CleanR Grupa, the leading environmental services company in Latvia, has ended 2025 on a steady growth trajectory—the group has improved its financial results, strengthened its regional presence, continued investing in infrastructure and technology, and joined the Nasdaq Baltic regulated market, according to its unaudited 12-month financial statement.
CleanR Grupa's consolidated turnover for the 12 months of 2025 grew by 20%, reaching EUR 144.8 million, maintaining steady growth dynamics.
Also, operational efficiency indicators improved significantly. In the reporting period, the EBITDA increased by EUR 8.2 million—from EUR 25.5 million in 2024 to 33.7 million in 2025. The EBITDA margin grew to 23.3%, up 2.2 percentage points from a year earlier.
At the same time, the group’s gross profit amounted to EUR 31.1 million, which is 6.8 million more than in 2024, while the gross profit margin increased to 21.5%.
At the end of 2025, CleanR Grupa refinanced 15 million worth of bonds. During the public offering, investor interest exceeded the target offer 2.5 times, with the total demand amounting to EUR 37.8 million. The bond issue marks the first step in the group’s EUR 50 million bond program, aimed at financing its long-term growth. At the beginning of 2026, the company joined the Nasdaq Baltic regulated market, thereby ensuring its governance standards and access to capital for further development.
“We have been a member of the Stock Exchange since 2023, and during this period, we have earned our investors' trust in the company’s strategy, which has ensured sustainable development. This is also attested to by the Nasdaq Baltic Awards 2025 recognition for best investor relations, as well as the fact that around 60% of our investors chose to continue cooperation with us after the bond refinancing. That means trust,” emphasizes Guntars Kokorevičs, the CleanR Grupa Chairman of the Council.
The CleanR Grupa Chairman of the Management Board, Juris Gulbis, points out that in 2025 the group continued to strategically strengthen its regional presence and expand its service portfolio, as well as to invest in infrastructure and technology.
In July, we completed the acquisition of the regional company Tranzīts L, enabling Vizii Urban to gain a controlling stake and strengthen its presence in urban services in the Kurzeme region. Vizii Urban also signed an agreement to maintain the beaches in Jūrmala and oversee Rīga’s swimming areas, while Vizii Urban’s subsidiary KOM-Auto expanded its operations in Vidzeme and Latgale by a total of 65%, becoming Latvia’s largest private gravel road dust removal company.
In the waste management sector, CleanR won an Ogre municipality tender and expanded its operations in Ikšķile, Tīnūži, Ķekava, and Baldone, signing a seven-year contract. At the same time, CleanR acquired 41.25% of the Ķilupe shares and, at the beginning of 2026, received permission to merge, strengthening the company’s position in the regional market and diversifying its service portfolio.
From now on, the medical and hazardous waste management company Lautus will provide its services to the Emergency Medical Service, Riga 1st Hospital, and the Institute of Stomatology of Riga Stradiņi University.
In pursuit of the strategic aim to reduce landfilled waste and increase waste recovery, CleanR Industry significantly increased its recycling volumes during the reporting period. The production of refuse-derived fuel (RDF) grew by 76%, while the output of recycled plastic pellets increased by 54%. The company has begun increasing its production capacity to improve exportability, enabling it to divert a greater share of waste for recovery and reduce its burial in landfills.
In the meantime, Zaļā josta, the extended producer responsibility (EPR) service provider, expanded its range of services in the first half of 2025 by introducing new EPR in Latvia—the management of items containing plastics and power banks.
“Nearly all of the CleanR Grupa companies continue to invest in technology and infrastructure. For example, Vizii Urban spent more than five million euros updating its vehicle fleet and technical equipment by purchasing 25 new units of machinery, including EURO VI trucks that meet the strictest emission standards and electric vacuum sweepers for sidewalk maintenance. These investments increase work efficiency, reduce emissions, and ensure higher service quality standards,” explains Gulbis.
CleanR has targeted investments in modernizing waste sorting by expanding its underground waste container network. In Rīga and Jūrmala, there are currently a total of 100 sites comprising 395 underground waste containers; in March, Clean R opened the most cutting-edge separately collected waste collection site in Latvia, which is the first fully automated waste collection site in Rīga.
Also, in September 2025, CleanR opened its first biodegradable waste site in the town of Ikšķile, which uses sustainable water systems to process the waste, while Vides pakalpojumu grupa opened a new, separately collected waste collection site in Liepāja during the reporting period.
The group's companies, Lautus, CleanR Verso, and Vizii, continued to advance their technology and specialization.
In 2025, Lautus continued the systematic development and implementation of the initiatives launched earlier, cementing its position in medical and hazardous waste management and vacuum pumping services.
CleanR Verso, the industrial waste and building refuse handler, increased its building refuse recycling efficiency. It was facilitated by updated fleet vehicles, the acquisition of specialized vehicles, and increased efficiency at the building's refuse sorting and recycling center.
Meanwhile, the commercial cleaning provider Vizii increased its robot fleet to 126 units, boosting efficiency and work organization across large sites. In this segment, total investments in innovation surpassed half a million euros.
Alongside investing in infrastructure and technology, we believe it is important as a business to contribute to society by promoting environmental literacy and the circular economy. In 2025, as part of the Latvian Capital of Culture program, we participated with the environmental education concept site ŠŪNA (CELL) in the town of Cēsis. In cooperation with the Riga Energy Agency, we organized the Latvian Circular Economy forum, and at the end of the year, we supported the opening of “Pietura” (A Stop), a new public space inside the concert hall “Lielais Dzintars”. This is a space where creative ideas help make sustainability an everyday experience, bringing it closer to people and making it more familiar,” says Gulbis.
In the meantime, Zaļā josta participated in the social initiative “pRASmīgi!”, which was jointly implemented by the three largest EPR service providers, fostering awareness of responsible production, consumption, and recycling. In addition, the long-lasting mobile campaign Tīrmāja (Clean House) run by CleanR and Zaļā josta, which has become a well-regarded initiative by the public, during 18 trips to various Latvian municipalities collected a total of 1.3 thousand tons of sorted waste.
In the last quarter of 2025, the group received numerous awards: in December, CleanR Grupa was once again recognized as a family-friendly workplace; it won a silver prize in the “Diversity is Strength” initiative, and, for the first time, the group received international recognition—top level of excellence in sustainability reporting—ESG Transparency Awards. Toward the end of the reporting period, the Employee Council, the creation project for the CleanR Grupa employee representation body, was recognized by the Latvian Association for People Management.
CleanR Grupa was featured on #TOP101, Latvia’s most attractive employer list compiled by Nasdaq Riga and Prudentia, becoming the only private Latvian company to reach the TOP 10 of the best companies in corporate governance, alongside state- and municipal-owned companies.
About CleanR Grupa
CleanR Grupa operates the leading companies in Latvia's environmental services sector. CleanR Grupa includes CleanR, a municipal waste management company; CleanR Verso, an industrial and construction and demolition waste management company; Lautus, a medical and hazardous waste handler; CleanR Industry, a waste recycling company; Zaļā josta, an extended producer responsibility system provider; Vizii, a commercial cleaning company; Vizii Urban, an urban services business; and KOM-Auto and Tranzīts L, regional urban services providers.
The group companies serve half a million Latvian people daily. The group offers highly digitized environmental services, provides high-quality customer care, and demonstrates leadership in advancing sustainability and circularity. CleanR Grupa is a 100% Latvian capital company, with Guntars Kokorevičs as its Founder and Chairman of the Council.