VIRŠI-A: AS VIRŠI-A reports net profit of EUR 4.2 million in the first half of the year

In the first six months of the year, energy commodities trader and convenience store network Virši (AS VIRŠI-A and its affiliated group companies) reported a net profit of EUR 4.2 million, while the Company's unaudited turnover increased by 22% to EUR 229.7 million. The Company's EBITDA for the first six months of the year increased by more than 60%, reaching EUR 10.1 million.

"We have started the year on a growth trajectory. We have completed the takeover of 17 Astarte service stations, while construction of the Company's biomethane plant in Naukšeni has been completed and production has now commenced in test mode. We have reached two new development milestones - the Virši network now exceeds 100 service stations, and the Company employs more than 1,000 people. Despite ongoing uncertainty in global energy markets, the Company has managed to continue increasing market share across all business segments, which is reflected in positive profitability indicators," emphasizes Janis Viba, Chairman of the Management Board of Virši.

The Company's investments during the first half of the year amounted to EUR 5.3 million. In addition to developing alternative fuels, Virši continues to invest in the expansion of its service station network and the renovation of existing stations. By the end of the year, all acquired Astarte service stations are expected to have fully adopted the Virši visual identity and to operate in accordance with the Company's customer service and convenience store concept standards.

Revenue from fuel product sales increased by 29% compared to the corresponding period last year. Fuel retail volumes in Latvia increased by 3.4% during the first five months of the year, while Virši' sales volumes grew by 6.2%. As a result of geopolitical developments in the Middle East, the market experienced significant fluctuations in fuel prices. At the same time, similarly to 2025, competition in Latvia's fuel retail market remained high.

The convenience store segment generated turnover of EUR 31.8 million in the first half of 2026. This represents a 11% increase compared to the corresponding period last year, driven by the expansion of the service station network as well as continuous improvements to the range of products and services offered to customers.

The energy segment stabilized its performance in the first half of 2026 following a challenging 2025, reaching a turnover of EUR 12.5 million. At the end of 2025, the Company reviewed its supplier and customer portfolio, while in 2026 it continued the targeted expansion of its private customer portfolio.

The full unaudited consolidated financial statements of AS VIRŠI-A Group for the first six months of 2026 are available in the attachment and at www.virsi.lv.

The Company invites interested parties to join a webinar on 14 August to present the results for the first half of 2026.

AS VIRŠI-A is a rapidly growing local energy commodities trader and convenience store network with more than 30 years of experience. Currently, the AS VIRŠI-A network comprises 101 service stations employing more than 1000 people across all regions of Latvia.

Since 11 November 2021, the shares of AS VIRŠI-A have been admitted to trading on Nasdaq Riga First North Alternative Market.
The certified adviser for AS VIRŠI-A is Signet Bank AS.

Contact information:

AS VIRŠI-A
Undine Priekule
E-mail: [e-mail]
Telephone: [phone]

Certified adviser:
Signet Bank AS
Kristiana Janvare
E-mail: [e-mail]
Telephone: [phone]