„We have plans for strong growth this year, despite a slow recovery in the demand for furniture. Certain new markets opened up last year, and new trading partners in our existing top-selling countries – those in the Scandinavia and Benelux regions – will help us achieve this. Provided the world’s logistics chains are not disrupted by military actions in the Middle East, and if there is no new shock rise in the prices of raw materials, we expect double-digit growth,“ said Tomas Mauricas, the Head of Kauno Baldai, in a business forecast.
He noted that 2023 was a year for growing new markets and returning to former markets.
„We started in France and, with our partners in Europe's third largest furniture market, we have ambitious goals for this year. Our return to Norway has also paid off, with a significant increase in sales. Overall, we sold 9 million EUR worth of furniture in the Scandinavian market in 2023 – almost double the amount sold in 2022. In Germany, we grew our revenues by almost a tenth to more than 5.5 million EUR. Sales in the Benelux countries dropped to 9.6 million EUR, but we expect to see growth there this year as well,“ said Mauricas.
Last year, Kauno Baldai completed the installation of all the acquired equipment in the its factory and modernised its packaging department, with an investment of more than 1 million EUR. Our main goal now is to expand our export markets and ensure that new orders allow for the maximum efficient use of production capacity.
Kauno Baldai, which employs about 370 people, completed the construction of a new 28,000 m2 factory last year. The investment in this project (including the equipment) amounted to more than 30 million EUR.
