Rīgas ūdens SIA has published its unaudited condensed interim financial statements for the first six months of 2026. Operating revenue reached EUR 45.4 million, representing a 14.7% increase compared to the corresponding period last year. EBITDA increased to EUR 19.7 million, while capital expenditure amounted to EUR 24.1 million, the highest first-half investment level recorded in the past five years.
The unaudited condensed interim financial statements of Rīgas ūdens SIA for the six-month period ended 30 June 2026 are available through the Nasdaq Baltic information system and on the Company’s website.
The Company’s net profit for the first half of 2026 amounted to EUR 4.3 million, while the equity ratio at the end of the reporting period stood at 71.0%, maintaining a solid foundation for the continuation of its extensive investment programme.
Krišjānis Krūmiņš, Chairman of the Management Board of Rīgas ūdens SIA:
"The results for the first half of the year demonstrate our ability to simultaneously increase investment volumes, maintain financial stability and prepare for the next stage of capital market financing. Our first European Green Bond issuance enabled us to raise EUR 20 million for infrastructure development, providing valuable experience in the capital markets. By the end of 2025, 85.7%, or EUR 17.14 million, of the proceeds raised through the issuance had already been allocated to projects, and 100% of the allocated funds had been directed to projects compliant with the EU Taxonomy. We are now ready for the next step – a European Green Bond issuance of up to EUR 40 million, which we plan to carry out towards the end of 2026."
During the first half of 2026, Rīgas ūdens continued the implementation of several significant infrastructure projects. Solar power plants were commissioned at the Daugavgrīva Biological Wastewater Treatment Plant and the Daugava Water Treatment Plant. Two new settling tanks were constructed at the Daugavgrīva Biological Wastewater Treatment Plant, and a total of 8.0 kilometres of water supply and sewer networks were rehabilitated during the first six months of the year. The largest part of the financing to be raised through the next bond issuance is planned to be invested in the further development of the Daugavgrīva Biological Wastewater Treatment Plant and the continuation of the sewer network rehabilitation programme.
The Company’s financial stability is further evidenced by the decision of the international credit rating agency Moody’s Ratings to maintain Rīgas ūdens’ long-term issuer credit rating at A3 with a stable outlook for the third consecutive year.
In preparation for the next bond issuance, Rīgas ūdens will hold an investor webinar on September 22 at 10:00, during which the Company’s Management Board will present the first-half financial results, the progress of the investment programme and the plans for the next European Green Bond issuance. Investors and other interested parties are invited to join the webinar remotely.
About Rīgas ūdens SIA
Rīgas ūdens SIA is the largest water utility company in Latvia, providing water extraction, treatment and supply services, as well as wastewater collection and treatment services in Riga and the surrounding area. The Company’s priorities are the provision of high-quality services, infrastructure development and the sustainable use of resources. Rīgas ūdens was the first municipal company in Latvia to raise financing in the capital markets and the first company in Northern Europe to issue bonds in accordance with the European Green Bond (EuGB) Standard.