Baltijos Eukutecas eyeing further growth

Growing global demand for electric bikes resulted in a 9% increase in turnover and 14% larger profit for Baltijos Eukutecas, a member of German Werner Wirth family, manufacturing electric components at Klaipeda FEZ. The company expects further growth this year.

In 2020, the company made a turnover of 2,3M EUR, while its profit reached 0,8M EUR. Ina Vaicekauskiene, the CEO of Baltijos Eukutecas, says that these results were mostly driven by orders from its parent company in Germany. This, in turn, was a result of increased global demand for electric bikes.

“Last winter, our orders grew by 200%, so we achieved the targets we had set even before the pandemic. Clearly, some challenges in supply chains remain as some materials are getting more expensive and it takes longer to receive them. Undeniably though, electric transport is a sustainable business segment with steady growth,” Vaicekauskiene says.

In the first half of 2020, the company had issues related to the initial shock the pandemic brought. However, Baltijos Eukutecas met 2021 with a record number of employees that continues to increase.

Vaicekauskiene says she enjoys the latest improvements in infrastructure at Klaipeda FEZ, such as the new Lypkiu street link to the southern residential areas, as it both shortens commuting times and opens doors to using bikes or scooters.

Eimantas Kiudulas, the CEO of Klaipeda FEZ, says that Baltijos Eukutecas shows the strength of the electric transport ecosystem.

“The company is a strong addition to our electric transport and component portfolio. This segment is a clear priority for the next decades in Lithuania and the EU,” says Kiudulas.

On top of its mother company in Germany, Baltijos Eukutecas partners several Lithuanian companies, such as Etman, EPH Elektronik and others.

Baltijos Eukutecas has been operating in Klaipeda since 2013, while in 2018 it moved to the FlexStart advance building by the Klaipeda FEZ management company.