue growth last year – media

Lithuania’s largest construction companies saw their revenues growing by 29.2% to nearly EUR 2.95 billion last year, while their pre-tax profits rose by 3.6 times to EUR 209.93 million, Verslo žinios said Tuesday.

In 2022, the revenues of construction companies totalled EUR 2.28 billion while their pre-tax profits stood at EUR 57.87 million, according to the business news website. The former profitability of 3.03% was replaced by a margin of 7.69%.

Fegda was the biggest contributor to the 2023 revenue growth, with EUR 184.2 million (249.6% more than a year earlier). It was followed by Infes (EUR 107.3 million or 98.6% more) and Stiemo (EUR 87.4 million or 113.5% more). The highest revenue earners were Kauno Tiltai (almost EUR 193 million, up by 43.6%) and YIT Lietuva (EUR 191.1 million, up by 36%).

Last year, the biggest pre-tax profits were made by Stiemo (EUR 23.3 million), Fima (EUR 18 million), Tilsta (EUR 15.2 million) and Merko statyba (EUR 13.4 million). Four construction companies on the list reported losses – Tetas (EUR 9.21 million), Panevėžio statybos trestas (EUR 2.7 million), Top Rails (EUR 1.4 million) and Parama (EUR 665 thousand).

The results are based on the companies’ financial statements submitted to the Centre of Registers by 30 May. The TOP 1,000 list ranks the largest companies by revenue recorded in 2023.