The results of "Fima" in 2008 are the best results in the history of the company

Back to News

The turnover of "Fima“, the leader of the intelligent engineering solutions, grew for 7 percents during 2008 and reached the maximum income of EUR 41 million in the history of the company. In 2008 the value of the signed contracts by the company doubled and reached EUR 80 million, as compared to the year 2007. Under the statement of the "Fima" leaders, the success of the company has been brought by the focusing to the complex projects and the trust of the clients in the competence to implement them.

"Last year all the forces were concentrated on the tenders which provided the opportunity to implement complex, large scope projects. Potential customers were offered the best solutions in respect of the functionality and the price. These purposeful efforts were particularly productive“, - says Gintaras Juknevičius, CEO of "Fima“, UAB. According to him, last year's achievements are fully exemplified by the greatest contract which has ever been signed in the history of the company - the company "Fima" will carry out works of the modernisation for the "Lithuanian Railways" for more than EUR 46 million along with the partner, Czech company „AŽD Praha“.

Even 87% among all the signed contracts made the contracts for more than 1 million LTL. Currently, the volume of the contracts in hand of the company "Fima" is EUR 98 million.

G. Juknevičius states that the successful results of the previous year were also due to the expanded technical support services - from now not only the systems installed by “Fima”, but also by  other companies are supervised by the specialized technical support unit of the company "Fima Service Center“.

Among the most important events of 2008 the coming of new investors into the lines of the  company shareholders is being mentioned by the CEO of "Fima" - a controlling interest of the company has been acquired by the American business development company „MVC Capital“ listing at New York Stock Exchange. The founders of "Fima" hope that this investment will not only help to develop the services and create new solutions but will also provide new perspectives for the development, will vouch the succession of all the ongoing and planned projects.

Also the company "Fima" was acknowledged at the national level last year - the company was handed the award for the unique project of the security system for Būtingė terminal buoy in the Baltic Sea by the Ministry of Economy of the Republic of Lithuania. The same year in December "Fima" was recognized as one of seven of the most innovative companies in Lithuania.

According to G. Juknevičius, after having had such successful previous year, the company will seek to preserve the stability through the continuation of the started works and the flexible response to the changing situation in the market affected by the economic downturn this year.

"There are several the most significant problems which are confronted with not only by our sector today. Firstly, this is the limitation of the financing of the state projects, even when the funding for the projects in hand is docked or delayed. Another problem – a bank credit shortage than the governmental order is no longer a solid argument to obtain a bank credit for the project implementation even. And, finally, a great mischief is the delay of payments between the companies and public sector"- said Mr Juknevičius. However, according to him, the run-in of the company "Fima" last year still makes feel calm, even in the background of the adverse circumstances.

In 2009 the specialists of "Fima" in Lithuania and Latvia will mainly focus on the installation of the modern data centers as well as to provide engineering solutions for the rail transport, road infrastructure and environment protection. In addition, "Fima" is planning to "export" some engineering solutions for railways and data centers to such countries as Belarus, Poland, Kazakhstan, Georgia this year.

Additional Information

Among the significant projects, implemented by "Fima" last year, was the project of the security system at Būtingė terminal marine buoy where technologies used only in military industry were applied. There is also a unique project – the perimeter security system of Kruonis pump storage power plant (KHE) which made the area of the power plant one of the safest in the country. The company contributed to the security of Kaliningrad transit road line - illegal acts of the railway passengers now are monitored by the integrated electronic surveillance system installed by "Fima”.

One of the most advanced video surveillance systems in the country has been installed by "Fima“ in Klaipėda, which contributes to the crime prevention in the seaport.

A number of interesting projects were implemented in the business sector by the company last year, too. One of the most memorable is installed engineering technologies at Panevėžys "CIDO“ arena where a unique, automatically controlled four-screen video cube and cycling timing and photo-finish equipment  were installed by the company according to the international standards.

There is also a unique project - the electronic parking guidance system was installed at the site of the shopping center "Panorama", which is still the only such an accurate system in the Baltic countries.