Company Overview - Utenos Trikotažas has appointed Tadas Baužys as the new Chief Financial Officer, succeeding Aurimas Likas, who held the position since 2023 [1] - The company has completed its financial transformation phase and is entering a new growth phase [1] Leadership and Management - Tadas Baužys brings extensive experience in investment project management and international corporate financial control, having worked with complex financial models and large-scale budgets [2] - Aurimas Likas will continue with the SBA Group as the business control director [1] Financial Performance - Utenos Trikotažas returned to profitability in Q2 2025, achieving this milestone one quarter earlier than planned [4] - The group's sales increased by 30.9% in the first half of the year, with contract manufacturing production rising by 45.2% [4] - The company's EBITDA turned positive at €418,000, while group losses decreased by 78% [4] Industry Position - Utenos Trikotažas is recognized as one of the largest and sustainable knitwear manufacturers in Central and Eastern Europe, focusing on on-demand ready-to-wear production and jersey fabric development for leading international brands [5] - The company operates two textile factories: AB Utenos Trikotažas in Lithuania and OAO Mrija in Ukraine [6] Corporate Responsibility - Utenos Trikotažas emphasizes environmental and social responsibility across its operations, including the use of organically farmed natural fibers and fair pay for employees [6]

Core Insights - Utenos Trikotažas achieved profitability for the first time in a long time, marking a significant strategic shift ahead of schedule [1][2] - The company's revenue surged by 30.9% year-over-year, reaching €9.7 million in the first half of 2025, with exports making up 80.8% of total sales [3][4] - The restructuring plan initiated at the end of 2024 is yielding tangible results, with improved EBITDA and reduced losses at the group level [5][7] Financial Performance - The company reported an EBITDA of €418,000 in the first half of 2025, a significant improvement from a negative €1.3 million a year earlier [4] - The group's EBITDA for the same period was €114,000, compared to a negative €1.6 million in 2024, with consolidated losses decreasing by 78% from €2.3 million to €0.5 million [5] - Contract manufacturing sales rose by 45.2% to €7.6 million, while sales of own brands remained stable at €1.1 million [3] Strategic Focus - The company is focusing on high-margin products, particularly those made from wool, eco-friendly, and functional materials, aligning its strategy with market demand [4] - Current order volumes for the second half of 2025 indicate confidence in maintaining revenue growth and further strengthening operational profitability [8] Operational Changes - The closure of the sewing services subsidiary, Šatrija, was based on sustained financial losses and is not expected to impact the main company's restructuring plan [6] - The company successfully sold unused real estate in Utena, using the proceeds to settle obligations with the primary creditor [7] Company Overview - Utenos Trikotažas is one of the largest sustainable knitwear manufacturers in Central and Eastern Europe, specializing in on-demand ready-to-wear production [9][10]