The turnover of the used car dealer JSC “Longo Group” in the first quarter of this year was 8.9 million euros, which is 120% more than in the corresponding period a year earlier, the representatives of “Longo Group” inform.
The company’s profit before interest, taxes, depreciation and amortization or EBITDA in the first quarter of this year was 0.2 million euros, and gross profit reached 1.1 million euros, which is 143% more than in the corresponding period in 2021.
In April, “Longo Group set a new sales record, reaching a turnover of 4.4 million euros per month.
Edgars Cērps, Chairman of the Board of Longo Group, points out that the importance of digital channels in the sale of used cars remains high this year as well, and more and more customers prefer to start their first communication remotely.
This year, the company plans to increase profits and revenue, for this purpose it plans to work on brand awareness, as well as expanding the range of cars offered by the used car sales network.
In 2022, Longo Group will continue to work on innovative solutions, develop new used car procurement channels and focus on increasing the capacity of the service center.
Last year, the turnover of the Longo Group in the Baltic States totaled 30.2 million euros, which is a doubling compared to 2020. In Lithuania, the turnover of the Longo Group last year more than doubled the results of Estonia, reaching 14.1 million euros, while the turnover of the Latvian company Longo Group in 2021 reached 9.6 million euros.
Longo Group was registered in 2017 and has a share capital of 12.97 million euros. The real beneficiary of Longo Group is Aigars Kesenfelds.
Longo Group is an international company operating in the used car sales segment. The company’s branches where cars are sold are open in Latvia, Lithuania and Estonia. In the Netherlands, Belgium and Germany, the company has branches specializing in the purchase of cars for sale in the Baltics.
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