During the reporting period from 1 January to 30 September 2026, the Group achieved solid growth across its core markets, with total turnover reaching EUR 8,188,122. Rental turnover increased by 14% to EUR 4,399,023, compared with EUR 3,846,250 in the corresponding period of 2025, reflecting continued demand for the Group's services. The Group recorded a net loss of EUR 177,340. EBITDA increased by 36% to EUR 1,498,874, compared with EUR 1,099,676 in the same period of 2025. These results demonstrate that the Group's strategic direction continues to deliver measurable improvements in operating performance, supported by a gradually recovering market environment and disciplined operational management.
Performance in Latvia was particularly strong, with total turnover increasing by 7.8% compared with the corresponding period of 2025 to EUR 6,370,199. Rental turnover grew by 9.5%, reaching EUR 3,198,485 in the first three quarters of 2026. In Lithuania, sales turnover increased by 2.5% to EUR 1,520,476. This positive development was supported by continued investment in the Group's fixed asset base throughout 2025 and 2026, enabling the Group to respond effectively to rising demand. The Group continues to invest in new equipment, with an additional EUR 700,000 invested during the first nine months of 2026 to expand and modernise its equipment fleet.
During the reporting period, the Group successfully completed the refinancing of its EUR 4.5 million bond upon maturity. The maturing bond was refinanced through a new EUR 3 million bond issue, with the remaining balance refinanced through credit facilities. This represents an important step towards strengthening the Group's financial position and establishing a more balanced and sustainable financing structure. Together with improved operating performance, the new financing structure provides a solid foundation for continued investment in the equipment fleet, an effective response to market demand and further development of the Group's core business activities.
Demand for rental equipment continues to grow at a rate exceeding that of the broader construction sector. The strongest momentum is observed in the military, infrastructure and energy segments, which remain key focus areas for the Group. In parallel, the continued adoption of digital solutions, including the remote signing of rental agreements, has enhanced operational efficiency and improved the overall customer experience.
Building on the improvement in operating performance during the first nine months of 2026, supported by disciplined cost management and steady demand across priority segments, the Group remains well positioned for further progress. Management will continue to focus on operational efficiency, attracting new customers and enhancing the equipment fleet through targeted investments and the gradual replacement of older units, with the aim of sustaining growth and improving financial performance in the coming periods.
Gints Vanags
SIA Arsenal Industrial, CEO
Mobile: + 371 26 303 848
E-mail: gints.vanags@arsenalrent.com
www.arsenalnoma.lv
