Smart projects and courage to take risks is what replenishes bank accounts. Article in the Lithuanian business daily “Verslo žinios”


Ambitious projects abroad and initiative employees ensure for Elsis Group, incorporating several information technology companies, regular orders and nearly double growth in revenues.

Elsis Group focuses on the development of smart technologies. Revenues generated from creating software for such technologies accounts for about half of all revenues, even though 5 years ago they reached a mere 10-20%. The increase in the need for smart technologies led to an increase in revenues of the company.

The CEO of Elsis Group Arūnas Gedvila names an agreement with the German “Airbus Defence and Space GmbH” as one of the most significant agreement for the company. Upon the order of NATO, the German company, together with other key partners, is developing a global surveillance system, while the Lithuanians are engaged in the development of the software for this system. “We have recently extended the agreement with the “Airbus Defence and Space GmbH”, we will continue working with this project and we have increased the scope of works”- Mr. Gedvila rejoiced. He believes that Lithuanians are lucky because working in the multi-national project they chose to be active. Instead of waiting for orders formed for them, specialists of the Elsis Group proposed various solutions themselves, “pushed” partners to move forward. Of course, the CEO does not hide that such a stance was quite risky and not always profitable, as some works carried out had to be redone.

“We understand that this is the way for us to become such a partner for Germans, who they will continue working with in the future” – hopes Mr. Gedvila. – “Airbus Defence and Space GmbH” offered us a cooperation model never used before. Instead of forming well defined tasks and asking us to implement them, they simply tell what is needed from us, while we search for solutions how to do that what’s needed by ourselves.”

The Italian aerospace concern “Alenia Aermacchi” is also generous with orders to Lithuanians. Together with this company Elsis Group participates in the EU programmes aimed at creating future aviation technologies.


Full article here: “Verslo žinios”