RNDV Reports 2023 Results: Comprehensive Growth and Long-Term Value Projects - RNDV

Both Team and Income Growth

Teamwork is one of our main values, and in 2023 we strategically worked towards it. During the last year, RNDV welcomed 300 new colleagues in total – from production and administration employees to project managers of various fields as well as other specialists. Today, our team has a total of 1,600 employees from 23 different countries.

Moreover, in 2023, there was a successful income growth of the whole RNDV. Compared to 2022, income increased by as much as 39% – from EUR 76 million to EUR 105.4 million. Most importantly, we had a systematic income increase in the entire RNDV group.

Counting nine years of operational experience in this field, in 2023 we grew rapidly while implementing general construction contracting projects in Lithuania. Compared to 2022 results, last year’s income in this RNDV activity grew almost twice – from EUR 11.3 million to EUR 20 million. The newly opened general construction contracting unit of RNDV in Vilnius as well as industrial construction and residential construction projects of various scales contributed strongly to this growth.

Successful Year for All RNDV activities

Last year was also fruitful in shipbuilding and ship repair. We developed long-term value electrical installation projects in Europe’s largest shipyards, successfully completed electrical installation works of a 146m mega yacht as well as completed works in four out of five ships in a long-standing military corvette project.

Furthermore, production also doubled last year: we processed 50,150 tons of metal production and participated in the construction works of as many as 18 ship hulls. We also managed to start new activities on the ships: installation and insulation of pipelines as well as painting of metal structures.

Civil and industrial construction projects came to be also very significant last year – the segment of technical insulation and cladding as well as scaffolding insulation grew by as much as 24%. The team insulated 120,000m of pipelines and 55,000m2 of floor space, assembled and dismantled over two million m3 of scaffolding.

In 2023, we paid great attention to the strategically important area of RNDV – renewable energy. The results of the projects we implemented only prove the potential of this field. Last year, our team executed one outstanding offshore project in the area of wind power – in Germany, in the North Sea, the team carried out work on a wind farm platform, which included the installation of tracks, laying the cables, closing the transitions and modifying LAN systems. Solar power projects also stand out in last year’s activities. The total capacity of the installed power plants became eight times higher than in 2022 and reached as much as 80MW. For 2024, we have even bigger ambitions – we will aim at increasing this number to 160MW. The main focus of renewable energy projects – Lithuania, Germany and France regions.

Attention to Employee Education and Work Quality

Each year, we dedicate time to quality of work as well as safety and well-being of our employees. Last year, in total 750 employees completed various training programs and so expanded their professional knowledge, whereas 561 employees completed testing and qualification evaluation. Moreover, we allocated an 85% higher investment into expanding professional knowledge of our administration employees.

RNDV is also able to ensure the highest quality of work by globally recognized certificates. Among them – integrated management system (ISO 45001, ISO 14001, ISO 9001) and other international certificates confirming environment safety and quality of work (VCA, VCU, SSVA, ISO 3834-2, DIN 2303). The whole RNDV group carries out activities and implements different scale projects on the basis of these certificates, so that we could guarantee professionalism and reliability for our partners, as well as successfully make business together leading to victories.