A New Chief Financial Officer Appointed At Utenos Trikotažas

(MENAFN- GlobeNewsWire - Nasdaq) A new CFO has been appointed at SBA Group company Utenos Trikotažas, replacing Aurimas Likas, who had held this position since 2023. Having completed the financial transformation phase and achieved a breakthrough in profitability, the company is entering a new phase of growth. From September 1, it will be led by experienced finance director Tadas Baužys. Aurimas Likus will remain with the SBA Group in the role of business control director.

Tadas Baužys brings valuable experience in investment project management as well as international corporate financial control. He has worked with complex financial models, prepared feasibility studies, attracted funding, and ensured the effective management of large-scale budgets. Tadas Baužys will serve as Chief Financial Officer of Utenos Trikotažas while also holding the position of Business Controller at SBA Group.

"Tadas's experience and growth-oriented specialization will strengthen the financial breakthrough we have achieved and ensure sustainable long-term growth. His strategic approach will enable the company to continue implementing its restructuring plan in a focused manner and successfully move into the next stage of development," says Nomeda Kaučikienė, head of Utenos Trikotažas.

In the second quarter of 2025, Utenos Trikotažas returned to profitability for the first time in few years, reaching this milestone one quarter earlier than planned. In the first half of the year, the group's sales grew by 30.9%, including a 45.2% increase in contract manufacturing production. The company's EBITDA turned positive at €418,000, while group losses decreased by 78%.

Utenos Trikotažas is one of the largest and sustainable knitwear manufacturers in Central and Eastern Europe. Its specialized focus lies in on-demand ready-to-wear production and jersey fabric development for leading international brands.

The Utenos Trikotažas group operates two textile factories currently in operation – AB Utenos Trikotažas (Lithuania) and OAO Mrija (Ukraine). Environmental and social responsibility commitments cover all areas of Utenos Trikotažas' production and operations – from organically farmed natural fibers, the use of chemicals in production, to fair pay for employees and absolute transparency in production processes. Utenos Trikotažas is part of the SBA group.

Additional information is available from Aurimas Likus, CFO, tel. No. +370 618 07809.

Nomeda Kaučikienė, CEO of AB Utenos trikotažas

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