AS APF Holdings (Nasdaq Riga First North: EGG), which includes one of the largest egg producers in the Baltics – SIA Alūksnes putnu ferma – achieved strong growth and profitability in the first six months of 2025.
According to unaudited interim consolidated results, the Group’s revenue rose by 70% year-on-year to EUR 10.0 million, while adjusted EBITDA more than tripled to EUR 3.4 million. Net profit reached EUR 1.7 million, compared with a net loss of EUR 0.5 million in the first half of 2024. Gross profit increased by 183% to EUR 4.2 million, supported by higher sales volumes of 59 million eggs (+23% year-on-year).
Capacity Expansion and Market Momentum
On 8 May 2025, APF Group inaugurated three new facilities in Alūksne with a combined area of 6,500 m² – two state-of-the-art laying hen houses and a new liquid egg processing and warehouse complex. The EUR 13 million investment, including EUR 2.9 million in EU co-financing, expands annual production capacity by 60% to 180 million eggs. This creates a strong platform for accelerated growth in the second half of 2025 and beyond.
The Baltic egg market continues its rapid transition from caged to barn and cage-free production, driven by consumer demand for higher animal welfare and by retail chains across Latvia, Lithuania, and Estonia. APF has reinforced its market position during this shift, expanding retail partnerships and supplying products aligned with evolving consumer expectations. Export sales now account for more than 50% of total turnover, with volumes up 59% and revenues up 167% year-on-year.
Management Commentary
“The first half of 2025 clearly demonstrates that our strategic investments are paying off – we have expanded capacity, delivered stronger financial results, and secured a leading position in the region’s transition to cage-free production. With this foundation, we are confident about the remainder of the year and are well on track to deliver on our 2025 targets,” said Jurijs Adamovičs, Founder and Chairman of the Management Board of APF Holdings.
The shares of AS APF Holdings are admitted to trading on Nasdaq Baltic First North Market.
About APF Holdings
APF Holdings (NASDAQ: EGG) is a dynamic group of companies engaged in poultry farming, chicken egg production and trading, as well as gas and organic fertilizer production related to poultry farming processes. Our portfolio includes SIA Alūksnes putnu ferma (poultry farming and egg production), SIA APF Trading (wholesale trade in chicken eggs), SIA Oluksne (providing poultry farming and egg production services), SIA APF Energy (gas and organic fertilizer production), and SIA Preiļu putni (poultry farming and young chicken rearing). Founded in 2017, APF Holdings has become a leading player in the Baltic region's poultry and egg industry.