In 2017, according to audited consolidated data, ACHEMOS GRUPĖ received 818 million euro of consolidated revenue, 18% more than in 2016. The Group earned 33 million euro of profit before taxes.
‘The results of 2017 reflect the challenging business environment in which the companies of ACHEMOS GRUPĖ operate. Working in synergy and maximizing our competitive advantages, we still face global and local risks: growing competition, climate change, the impact of geopolitics on the supply of raw materials, the ever-changing business environment, and rising taxes. We had to act faster and to look ahead in order to deal with these challenges. Therefore, 2017 was a complicated year for the Group as it required a lot of endurance and concentration,’ said Lidija Lubienė, the Chairperson of ACHEMOS GRUPĖ Board.
Last year the results were determined by the difficult situation in the fertiliser market that has been going on for several years, which was further aggravated by a rainy autumn and a long cold winter in Europe in the second half of the year. In addition, the companies of the Group are one of the major payers of PIS (Public Interest Service), LNG terminal and other taxes, which exceeded 43 million euro in 2017. A significant contribution of the Group to the energy objects strategically important for the whole country and the region guarantees the energy security of the whole country and even of the entire Baltic region.
Continuing development in strategic areas
In 2017, the Group continued its work on strategic goals, focusing on corporate management, its efficiency and competitiveness, and the development of long-term sustainability. The companies of the Group have invested in the production of new products, as well as in the upgrade of technology and infrastructure. One of the most important projects was completing the deal of purchasing UAB LP grupė, which significantly strengthened the position of the Group in the agricultural business. The Group also entered a new field of activity and started trading gas in Lithuania and the Baltic States. This activity is being carried out by the newly established company UAB Achema Gas Trade. The total amount of the investments by the Group amounted to 50 million euro in 2017.
‘The portfolio of the Group includes a number of projects that will be implemented in 2018. It is planned to invest approximately 140 million, focusing mainly on the strategic areas of the activity: the companies engaged in fertiliser production and trade, agricultural business, port handling and logistics, and energy. Unfortunately, we might have to abandon some of the projects planned due to an unfavourable investment environment,’ said Linas Sabaliauskas, CEO of ACHEMOS GRUPĖ. Nevertheless, in 2018, the Group has already acquired some wind power parks in the Czech Republic and Croatia, and plans to start building a new melamine plant, to continue to look for new businesses that create added value and synergy with existing companies in the portfolio of companies.
ACHEMOS GRUPĖ is one of the largest business groups in Lithuania, which consists of more than 40 companies operating in Lithuania and abroad. The companies of the Group have about 4,700 employees.