“Arginta Engineering, with operations in Vilnius, Panevėžys and Outokumpu (Finland), generated EUR 28 million in 2021. Consolidated revenues of €1.5 billion in 2020 – almost double the amount in 2020. At the same time, EBITDA profit amounted to EUR 1.5 million. euros.
Arginta Engineering’s consolidated revenue is expected to more than double this year and exceed EUR 64 million. euros. EBITDA in 2022 is also expected to be. will grow by a factor of around 2.5 to reach 3.8 million. euros.
According to Tomas Jaskelevičius, the company’s CEO, the biggest influence on Arginta Engineering’s growth has been the acquisition last year of Outotec Turula Oy in Finland, which has more than 40 years of experience in the equipment manufacturing and engineering industry.
“This investment has not only allowed us to significantly increase our production capacity and turnover, but also to offer our customers a more diversified and expanded range of services. Looking at this year’s results, we can already say with confidence that 2022 will be even more successful for Arginta Engineering than last year. If the forecasts are correct, we will have more than quadrupled our revenues from 2020, when the company’s turnover was EUR 15 million,” says T. Jaskelevičius.
The expansion of Arginta Engineering in Panevėžys will also guarantee stable growth in the coming years. Already in 2023. The company’s modern factory in northern Lithuania will open its doors, with up to EUR 15 million to be invested in three expansion phases. euros.
All activities in the current leased plant in Panevėžys will be transferred to this plant. The new production building will be a supplier of intermediate products to the Vilnius and Finnish plants. The latter aim to assemble and test the final product. At the same time, the design activities of the equipment manufactured in Arginta Enginering’s plants will be expanded in Vilnius.
The Panevėžys plant is expected to employ more than 100 people in the first phase of the expansion, and more than 300 new team members in the coming years.
However, T. Jaskelevičius points out that Arginta Engineering’s growth is well illustrated not only by revenue growth or significant investments, but also by an increase in the number of employees across the Group.
“We are continuously strengthening our team – in Vilnius, Panevėžys and Outokumpu (Finland). We plan to have a total workforce of over 400 people by the end of this year. We have no doubt that in the future, the factories will be staffed by even more experienced specialists in various fields – designers, automation engineers, programmable machine operators, welders, locksmiths, etc.,” says the CEO of Arginta Engineering.