road haulage giant Girteka saw a drop in both turnover and financial results in 2024, following an initial slowdown the previous year, although it continues to hold a leading position in European road transport. According to data published by the Lithuanian portal Rekvizitai, revenues stood at €1,437.4 million in 2021 and rose by 34.4% to €1,931.5 million in 2022, thanks largely to fleet expansion and the acquisition of new multinational clients. However, 2023 marked the beginning of a downward trend, with revenues falling by 10.3% to €1,733.2 million, a decline that deepened in 2024 with a further 17% drop to €1,437.7 million.
Profitability has only partially followed the same trajectory as revenue. After continuous margin improvements through to 2023, the trend reversed in 2024. Net profit rose from €67 million in 2021 (a five percent margin) to €172.8 million in 2023 (a ten percent margin), effectively more than doubling over the three-year period. This positive trend was supported by economies of scale, route optimisation and investments in digital technologies that enhanced operational efficiency.
However, 2024 marked a turning point, with the company reporting its first operating loss in recent years, amounting to nearly €28.9 million and corresponding to a negative net margin of two percent. This shift can be attributed to several factors, including rising operating costs—particularly for fuel and labour—intensified price competition, and increased investment in fleet renewal and digitalisation.
Despite this downturn, Girteka remains at the forefront of European road haulage, operating a fleet of more than six thousand heavy goods vehicles and seven thousand semi-trailers, a significant share of which are equipped for temperature-controlled transport. In 2025, the company signed the largest truck purchase agreement of the year in Europe, ordering two thousand Volvo vehicles with an estimated value exceeding €200 million.
