[ad_1]
Consolidated sales revenue from the audited activity of the international group of companies Modus Group operating in the fields of renewable energy, mobility services and automobile trade in 2019. increased by almost 50 percent. and exceeded 504 million. euros Last year, the Group constantly increased investments in various areas of activity in Lithuania and foreign markets, compared to 2018. Investments increased 2.5 times to almost 159 million. euros[*]
“The macroeconomic and investment environment in 2019 allowed us to continue active development and increase investments in the main areas of activities of the Modus Group. This has contributed to solid and sustainable revenue growth, which for the first time in the group’s history has exceeded $ 0.5 billion. euro threshold Revenue was boosted by the development of renewable energy in foreign markets: Poland, Ukraine, Belarus. CityBee’s successful expansion into the Baltic States, the tripling of the number of customers and the introduction of new services also contributed to this growth. It was also a very successful year for the group’s auto business segment, “says Dr. Kęstutis Bagdonavičius, Chairman and Chairman of the Board of the Modus Group.
According to him, last year the participation of the group’s projects in foreign markets continued to grow rapidly. Green Genius, a group company operating in the energy field, opened new biogas plants in Belarus, implemented large solar energy projects in Poland and Ukraine, and developed projects in other European countries. Meanwhile, CityBee has expanded its operations to Latvia and Estonia. Modus Group companies currently operate in 12 European markets.
Fastest revenue growth in 2019 fixed in energy and mobility fields. The income of the energy companies belonging to the group increased by 129 percent. and amounted to more than 63 million. euros The income of companies related to mobility services increased by 89%. and amounted to almost 38 million. euros Revenue in the auto trade segment grew 39 percent. – up to more than 400 million euros
Most of the group’s investments in 2019. were focused on two strategic directions: the development of green energy and innovative mobility services businesses in foreign markets. Investments in the energy sector accounted for most of all investments and totaled almost 136 million. euros Compared to 2018, they increased 170 percent. Investments in mobility increased 111% last year. and exceeded 21 million. euros
“Mobility and renewable energy will continue to be the group’s priority investment areas. Of course, the pace of development and business plans, like many other organizations around the world, will be adjusted this year to take into account the changed global situation. Due to the pandemic and the economic challenges it poses. In the short term, the health of our employees and the sustainability of our business are paramount. However, in the long term, we will continue to strive to implement our international development plans. At the same time, the changed situation opens up opportunities for companies to enter new areas of activity and offer new services to customers. This is already being done successfully by the CityBee group mobility company, which has started to provide delivery services.“Says Dr. K. Bagdonavičius.
According to him, the rapid development abroad last year was facilitated by the trust of international partners and investors. These include Aberdeen Standard Investments, one of the world’s largest asset management companies, the European Bank for Reconstruction and Development (EBRD), and the French investment fund Eiffel Investment Group. “These partnerships are the result of the experience we have gained and the reputation we have earned. They will also be invaluable in implementing the vision of international development in the future,” says the head of the Modus Group.
The Group’s profit before interest, taxes, depreciation and amortization (EBITDA) in 2019 amounted to more than 55 million. 16 million euros It was earned by the group companies that operate in the energy field, almost 10 million. – automobile trade companies, 2 million. – mobility services. More than 26 million. EBITDA from other activities (including Group transactions, such as the sale of the BMW and Mini car sales business in Lithuania and non-essential activities such as property gains). The Group’s audited consolidated operating profit before tax amounted to more than LTL 43.6 million. euros 2019 Modus Group reinvested the profit obtained in greater commercial development and new projects.
Reference to Modus Group performance results for 2019. publication review.
“Modus Group is an international group of companies mainly active in the field of renewable energy (Green Genius), mobility services (CityBee) and car sales. The group operates a network of car dealerships, including Porsche, Fiat, BMW, Bentley, Maserati and others.
More information: www.modus.group
Contact person:
Ugnė Bartašiūtė
Communication manager
The p. [email protected]
Mob. +370 614 74 046
[*] Modus Group has adopted a decision on the group’s financial statements for 2019, provided in accordance with International Financial Reporting Standards (IFRS). To comply with this decision, the Group’s accounting policy was modified. January 1 complies with IFRS requirements. Therefore, the Group has adjusted the amounts previously presented in the financial statements in accordance with the corporate accounting standards of the Republic of Lithuania.
The BNS Press Center publishes press releases from various organizations. The people who published them and the organizations they represent are responsible for the content of the notices.
[ad_2]
