Correction: interim financial statement document for the relevant period (first quarter) is attached
JSC (AS) Eco Baltia, the largest environmental resource management and recycling group in the Baltics, closed the first quarter of 2025 with a consolidated net turnover of €70.1 million. This represents a 13.2% increase compared to the same period last year, underlining the Group’s strategic growth and strengthening its market position.
The company’s growth has been driven by strong performance in the environmental management segment, combined with a clear focus on improving productivity, automating processes and enhancing overall efficiency. The Group’s EBITDA for the first quarter reached €8.3 million, a decrease of 8,8% compared to the same period last year.
Strategic development priorities
Throughout the reporting period, Eco Baltia companies advanced several key projects in both environmental services and material recycling. The Group’s main development focus included improvements to waste sorting systems, the expansion of construction waste recycling, enhanced management of textile waste and further development of PVC window recycling.
One of the most significant milestones was the opening of the Baltic’s most advanced packaging sorting facility, launched by Ecoservice in Lithuania. The project was implemented with an investment of €18 million.
At the same time, Latvijas Zaļais punkts adapted its operations to meet new regulatory requirements concerning the management of wet wipes and balloons. These changes ensure that producers and retailers can qualify for exemptions from the natural resource tax.
Looking ahead
AS Eco Baltia Chairman of the Board Māris Simanovičs: “An increasingly dynamic market environment demands not only flexibility but also strategic clarity from businesses. The results at the beginning of this year confirm that our chosen path — investing in innovation, strengthening international cooperation, and developing high-quality services — is the right one for the long term. We continue to integrate knowledge, technology, and experience to build a competitive and sustainable environmental management platform in the Baltic region.”
About Eco Baltia
Eco Baltia is the largest environmental resource management and recycling group in the Baltics, providing a full waste management cycle — from collection and sorting to the logistics and wholesale of secondary raw materials, and finally to their recycling, including PET and PE/PP plastics, as well as PET fiber production.
The Eco Baltic group ended 2024 with its largest ever audited consolidated turnover of 261.54 million euros, an increase of 20% compared to 2023.
The Group employs over 2,600 people across its companies in Latvia, Lithuania, Poland, and the Czech Republic. Its largest subsidiaries include Eco Baltia vide, Latvijas Zaļais punkts, Nordic Plast, Oil Recovery, and ITERUM in Latvia, Metal-Plast in Poland, TESIL Fibres in the Czech Republic, and Ecoservice in Lithuania.
The shareholders of Eco Baltia are the private equity fund INVL Baltic Sea Growth Fund (52.81% via UAB BSGF Salvus), the European Bank for Reconstruction and Development (30.51%), and Māris Simanovičs (15.93% via SIA “Enrial Holdings” and 0.75% via “Penvi Investment” Ltd).