"Groward Group's profit up 21% to EUR 4.5 million

„Vičiūnų grupa“ a wholesale cereals and eggs company owned by Visvaldas Matijošaitis and Liudas Skieras, owners of the Vičiūnai Group“Groward Group“ consolidated net profit grew by 21% to EUR 4.5 million last year (EUR 3.7 million in 2023), while its revenue fell by 14% to EUR 58 million (EUR 68 million), according to the report filed with the Centre of Registers.

The group said that last year's higher net profit was due to higher product prices and sales volumes.

„Most sales are in Lithuania and Western Europe. Sales in Lithuania accounted for 48% of total sales in 2024 (50% in 2023)," the company commented in its report.

This year, the Group intends to improve efficiency and reduce costs.

In recent days, one of the group's companies „Vievio paukščiai“ borrowed EUR 8 million for five years from „Citadele“. 

At the end of January this year, the group's Vilkyčiai poultry farm suffered losses of €1.3 million after the disposal of 250,000 birds due to bird flu, which it hopes to be compensated for by the state, according to the report. The losses have not been published so far.  

The group controls 9 companies: „Vievio paukščius“, Vilkyčių and Zujų paukštynai, „Baltic egg production“, „Groward Logistics“, „VG agrogrūdai“, agricultural partnerships „VG Alsa“ and „VG Ausieniškės“.

At the end of last year, the Group had 437 employees (previous year: 444).

„Groward Group“'s ultimate beneficiaries are V. Matijošaitis and L. Skierus (50 per cent of the shares each), according to the Centre of Registers.