Plans for 2023 are being realised
„With the SBA group's furniture sector team, we began preparing for the market recovery several years ago, observing its moderate growth. Several years of hard work, during which we focused on efficiency and process optimisation, are now bearing fruit. In 2024, we began manufacturing new products that we had been developing and preparing since 2023. This result is the success of the consistent efforts of a united and dedicated team,“ says Egidijus Valentinavičius, Vice President of SBA and Head of SBA Furniture Group.
According to him, the company's consolidated revenue last year was 7% higher than in 2023, while its profit grew by almost 36%, from EUR 16.4 million in 2023 to EUR 22.3 million in 2024.
Plans – investments in the US and Lithuania
„2025 has also started positively. Together with the SBA Home team, we are continuing the momentum gained last year by streamlining processes, implementing innovative solutions, introducing new products, and developing new production capabilities. At the beginning of this year, we recorded higher sales than in 2024. However, the changes are being accelerated most by the new products in our portfolio and rising raw material prices. We are optimistic about this year, not only because of the results but also because of the furniture factory that will start operating in North Carolina, USA, where we plan to start production this autumn,“ says Jurgita Radzevičė, Head of SBA Home, which consists of four SBA furniture manufacturing companies and a logistics centre.
According to J. Radzevičė, decisions to invest significantly in the modernisation of companies operating in Lithuania will have a significant impact and positive effect on the results of the SBA Home group and team.
„SBA's cabinet furniture manufacturer Klaipėdos Baldai is preparing for its biggest transformation in the last five years – we will invest EUR 18 million in more efficient equipment and new technologies. We plan to implement the modernisation project by 2026 without interrupting the production process for a single day,“ says J. Radzevičė.
J. Radzevičė concludes that most of the product range of Visagino Linija and Šilutės Baldai is also changing. At the same time, Inno Line, the most modern furniture factory in the Baltic States, operating in the Klaipėda district in the SBA innovation valley, has completed the first stage of its expansion and is preparing a plan for further development of its production capacity.