Consolidated sales revenue of AB “HISK”, one of Lithuania’s largest infrastructure construction general contracting and project management groups, grew to EUR 108.816 million in the first half of this year, while EBITDA amounted to EUR −2.853 million. In the first half of the previous year, the group’s consolidated sales were EUR 79.364 million and EBITDA was EUR −0.607 million.
One of the group companies, AB “PST Group”, is successfully implementing an operational transformation and operating profitably after AB “HISK” increased its shareholding in the company to 84.85%. In H1 2026, AB “PST Group” increased its turnover by 130% to EUR 73.838 million. Sales revenue of another group company, AB “HISK”, amounted to EUR 23.092 million in H1 2026, compared with EUR 31.257 million in the same period of 2025.
According to Marius Motiejaitis, CEO of AB “HISK”, due to the specifics of the sector, the second half of the year is often more successful than the beginning of the year, and the latest results were significantly affected by changes in the implementation timelines of Rail Baltica projects, as well as by the overall market environment: significantly increased raw material, fuel and transportation costs.
“The company started this year with a record order book, but due to circumstances not solely within our control, we were unable to execute it to the planned extent – part of the Rail Baltica works has been postponed to a later period, and the coordination and approval of detailed design stages is taking longer than planned. Although raw materials and energy resources have become significantly more expensive due to geopolitical circumstances, the price indexation mechanisms applied do not always reflect the actual increase in key costs in the transport infrastructure market. This problem is becoming particularly relevant for the entire infrastructure construction market – in the implementation of both railway and state road infrastructure projects. Therefore, our priority today is to ensure the smooth implementation of major projects while continuing to increase the efficiency of all operations,” notes M. Motiejaitis.
Despite the H1 2026 results, the company views the group’s long-term prospects positively. The combined order book of AB “HISK” and AB “PST Group” amounted to EUR 640.9 million as of 30 June, and the coordination processes are expected to be completed shortly, with significant works to begin on the Šėta–Ramygala and Kaunas–Šveicarija (Part 1) sections of Rail Baltica.
According to M. Motiejaitis, better results are also expected in the future thanks to completed investments in upgrading the company’s technical base – in Panevėžys, the company is starting to operate the most modern Wirtgen asphalt mixing plant in the Baltic States, which will make it possible to consolidate the previously fragmented production infrastructure, optimise logistics and production processes, reduce operating costs and increase productivity.
The AB “HISK” group comprises UAB “Ukmergės keliai”, SIA “Latgales Celdaris” and the AB “PST Group” group of companies.