Lithuanian furniture manufacturer Narbutas reports record turnover again

In 2016, the Lithuanian office furniture maker Narbutas reported a turnover of € 33.1 million. Now the company states in a press release, their turnover in 2017 grew with 53%  to € 51 million. In line with their increasing turnover, the EBITDA also improved, and amounted to € 10.7 mln.
“Our successful results are driven by new and in-demand products, competitive pricing and active sales growth. We currently export office furniture to 51 countries and we have over 440 trading partners. The fastest growth in sales was recorded in our largest export market – the United Kingdom, as well as France, Germany and the United States. We actively strengthened our position in Italy, Switzerland, Austria, and we are glad about the results in the Middle East, “said Gabriel VaitonytÄ—,
New headquarter for the Narbutas Group
At the end of 2017, the Narbutas Group opened a new headquarter: the administration moved to the DOMUS PRO business center in Vilnius, and the Lithuanian sales office moved to the capital’s business center Narbuto 5.
Narbutas investing € 7 mln in new production facilities
Narbutas expects to grow further in 2018. To be able to cope with that growth, a large investment package was started in the company’s production location. A total of € 7 million is invested in further modernization of the plant, and Narbutas is also developing a new production site of 7,500 square meters. This expansion is expected to generate 108 new jobs. In 2017, the workforce also grew by 111 jobs.
The Narbutas group consists of UAB Narbutas furniture company, UAB Narbutas, Narbutas SASU France, Nordic Narbutas, Narbutas Gmbh and Narbutas LTD.
Source Link: (OFFICE REPUBLIC) https://officerepublic.news/en/2018/02/lithuanian-furniture-manufacturer-narbutas-reports-record-turnover-again/

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