In the first half of 2025, the Company continued the implementation of changes to its previously developed sales strategy and development of the E-commerce direction.
Market conditions were influenced by a decrease in customer purchasing power across the industry, which was not fully reflected in the Company’s initial 2025 plans. In response to the weaker performance observed in the early months of the year, the Company introduced an extensive cost-optimisation programme in the second quarter, including a significant reduction of administrative expenses and a reassessment of growth and expansion priorities.
A strategic review of the subsidiary Printero revealed a persistent shortfall in both sales volumes and development pace compared with expectations. To prevent further negative impact on Company performance, a decision was taken in May to divest the Company’s 85% shareholding. The transaction had a one-off adverse effect of EUR 33,180 on the Company’s first-half results.
The cost-control and efficiency measures implemented have already yielded positive effects. For the first six months of 2025, Company turnover increased by 6.8% compared to the corresponding period of the previous year, while consolidated EBITDA reached EUR 422,857 which is 11% higher than in the first half of the previous year.
The Company will continue to focus on implementing changes to the sales strategy and developing the E-commerce direction, with the aim of finalising key improvements by year-end 2025. As a result, Hestio expects to improve profitability indicators and ensure stable competitiveness in future periods.
About Hestio
Hestio AS is one of the leading workplace solution providers in Latvia, helping companies create a more comfortable, modern and sustainable working environment since 2007. The Company offers full-service solutions — from office supplies and coffee machine leasing to cleaning services and corporate gifts — ensuring that our clients can focus on their core business operations while Hestio takes care of the details that enhance the workplace experience. Hestio is based on values – team, experience, care, inspiration, and its mission is to improve employee well-being and ensure excellent work rhythm.
On December 19, 2023, Hestio bonds were listed on the Nasdaq Riga Baltic First North market, starting a new phase of development with a focus on transparency and long-term value growth.