UAB Juodeliai among the top three Lithuanian business leaders: Ranking conditioned by far-sighted investments
The wood processing company UAB Juodeliai has been ranked 3rd on Lithuanian Business Leaders 500 (LVL 500) list, compiled by the Verslo Žinios news portal.
The reorganized business structure of TMV Capital Group played a role in achieving this ranking.
Growth in each company’s revenue and profits was the first thing to be evaluated in the ranking. According to its 2022 results, UAB Juodeliai’s sales revenue increased by 52 per cent to EUR 211.5 million, and profit before tax – by 140 per cent to EUR 39.2 million.
In compiling this list, other parameters characteristic of business leaders were also taken into account, such as operational efficiency and the benefits created for employees. UAB Juodeliai, at the beginning of last year, had 591 employees. Also the company’s transparency and contribution in communicating about its experience and developing the business community were evaluated.
According to CEO of UAB Juodeliai Petras Jašinskas, this is the result of the consistent work of a company with 30 years of experience, and investments in the development of production technologies were key to achieving it. The reorganised business structure also had an impact on efficiency and other indicators – the holding company TMV Capital was established and four principal areas of activity were consolidated.
UAB Juodeliai currently has four production units in Akmenynai, Jūrė, Radviliškis and Marijampolė. Last October, the company signed a contract for the construction of a second production building in Marijampolė, which is planned to be completed by this summer. The total value of the project will reach EUR 30 million. These investments will make it possible to increase processing capacity, use more diverse raw materials and further expand the range of products.