City Service delisted but listed elsewhere

Shares in City Service will be removed from the Lithuanian bourse on April 30th, with the final trading day of City Service shares on the Baltic Main list will be April 29th. The company will remain listed on the Warsaw Stock Exchange.

City Service Group has been active on the Polish market since 2012, when the company acquired Zespól Zarzadców Nieruchomosci WAM (ZZN), an apartment building administration company. The company provides apartment building administration, technical maintenance, cleaning and other utility services and is also involved in heat installation and supply for some of the buildings it manages. City Service Group manages 9.9 mln sqm of apartment buildings and has 22 offices in the largest Polish cities. It has a 3.4 pct stake in the Polish apartment building market and manages almost 4000 communities.

In its home country of Lithuania, City Service is active in Vilnius, Kaunas, Klaipėda, Šiauliai, Panevėžys, Alytus, Palanga, Radviliškis and also in Šilutė and Pagėgiai districts. According to the company, the group has the largest market share in the commercial building facility management services sector in Lithuania. Among its customers are Palink, Ozantis, Philip Morris Lietuva, Swedbank, DNB, Baltisches Haus,Lesto, Statoil, Rimi, Maxima LT, the Lithuanian defence ministry and educational institutions in Vilnius.

City Service has also been present on the Latvian market since 2006, where the total area of its managed facilities amounts to 1.2 mln sqm. The company provides facility management services for all types of buildings: commercial and public buildings, apartment buildings and also atypical facilities such as petrol stations. The group also provides integrated facility management services to state-owned energy company Latvenergo, engineering system management services to SEB bank and Maxima stores, as well as Lukoil (the second largest petrol station chain in Latvia) and cooperates with the major developers of shopping centres in Latvia. The group has also acquired apartment building administration company Namu Serviss Apse, operating in Liepāja, for EUR 591,000. The total area of the facilities administered by the purchased company is more than 259,000 sqm.

City Service entered Russian market in 2006 by starting its activity in St Petersburg. Now the total area of the buildings managed by the company in Russia amounts to 4 mln sqm.