Audited annual information for 2023 of UAB Modus GrupėVilnius, Lithuania, 2024-04-30 09:33 CEST --
Modus Grupė UAB (the Company) is a private limited liability company whose shares are wholly owned by the controlling Company MG NL holding B.V. The Company's business is management consultancy.
Due to the internal structural changes implemented within the Group, the financial results of companies operating in the renewable energy business controlled by the Company's shareholder MG NL holding B.V. are not consolidated at the level of UAB Modus Grupė and are not reflected in the Company's annual report and financial statements as of January 2020, except the consolidated result of renewable energy company AB Green Genius Baltic
The Group of companies of UAB Modus Grupė (the Group) comprises the Company and its 7 subsidiaries (8 as of 31 December 2021), 50 subsidiaries (46 as of 31 December 2021), and 2 associates (2 as of 31 December 2021). The Group's main activities include automotive retailing (managing a network of 16 car dealerships), mobility services (CityBee, MyBee, and Mobility Fleet Solutions), and investment fund management (Modus Asset Management). In 2023, the Company's consolidated sales revenue amounted to EUR 368 450 thousand, a decrease of 2.5% compared to 2022 (EUR - 377 892 thousand in 2022).
The Company's consolidated net profit (after tax) from continuing operations in 2023 amounted to EUR 2 363 thousand and was lower than in the previous reporting period (consolidated net profit (after tax) from continuing operations in 2022 was EUR 17 116 thousand).
However, the renewable energy company AB Green Genius Baltic (previously AB Modus Energy), the result of which is consolidated at the level of the Company, incurred a loss in 2022 due to its withdrawal from the Belarusian market, which resulted in a net loss from discontinued operations of AB Green Genius Baltic amounting to EUR 2 893 thousand (EUR 12 076 thousand in 2022). The consolidation of this company's results at the Company's level results in a corresponding reduction of the Company's net profit (after tax) by the same amount.
In 2023, the Group's consolidated EBITDA amounted to EUR 29 792 thousand (2022: EUR 34 233 thousand), a decrease of 13% compared to 2022.
Contact person:
Ugnė Bartašiūtė
Head of Communications, Corporate Affairs and Sustainability
Email ugne.bartasiute@modus.group
Mob. +370 614 74 046
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