Civinity chooses Šiaulių Bankas for placement of new bond issue


Civinity chooses Šiaulių Bankas for placement of new bond issue

Civinity, one of the largest building maintenance and engineering solutions groups in the Baltic States, has signed an agreement with AB Šiaulių bankas for the placement of a new public bond issue, which is expected to commence at the end of September this year.

This will be the second public placement of a bond issue with Šiaulių bankas. The first issue was successfully placed in 2021, with the newly issued bonds being listed on First North, an alternative securities market operated by Nasdaq Vilnius. At that time, the company raised EUR 8 million, offering private and institutional investors a 5% annual interest return.

After the last public offering, Civinity’s turnover increased by 52% from EUR 48.63 million in 2021 to EUR 74.16 million in 2022.

According to Deividas Jackos, shareholder and Chairman of the Board of Civinity, the Group’s significant growth was driven by consistent organic growth and successful project implementation. The Group grew in all business segments and developed its UK business to a significant turnover. In 2022, the Group completed the acquisition of the shares of UAB Inservis, UAB Suburban, UAB Jurita and SIA Inservis, which are companies that maintain commercial and residential buildings, as well as the acquisition of a controlling stake in a platform for freelance construction professionals.

“With Civinity demonstrating solid growth in recent years, we will continue to focus on expansion, broadening the range of services and improving quality. We will also focus on the energy efficiency of our customers through apartment modernisation/renovation projects and green energy investments. We are pleased with our successful cooperation with Šiaulių bankas, which has become a long-term financial partner of the Group, helping Civinity to achieve its strategic goals,” says D. Jacka.

“Civinity’s second bond issue is a great example of the attractiveness of financial markets for business. We are pleased to be able to contribute to the development of our client’s business and believe that the increasingly popular alternative or combined sources of financing for businesses can become part of a sustainable strategy of continuous growth,” says Eglė Džiugytė, Head of Investor Relations at Šiaulių bankas.

“Civinity is one of the largest building maintenance and engineering solutions groups in the Baltics. The company brings together more than 30 companies that maintain 10 million sqm of residential and commercial buildings and have installed several thousand engineering systems in different European cities. In 2022, the Civinity team had 1,711 employees in Lithuania, Latvia and the UK, revenues of EUR 74.158 million and EBITDA of EUR 4.121 million.

Established in 1992, AB Šiaulių bankas is the largest bank with Lithuanian capital, a stable and consistently growing financial partner with a special focus on business and consumer finance solutions. The Bank’s shares are listed on the NASDAQ Baltic Official List.