The past five years have been exceptionally challenging for both Lithuanian and global businesses so no surprise that UHB Group companies were affected as well. However, when discussing the results of the group for this period, the UHB Group Chairman of the Board, Kęstutis Pakalnis, has something to be happy about: turnover has increased 168%, around 300 employees work in various countries around the world, UHB Group expanded to 12 companies that are operating not only in Lithuania but also abroad (an acquisition of fertiliser factory “Samarkand NPK” in Uzbekistan in 2023).
According to Kęstutis, although the final results look inspiring, in fact the last five years have been like a roller coaster for the group: expansion and challenges were interchangeable, and in critical situations it was necessary to think outside the box both figuratively and literally to successfully continue the expansion: by establishing or acquiring new companies without geographic limits.
When discussing the challenges, K. Pakalnis also mentions the use of the Lithuanian legal system by competitors, which allows several dozen court cases to be filed on one controversial issue and hinder the company’s activities for years: “Once again the golden rule of business has bee proven: when you have a competent team even the most difficult challenges become opportunities. Even if unscrupulous competitors try to blackmail you using loopholes in the legal system.”
Read more in Lithuanian here.