This post was automatically translated into English
The turnover of the Eika group is 143.6 million.
The turnover of the Eika group is 143.6 million.
The turnover of the Eika group of companies increased by 59 percent last year and amounted to LTL 143.6 million.
The turnover of the “Eikos” group is growing thanks to modern projects that are characterized by new conceptual solutions on the market, which determine the long-term value of the projects and the return on investment. Among the most important projects currently being developed by the “Eikos” group are the development of the “Eikos” housing estate in Pilaitė, the Santariškės settlement recognized as the best apartment building project of 2005-2006, and the most ambitious project of “Eikos” – “Jūros vartai”, the conversion of the territory of the “Klaipėda Ship Repair” factory into a shopping and entertainment-recreational zone.
Eika is implementing two projects together with partners: Jūros vartus – with the company Achema, and Santariškių namus – with the company Hanner. “The synergy of experience and strengths acts as a catalyst for market maturity, helping to create particularly complex projects. Market stabilization poses many challenges, so only insightful solutions will ensure excellent operational results,” says Robertas Dargis, director of Eika.
The group of companies consists of the real estate developer UAB “Eika”, the construction company “Eikos statyba” and the engineering systems installation company “Inžinerinės idėjos”, which started operations in December last year.
The largest part – 86 percent – of UAB “Eika”‘s revenues came from residential construction sales. Last year they grew by 58 percent and amounted to 89.2 million litas. For comparison, in 2005, residential construction sales were 51.7 million litas.
Last year, the company realized 43 percent more residential construction area — about 23 thousand sq. m. For comparison, in 2005, 16 thousand sq. m. were realized. It is planned that this year the realized residential construction area will also grow. According to R. Dargys, as the duration of project implementation increases, the majority of income may be transferred to 2008.
2006 was marked not only by the growth in the volume of residential construction projects, but also by the abundance of commercial projects. Eika is consistently increasing the share of long-term rental projects in its product portfolio.
The construction company “Eikos statyba”, which belongs to the group, grew more consistently. Its turnover increased by 27 percent to 40 million litas. For comparison, in 2005 it amounted to 31.2 million litas. Two-thirds of the work “Eikos statyba” performs in facilities built by “Eikos”. “Such cooperation ensures maximum quality management in all links. Although we are facing a shortage of quality labor, we plan to grow this year as well,” says Rytis Ivanauskas, director of UAB “Eikos statyba”.
The Eika group employs 360 people.
Real estate developer Eika, founded in 1992, is currently implementing residential and commercial construction projects worth 1.4 billion litas.