Modus Group

03/10/2024

A significant milestone for Green Genius!

Green Genius, a renewable energy company is to receive an equity investment of up to EUR 100 million from the European Bank for Reconstruction and Development (EBRD). The transaction, subject to the approval of competition regulators in several countries, will make EBRD a minority shareholder in Green Genius.

"We have been working with the EBRD for 7 years now – we have successfully implemented a number of projects and have had the opportunity to see in real life that the organisations' views and values are aligned on key issues. We know that this organisation sets the highest standards for its partners, and we consider EBRD's becoming a shareholder and financial partner of Green Genius to be a great recognition," says Ainė Martinkėnaitė-Martyniuk, Chair of the Management Board.

More information in the article 👇

Įmonių grupės „Modus Group“ valdoma atsinaujinančios energetikos bendrovė „Green Genius“ susitarė dėl solidžios investicijos. Europos rekonstrukcijos ir plėtros bankas (EBRD) į „Green Genius“ investuos iki 100 mln. Eur. Įgyvendinus šį sandorį, kuriam dar turės pritarti kel...

09/05/2024

In 2023, Modus Group's consolidated sales revenues were EUR 392 million, which was similar to 2022 (EUR 404 million). The EBITDA amounted to EUR 45 million, while investments in Lithuania and abroad almost doubled to EUR 262 million. Moreover, Modus Group successfully issued a EUR 8 million bond last year, with a 2.5-fold increase in investor demand for the public offering.

"2023 was another challenging year: concerns about the war in Ukraine continued, high operating and borrowing costs slowed consumption and investment, and uncertainty remained about the economic outlook. In this context, Modus Group's ability to maintain similar revenues as in 2022 is considered a good result and proof that our business is resilient and well diversified both geographically and by sector," says Aine Martinkenaite-Martyniuk, Chairman of the Board at Modus Group.

📍Follow the business overview in the comments to find out more

06/12/2023

Last week, UAB Modus Grupė completed its public EUR 8 million bond issue. The bond was scheduled to be distributed on November 17–29. Still, due to strong investor interest, this amount was reached a week earlier, bringing the total value of investment applications to almost EUR 20 million. More than 400 investors from Lithuania have purchased the bonds.

Aine Martinkenaite-Martyniuk, Chairman of the Board, notes that investor trust is also a result of the foundations built in previous bond issues. "Investor interest in the bonds shows that the market values and has confidence in the strategy and resilience of our Group's businesses in different economic phases. The work done in the previous two bond issues has contributed to this successful outcome, building investor confidence," says Ainė Martinkėnaitė-Martyniuk.

Eglė Džiugytė, Head of the Financial Markets Department at Šiaulių Bankas, highlighted the record level of investor interest as a reflection of Modus Grupė's effective approach to capital markets and sustainable financial management practices.

"The distribution of Modus Grupė bonds attracted a record level of investor interest, a rare achievement for an issuer in the Lithuanian market. The company is a good example of how a systematic approach to capital markets and a sustainable approach to financial management can successfully and quickly provide an alternative means of financing," says Eglė Džiugytė.

Mobilumo paslaugų, automobilių prekybos, investicijų valdymo ir kitų verslų savininkė „Modus grupė“ viešame obligacijų siūlyme 8 mln. Eur pasiskolino sulaukusi investuotojų paraiškų už beveik 20 mln. Eur.

28/11/2023

In a recent discussion with Verslo Žinios, the Chairman of the Board of Modus Group, Ainė Martinkėnaitė-Martyniuk discussed the diverse range of businesses under the Modus Group umbrella and the impact of a particularly challenging year. "The eclectic group of businesses is creating dynamic, and this mix helps to create a better balance in a year like this, which is not the most business-friendly," says Ainė Martinkėnaitė-Martyniuk.

Ainė shared that the challenging economic climate has variably affected different sectors within the group. The groups’ renewable energy and automotive sectors have had a comparatively easier year and are demonstrating stability between economic challenges. Conversely, the mobility business is under more pressure but remains stable and is positioned for adaptation and growth in the coming years.

We invite you to read the full interview for a more detailed understanding of Modus Group's perspectives and directions. If you choose to listen, the podcast is available too.
https://www.vz.lt/rinkos/2023/11/24/a-martinkenaite-martyniuk-aei-finansavimo-standartai-atejo-ir-i-lietuvos-banku-sektoriu

03/10/2023

The Modus Group had consolidated sales revenue of EUR 203 million in the first half of 2023 and remained almost the same as in the same period in 2022 (EUR 203.8 million). Meanwhile, EBITDA decreased by 9 percent to EUR 20.1 million.

"Global economic challenges - inflation, rising interest rates, uncertainty - indicated a difficult period ahead as early as last year. While our results in the first half of the year remained almost the same as a year ago, Modus Group, like many organizations, faces challenges in its day-to-day operations, ranging from increased costs to a slight slowdown in demand for high-value purchases. However, we do not doubt that the Group's broad business diversification and timely strategic decisions will ensure stability", says Ainė Martinkėnaitė-Martyniuk, Chairman of the Board of Modus Group.

To read more, follow the link in the comments.

25/09/2023

Green Genius confirms €179 million investments in solar power plants in the Baltic States! 🌱

Green Genius has obtained permits to build solar power plants in Lithuania and Latvia. The company will install a 78 MW solar power plant near Seduva, Central-North of Lithuania. Meanwhile, in Latvia, the construction will amount to 120.8 MW of solar.

“The markets in the Baltic countries have reached a certain new stage of maturity when new opportunities to develop large-scale projects arise alongside the development of usual smaller-scale solar parks,” said Simonas Šileikis, EMBA, Head of Solar Business at Green Genius. “Each of the large-scale projects will be of great importance in decentralizing the energy sources and strengthening the energy independence of the entire region.”

Both solar power plants in Lithuania and Latvia are planned to start operating in 2025.

Lithuanian renewables developer Green Genius, part of Modus Group, has obtained permits for the construction of roughly 200 MW of solar photovoltaic (PV) p

31/08/2023

A remarkable stride towards a greener future! 🌳

Green Genius signed a 92 million EUR loan with Swedbank Lietuvoje to construct an 80 MW wind farm in Jurbarkas district, Western Lithuania. The project will be the largest wind farm in the Jurbarkas area and one of the largest in Lithuania. As Rokas Bancevičius, Green Genius CFO, says, it will enhance the company's portfolio diversification regarding geography and technology and contribute to the region's efforts in achieving decarbonization and energy independence.

The wind park will start operations in 2025, providing green electricity to Lithuanian businesses.

Atsinaujinančios energetikos bendrovė „Green Genius“ 80 MW galios vėjo elektrinių parko statybas Jurbarko rajone finansuos „Swedbank“ suteikta paskola. Iš viso bendrovė iš banko skolinasi 92 mln. Eur.

18/08/2023

The overarching strategy of Modus Group revolves around creating a better quality of life through deliberate and sustainable choices. This commitment is manifested through Modus Group’s central directions: the cultivation of a shared economy, the advancement of renewable energy initiatives, and the facilitation of circularity, all of which seamlessly and directly contribute to the mitigation of environmental impact.

Follow the business overview in the comments to find out more.

08/05/2023

In 2022, Modus Group’s revenue amounted to almost EUR 404 million, although, compared to 2021, it decreased by 12%. However, the Group’s EBITDA grew by 82% to EUR 78.1 million. Modus Group's investment rose by 68% to almost EUR 138 million last year. These funds were primarily allocated to the growth of mobility and renewable energy businesses, aligning with long-term strategy to invest in the most sustainable areas with significant potential for further development.

"The war in Ukraine, the economic slowdown, and high inflation predicted a challenging year, but the Group's companies showed resilience. Although revenues declined, EBITDA in each business grew strongly. Today, the Group has three independent business lines operating in different geographic regions - renewable energy, mobility, and automotive. We are also steadily growing a fourth business line, Modus Asset Management, which manages investment funds. This provides Modus Group with a strong and balanced business foundation, allowing it to operate stably in various economic conditions and withstand external crises confidently," says Ainė Martinkėnaitė-Martyniuk, Chairman of the Board of Directors of Modus Group.

To read more follow the link in the comments.

02/03/2023

We are glad that our company MyBee Lietuva, launched in 2021, is growing. Today the service was launched in Latvia, and this is the third country so far! 👏

More and more people are realizing that a car can be a mobility service you subscribe to instead of an asset you have to own. At times of increased inflation and rising prices, people are evaluating all car-related expenses and are looking for alternatives to replace their old cars. 🚙

Car-sharing and car subscription services complement the mobility ecosystem and make city life more comfortable for each of us.

23/12/2022

The year has been another journey – full of meaningful experiences, achievements, and adventures that have grown us. The holiday season reminds us to look through the past year and share gratitude with our colleagues, partners, and clients. Thank you all for the partnership and experience we gained together.

Modus Group team wishes you a warm and cozy Christmas season with your beloved ones. May the New Year bring you the courage to dream big and think positively – it is always worth it! ✨

Best wishes! 🎄