Civinity H1 2022 results: revenues rise by 50% and reach €34 million

Civinity H1 2022 results: revenues rise by 50% and reach €34 million

During the first half of 2022, Civinity, one of the largest facility management and engineering solutions groups in the Baltic states, earned almost €34 million. The group’s consolidated profit exceeded €7.2 million while EBITDA grew by almost half – up to €2.16 million.

Operating across Lithuania, Latvia, and the UK, Civinity earned €33.823 million over the first six months of 2022, or 56% more than during the same period in 2021 when the group generated €21.59 million of revenues. Civinity’s consolidated profit increased by 28% – up to €7.216 million while EBITDA exceeded €2.161 million.

The main growth stimulant came from the commercial facility management and the engineering solution segment with a 130% increase in revenues (€18.848 million). In the UK, the group’s revenues reached €5.7 million.

“Over the past few years, we have consistently diversified both our activities and the geography. The indicators we see this year are the result of long and consistent work that reflects a significant change in the group’s history,” said Deividas Jackas, the Chairman and CEO at Civinity.

In H1 2022, Civinity completed the acquisition of 100% of shares of Inservis, Priemiestis, Jurita, and SIA Inservis, consolidated some of its Lithuanian activities with Servico, as well as became a pre-seed investor for a talent management platform MELP.

“The first half of the year was quite productive for us. Six new companies joined our group, we merged some of our activities with Servico, and actively invested in digital customer experience solutions. In addition, we worked a lot on further improving internal processes, increasing customer satisfaction rates, and exploring new solutions. All this allowed us to maintain positive growth dynamics and exceed the results of the pandemic period,“ says Deividas Jacka.

Civinity is one of the largest facility management and engineering solutions groups in the Baltic states. The company unites more than 40 companies that manage 13.5 million sq. m. of residential and commercial buildings, as well as cleaning areas. The group has also installed several thousand engineering systems across various European cities. Civinity’s team unites 2000 employees in Lithuania, Latvia, and the UK. In October 2022, Civinity successfully completed a public bond issue of €8 million that is currently listed on the alternative securities market operated by Nasdaq Vilnius.