Photo: Judita Grigelytė (VŽ)

CEO of KGCG: we do not plan to undertake projects in Lithuania next year


“KG Constructions Group” plans to receive 70-80 million this year EUR income. Linas Karžinauskas, CEO of “KG Constructions Group”, VŽ says that the company has already agreed on projects in 2024, the value of which is 100 million. Eur, but so far all projects are not in Lithuania.

According to the consolidated financial report, “KG Constructions Group” increased its turnover by 48% last year: from 40.3 to 59.8 million. Eur. Cost of sales in 2022 amounted to 50.2 million Eur. It grew by 53% during the year. The group experienced a net loss of EUR 489,000 last year, when in 2021 she earned almost 2 million Eur.

Group earnings before interest, taxes, depreciation and amortization (EBITDA), excluding other operating results, were 1 million. EUR, when compared to 2021, EBITDA was almost 4 million. Eur.

“KG Constructions”, the largest and main company of “KG Constructions Group alone”, received 51.7 million. EUR, 2021 – 32 million EUR income. The company’s net profit was 1.6 million. Eur, or 27% less than last year.

According to Karžinauskas, the growth of the company’s income is “very impressive”, while the decrease in profit and EBITDA was caused by higher prices of raw materials and higher wages.

Plans a turnover of one hundred million

The interviewer says that the company has already agreed on projects worth 100 million for next year. Eur.

Speaking about ongoing projects, L. Karžinauskas says that this year up to a fifth of all revenue will be received in Lithuania, but the company may not have any projects here next year.


Will focus on efficiency

According to L. Karžinauskas, the company is now focusing on increasing efficiency.

The manager of “KG Constructions” says that the group has almost 600 employees, and only 100 people have been hired at the new factory.

According to him, the company does not face difficulties in finding employees, because people tell each other about the working conditions.

“We offer employees good conditions. Workers work in bright rooms, have rest areas, canteens, changing rooms, and showers. The administration has a sports club, a basketball court, and tennis courts,”- he says.

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