2019-08-02

Half-year revenue of SBA furniture companies exceeded 150 million euros

SBA furniture company group, the largest such group in the Baltic states, increased its sales from 4.3 million euros to 150.8 million euros during the first six month of this year which is 2.9 percent more that during the same period of last year, when sales reached 146.4 million euros.

"By continuously investing in production efficiency, technologies and energy saving, we are able to withstand the pressure of the rising global prices of raw materials and growing competition in the furniture industry, and we are consistently increasing our sales. Results of the first half of the year show that our furniture group's plan to exceed 300 million euros of sales within this year is realistic," says Egidijus Valentinavičius, Vice President of SBA.

According to him, among the companies managed by SBA Furniture Group, "Klaipėdos baldai" increased its sales by 9.7 percent – up to 42 million euros during the first half of this year. "Visagino linija" increased its income by 8.7 percent – up to 40.8 million euros. The largest income growth of almost 11 percent – up to 15 million euros was observed in "Mebelain" located in Belarus. 

Over the past several years, record growth of income was also observed in SBA soft furniture manufacturing company "Kauno baldai". During the first half of this year, "Kauno baldai" sold almost a third more products for more than 10 million euros compared to the same period of last year. Such income growth was determined by an increased demand in the Netherlands for furniture collections developed by "Kauno baldai".

 "We share the benefits generated by expanding production and growing revenue of the furniture group companies with our employees by increasing their wages each year. During the first half of this year, the average wage in our production companies increased faster than the company group's sales," says E.Valentinavičius.

At the beginning of this year, SBA furniture sector had 3900 employees, which is 6.7 percent more than last year.

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