{"id":1707,"date":"2023-06-30T17:00:35","date_gmt":"2023-06-30T14:00:35","guid":{"rendered":"https:\/\/ecobaltia.lv\/?p=1707"},"modified":"2023-06-30T17:00:38","modified_gmt":"2023-06-30T14:00:38","slug":"eco-baltia-group-closes-2022-with-the-historically-highest-turnover","status":"publish","type":"post","link":"https:\/\/ecobaltia.lv\/en\/2023\/06\/30\/eco-baltia-group-closes-2022-with-the-historically-highest-turnover\/","title":{"rendered":"Eco Baltia group closes 2022 with the historically highest turnover"},"content":{"rendered":"\n

The largest environmental management and recycling group of companies in the Baltics \u201cEco Baltia\u201d<\/strong> has closed 2022 with its historically highest consolidated turnover of EUR 210 million, representing a 75% increase compared to 2021. Eco Baltia’s total combined sales revenue (pro-forma) in 2022 amounted to 240.5 million euro, while EBITDA for the reporting period amounted to 25.4 million euro (19.7 million euro in 2021). These are the historically best Eco Baltia business results, demonstrating strategic and focused international growth.<\/strong><\/strong><\/p>\n\n\n\n

In 2022, the group’s businesses continued dynamic grow in line with its long-term strategy. In terms of business areas, Eco Baltia’s PET and plastic packaging recycling segment reached a turnover of EUR 100 million in 2022, while the environmental management segment – EUR 110 million.The overall increase in turnover was promoted by the acquisition of the company Ecoservice in 2021 and \u201cTESIL Fibres\u201d in September 2022. At the same time, total profit indicators of Eco Baltia have decreased by 9.5% to EUR 8.4 million last year, which can be explained due to a EUR 3.3 million revaluation of PET Baltija inventories.<\/p>\n\n\n\n

M\u0101ris Simanovi\u010ds, Chairman of the Board at Eco Baltia, describes the last year: <\/strong>\u201cDespite the challenges of fluctuating energy prices and the geopolitical situation, which had a significant impact on the international market, we have managed to further strengthen our positions at Latvian and global scale. The achieved results serve as proof that, even when adopting strategic decisions, conditions of nationwide crisis may also serve as a good basis for business growth. For example, the acquisitions of Ecoservice, the Lithuanian environmental management company, and TESIL Fibres, the leading Czech fibre producer, have enabled us to expand the group’s overall range of services. We have also made a number of investments in automation of various processes, which allowed us to both increase production capacity and address the situation in the area of related labour shortage, which is complicated in Latvia at the moment.” <\/em><\/em><\/p>\n\n\n\n

In mid-September 2022, Eco Baltia’s largest subsidiary PET Baltija, one of the largest PET recyclers in Northern Europe, completed the acquisition of 100% shares in TESIL Fibres, the leading Czech polyester fibre producer. This transaction puts PET Baltija on the regional map as a key player in the PET recycling sector. Whereas, in the middle of the year, construction of a new PET recycling plant in Olaine was commenced, with the planned investments of Eco Baltia exceeding 10 million. The total amount of planned investments for the plant, including those made by the developer, is expected to be around 35 million euro, and it will be one of the largest under-the-roof production facilities in Latvia. Last year, Eco Baltia’s plastic packaging recycling company Nordic Plast, investing EUR 2.8 million, launched a sorting line modernisation project, gradually increasing production capacity by up to 30%.<\/p>\n\n\n\n

Eco Baltia’s environmental management segment also showed solid growth in 2022, expanding its business portfolio and the companies\u2019 services. Both in Latvia and Lithuania, environmental management companies continued to invest in sorting and managing construction waste. Ecoservice invested in the extension and improvement of the existing construction waste sorting site, while Eco Baltia vide commenced construction of a new site. Besides, investments in the modernisation and improvement of fleet and technical equipment were made last year to ensure uninterrupted operations and the highest quality services for our customers.<\/p>\n\n\n\n

Last year, the total investments made by the group of companies in the development of the PET and plastic packaging recycling segment amounted to approximately 8.8 million euro, whereas, in the environmental management – 14.1 million euro.<\/p>\n\n\n\n

Vytautas Plunksnis, Chairman of the Council at Eco Baltia: <\/strong>“Last year, Eco Baltia managed to achieve one of the highest growth rates in the company’s history. A well-developed long-term strategy is the basis for ensuring that development is possible also in the face of unpredictable external market conditions. <\/em>Eco Baltia’s goal is to expand recycling options, and the concluded company acquisition deals will enable achievement of this goal, as well as promote interest from other market players, as we will be able to secure higher volumes of recycled materials and favourable terms of cooperation. From the moment of its foundation, Eco Baltia has proven its competitiveness at the Baltic and European level, and each new stage of its development is contributing thereto with gradually increasing rate.”<\/em><\/em><\/p>\n\n\n\n

In 2023, Eco Baltia plans to continue investing in the recycling and environmental management sectors and to gradually start production at the new PET Baltija plant, more than tripling its food-grade rPET production capacity while reducing rising energy and labour costs. This year, the group will continue working on promoting business-to-business cooperation, borrowing and introducing new services and improving full-cycle waste circulation processes. Besides, targeted investments will be made in the improvement of the skills of employees, working environment, improvement of labour safety and well-being of workers, as well as in the introduction of corporate sustainability, social responsibility and governance policies.<\/p>\n","protected":false},"excerpt":{"rendered":"

The largest environmental management and recycling group of companies in the Baltics \u201cEco Baltia\u201d has closed 2022 with its historically highest consolidated turnover of EUR 210 million, representing a 75% increase compared to 2021. Eco Baltia’s total combined sales revenue (pro-forma) in 2022 amounted to 240.5 million euro, while EBITDA for the reporting period amounted […]<\/p>\n","protected":false},"author":1,"featured_media":574,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-1707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/ecobaltia.lv\/en\/wp-json\/wp\/v2\/posts\/1707","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ecobaltia.lv\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ecobaltia.lv\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ecobaltia.lv\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ecobaltia.lv\/en\/wp-json\/wp\/v2\/comments?post=1707"}],"version-history":[{"count":1,"href":"https:\/\/ecobaltia.lv\/en\/wp-json\/wp\/v2\/posts\/1707\/revisions"}],"predecessor-version":[{"id":1708,"href":"https:\/\/ecobaltia.lv\/en\/wp-json\/wp\/v2\/posts\/1707\/revisions\/1708"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ecobaltia.lv\/en\/wp-json\/wp\/v2\/media\/574"}],"wp:attachment":[{"href":"https:\/\/ecobaltia.lv\/en\/wp-json\/wp\/v2\/media?parent=1707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ecobaltia.lv\/en\/wp-json\/wp\/v2\/categories?post=1707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ecobaltia.lv\/en\/wp-json\/wp\/v2\/tags?post=1707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}