SBA Group company Utenos Trikotažas generated EUR 8.0 million in revenue from product sales and services during the first half of 2026, a decrease of 8.1% compared to the same period last year. Despite the overall decline, the company continued to grow in its key export markets, while sales of its proprietary brand, UTENOS, increased by 26.6% year-on-year.
"The second quarter is traditionally slower for our industry, with the peak season still ahead. This year, normal seasonality has been compounded by increased uncertainty in international markets. Customers are planning orders more cautiously, while geopolitical tensions and energy price volatility continue to shape the business environment," says Nomeda Kaucikiene, CEO of Utenos Trikotažas.
Compared to the previous year, the company's financial results were affected by changes in the Group's structure. In the autumn of 2025, bankruptcy proceedings were initiated against its garment manufacturing subsidiary Šatrija, while the controlling stake in Ukrainian subsidiary Mrija was sold at the end of the year.
Looking solely at the performance of Utenos Trikotažas, sales remained broadly in line with last year's level. The company continued to expand in its key export markets, with sales increasing by 17.9% in the DACH region (Germany, Austria and Switzerland) and by 48.9% in Scandinavia. During the first half of the year, the company recorded a net loss of EUR 470 thousand, compared with a net profit of EUR 144 thousand in the corresponding period of 2025.
"This half-year's result was driven by two specific factors. First, the one-off income from the sale of assets recognized last year did not recur. Second, we deliberately increased investments in sales development and the growth of the UTENOS brand," says Nomeda Kaucikiene.
UTENOS Brand Becomes the Fastest-Growing Business Segment
Sales of the proprietary brand UTENOS increased by 26.6% during the first half of the year and surged to 37.7% in the second quarter alone. Growth was driven by a stronger focus on brand development, including a renewed product assortment, increased marketing activities, and the company's established tradition of collaborating with well-known Lithuanian designers and creative professionals.
European Textile Industry Remains Cautious
The European textile and apparel industry continues to face slower economic growth across key European markets, sustained competition from Asia, volatility in raw material and energy prices, and ongoing geopolitical tensions. Under these conditions, many customers are taking a more cautious approach to production planning and inventory management.
"We remain fully aware of the key risks affecting our business, but we have been operating in this cyclical environment for many years. We continue to manage costs with discipline, improve operational efficiency, and focus on higher value-added products," says Nomeda Kaucikiene.
About Utenos Trikotažas
Utenos Trikotažas is one of the largest and most sustainable knitwear manufacturers in Central and Eastern Europe. The Company specializes in the development of innovative materials and the production of garments for leading international brands, as well as the development of its own apparel brand, UTENOS. Utenos Trikotažas is part of the SBA Group.
Additional information is available from Gediminas Kudarauskas, CFO, tel. No. +370 616 33169.
Nomeda Kaucikiene, CEO of AB Utenos trikotažas
