{"id":3485,"date":"2024-07-31T12:33:21","date_gmt":"2024-07-31T12:33:21","guid":{"rendered":"https:\/\/www.ut.lt\/?post_type=naujienos&p=3485"},"modified":"2024-07-31T12:36:08","modified_gmt":"2024-07-31T12:36:08","slug":"utenos-trikotazo-grupe-per-pirmaji-pusmeti-uzdirbo-74-mln-eur-pajamu","status":"publish","type":"naujienos","link":"https:\/\/www.ut.lt\/en\/news\/utenos-trikotazo-grupe-per-pirmaji-pusmeti-uzdirbo-74-mln-eur-pajamu\/","title":{"rendered":"Utenos Trikota\u017eas Group Earns EUR 7.4 Million in Revenue in First Half-Year"},"content":{"rendered":"\n

In the first half of the year, the Utenos Trikota\u017eas Group sold products and provided services worth EUR 7.4 million, which is 36.2% less than in the same period last year, when sales reached EUR 11.6 million. More than 80% of the production was exported to Western European countries.<\/p>\n\n\n\n

\n

“The first quarter of this year was the most challenging, having a significant impact on the half-year results. We are now operating at full capacity until at least the end of the year. At the same time, we are actively seeking new customers, expanding our search geography, and continuing to implement efficiency measures, focusing on the company’s most profitable activities with the highest potential,” says Nomeda Kau\u010dikien\u0117, Head of Utenos Trikota\u017eas.<\/p>\n<\/blockquote>\n\n\n\n

Compared to the first half of 2023, the sales of the largest segment of the Utenos Trikota\u017eas Group \u2013 contract manufacturing \u2013 decreased by 41.6% to EUR 5.3 million, while the sales of its own brands decreased by 8.7% to EUR 1.08 million. The German-speaking region remains the largest export destination.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The Utenos Trikota\u017eas Group ended the half-year with a pre-tax loss of EUR 2.3 million, compared to a loss of EUR 0.9 million last year. The EBITDA indicator of the Utenos Trikota\u017eas Group is negative at EUR 1.6 million, while last year it was also negative at EUR 355 thousand.<\/p>\n\n\n\n

In addition to Utenos Trikota\u017eas, the Utenos Trikota\u017eas Group of companies includes Aboutwear, Gotija, \u0160atrija, and Mrija (Ukraine). Sales of functional-technical clothing produced by \u0160atrija decreased by 25.1% in the first half of this year, amounting to EUR 1.04 million.<\/p>\n\n\n\n

Prioritizing High Potential Business Areas<\/strong><\/p>\n\n\n\n

The pandemic, war, energy, and other price shocks, along with weakened demand, have negatively affected the textile sector worldwide over the past few years. Especially in Europe, where producers are under further pressure from cheap labor countries in Asia. A significant drop in demand and a lack of decisive action would only further deteriorate the company’s financial situation. To prevent this, the company\u2019s board initiated the restructuring of the company.<\/p>\n\n\n\n

The restructuring plan, already approved by the company\u2019s shareholders and covering a period of four years, contains measures aimed at ensuring solvency and continuity of operations in the long term. The aim is to reorganize the company so that even with lower sales, the company can restore profitable operations and meet obligations to employees, creditors, and partners.<\/p>\n\n\n\n

\n

“The main direction of the plan is to continue increasing efficiency by reducing costs and eliminating unprofitable activities while retaining as much viable business as possible. We are valued as producers of high-quality wool garments and advanced developers of complex technical and innovative organic materials \u2013 this is where we will focus our innovation efforts, aiming for such products to become the foundation of Utenos Trikota\u017eas\u2019 production,” stated Nomeda Kau\u010dikien\u0117.<\/p>\n<\/blockquote>\n\n\n\n

About Utenos Trikota\u017eas<\/strong><\/p>\n\n\n\n

Utenos Trikota\u017eas is one of the largest and sustainable knitwear manufacturers in Central and Eastern Europe. Its specialized focus lies in on-demand ready-to-wear production and jersey fabric development for leading international brands, covering the entire production process from yarn to finished products.<\/p>\n\n\n\n

Utenos Trikota\u017eas Group operates three factories \u2013 Utenos Trikota\u017eas (Lithuania), \u0160atrija (Lithuania) and OAO Mrija (Ukraine). Environmental and social responsibility commitments cover all areas of Utenos Trikota\u017eas’ production and operations \u2013 from organically farmed natural fibers, the use of chemicals in production, to fair pay for employees and absolute transparency in production processes. Utenos Trikota\u017eas is part of the SBA group.<\/p>\n","protected":false},"featured_media":3484,"template":"","naujienu_kategorijos":[23,22],"class_list":["post-3485","naujienos","type-naujienos","status-publish","has-post-thumbnail","hentry","naujienu_kategorijos-financial-results","naujienu_kategorijos-for-investors"],"acf":[],"yoast_head":"\nUtenos Trikota\u017eas Group Earns EUR 7.4 Million in Revenue in First Half-Year - Utenos | Customized Jersey Specialists<\/title>\n<meta name=\"description\" content=\"In the first half of the year, the Utenos Trikota\u017eas Group sold products and provided services worth EUR 7.4 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ut.lt\/en\/news\/utenos-trikotazo-grupe-per-pirmaji-pusmeti-uzdirbo-74-mln-eur-pajamu\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Utenos Trikota\u017eas Group Earns EUR 7.4 Million in Revenue in First Half-Year - 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