EIKA Development, separated from EIKA Group since the beginning of 2024 and operating as a separate company, has significantly increased its revenue in the areas of construction management, asset management, development management and brokerage this year. The company’s CEO Martynas Žibūda says that such results are achieved due to the increase in orders from external clients – the already successfully implemented projects have helped to establish the message in the market that EIKA Development works not only with companies related to EIKA Group.
M. Žibūda predicts that EIKA Development’s total revenue will grow by 27 percent this year, from EUR 5.8 million in 2024 to EUR 7.4 million in 2025.
The largest growth, 44 percent, is expected in the field of construction management – last year, revenue from this activity amounted to just over 2 million euros, and this year it should reach almost 3 million euros.
In the area of development management and brokerage, EIKA Development earned 1.8 million euros in revenue last year, this year it should reach 2.4 million euros, so the growth will reach 33 percent. A similar, 31 percent growth is planned in the area of property management – in 2024 this activity brought the company just over 1 million euros, in this year’s plan – 1.4 million euros. EIKA Development predicts a decrease in revenue from 0.9 million euros last year to 0.6 million euros this year only in the area of design management.
One of the most important goals that EIKA Development has set for itself is to increase the share of external clients. It currently stands at 19 percent, but in some areas it is significantly higher. For example, in the property management department, out of 24 buildings managed, 14 belong to external clients, the largest of which is EfTEN Capital, which has entrusted the management of as many as 7 buildings.
“Most importantly, we see that the share of revenue from external clients continues to grow. This year alone, EIKA Development has completed the implementation of such external client projects as the Kika factory in Kaunas, the soon-to-be-completed Mestilla oilseed processing and biodiesel plant in Klaipėda, and the Lithuanian Bar Association House in Vilnius,” says the head of EIKA Development.
“The growing circle of external clients and new orders coming from them show that we are successfully applying our accumulated experience in different areas of activity,” says M. Žibūda.