The RNDV group of companies concluded 2024 with a 20% increase in revenue, reaching €122 million compared to 2023. Operating in general construction in Lithuania, as well as large-scale and complex shipbuilding, residential, and industrial construction projects in Lithuania and Europe, RNDV has maintained a growth trajectory for the fourth consecutive year.
“The continued growth last year was driven by long-term relationships with key partners, a broad diversification of activities and geographical presence – we operate in 12 business sectors across more than ten countries. Additionally, our success was reinforced by Europe’s increasing focus on renewable energy projects and declining financing costs in the construction sector. Considering various factors, we can predict that the business environment in our key sectors—shipbuilding and land-based construction—will remain favorable for achieving our objectives,” says Laimonas Gricius, CEO of RNDV Holding.
According to the CEO, investments in team development, a strong focus on customer value, and precision quality were key factors ensuring stable and sustainable growth. Last year, RNDV dedicated significant attention to improving internal processes and organizational structure. The group operates three training centers, allowing employees to be trained and tested while maintaining the highest standards of work quality.
The company’s workforce grew by 17% over the past year, from 1,600 employees at the start of 2024 to 1,866 at the beginning of 2025. Among them, 101 employees advanced in their careers within the company.
Ongoing Collaborations
Among RNDV’s most notable projects in Lithuania last year was the completion of the “SBA Urban” apartment complex Kopų Slėnis in Palanga. Since May, the company has been working on another project with the same partners—Vėjo Miestelis in Svencelė, a development distinguished by its scale and complexity.
“The successful completion of the Kopų Slėnis project became the signature achievement of UAB RNDV Statyba, helping to secure further collaboration with SBA Urban. We take pride in embarking on a new challenge together—developing Vėjo Miestelis, a larger and more complex project on the shores of the Curonian Lagoon. This long-term partnership with real estate developers is proof, both to ourselves and others, that we can deliver even better results,” says L. Gricius.
Record-Breaking Shipbuilding Contract and a Unique Project
In 2024, the company contributed to the outfitting of Utopia of the Seas, the world’s second-largest cruise ship. The RNDV team executed an extensive electrical installation project, laying over 400 km of cables, connecting 3,000 electrical points, and ensuring power supply to 670 cabins.
Additionally, continuing its long-standing collaboration with one of Europe’s largest ship developers, R+S Stolze GmbH, RNDV secured a record-breaking €9.3 million contract for electrical installations on river cruise ships.
“Europe’s most advanced shipbuilding sectors are cruise and military vessels. The cruise industry remains stable, with key clients securing project portfolios for several years ahead. As EU countries increase their investments in security, we also see expansion opportunities in the military shipbuilding sector, where we have significant experience and the necessary qualifications to meet industry standards,” says the CEO of RNDV Holding.
The company also started working with Europe’s leading material handling system manufacturers, Dematic and TGW Logistics. RNDV’s scaffolding and technical insulation teams contributed to operations at the world’s largest chemical plant, BASF Ludwigshafen in Western Germany.
Looking ahead to 2025, the RNDV group of companies has already signed contracts for international projects worth a total of €100 million.
“We are committed to expanding our presence in the construction ecosystem, continuously improving project management practices in both shipbuilding and land-based construction, and increasing operational efficiency. Our key markets will continue to be Lithuania, France, Germany, and the Netherlands. Additionally, we are actively working on expansion into the United States,” says L. Gricius.
Breakthrough in the Renewable Energy Sector
In 2024, RNDV installed 160 MW of solar parks, supplying electricity to 16,000 households across Europe.
In Lithuania, the company began constructing one of the most advanced solar power parks in the Baltic region, featuring a variable-angle solar tracking system. The 86-hectare facility will generate 36.4 MW of energy.
“We see a growing trend in EU countries increasing investments in renewable energy. Across Europe, we participate in these projects as contractors for solar power plants and offshore energy park components. The demand for such projects is expected to grow, despite signs of economic uncertainty. We are also expanding our solar park construction projects in Lithuania,” notes the CEO of RNDV.
Additionally, the company completed a large-scale electrical installation project at a 96 MW data center in the Netherlands. At the project’s peak, 100 RNDV employees were involved over nearly two years.
RNDV also inaugurated a new metal fabrication facility in Gargždai, where metal structures for construction and offshore industries, as well as piping for ships and oil refineries, will be manufactured. Equipment for international projects will be designed and produced in Lithuania.
About RNDV
The RNDV group of companies began operations in 2007 in the maritime sector and quickly expanded into industrial and civil construction. Today, RNDV provides general construction services in Lithuania, builds cruise and other specialized vessels in Europe’s largest shipyards, and executes electrical engineering projects. The company’s employees are also involved in constructing renewable energy parks, offshore metal structures, data centers, scaffolding, technical insulation, and electromechanical projects in Lithuania and other Western European countries.
The RNDV group of companies’ broad expertise allows it to offer a comprehensive range of services to clients both in Lithuania and across the European Union and beyond.