Last year, energy commodities trader and convenience store network Virši (AS VIRŠI-A, the Company and its affiliated group companies) achieved a turnover of EUR 398.1 million, reflecting an 4.6 % increase compared to 2024. The Company's unaudited consolidated profit for 2025 reached EUR 5.5 million, while EBITDA amounted to EUR 15.2 million. To strengthen its market position and promote long-term growth, investments made last year reached EUR 10.6 million.
In 2025, Virši successfully continued implementing its development strategy, which focuses on expanding and modernising the service station network, developing alternative fuels, and strengthening its market position in the energy segment.
“2025 was characterized by high geopolitical uncertainty, which continued to limit Latvia’s economic growth. At the same time, the reporting period was successful for the Company, with the highest EBITDA and market share indicators in the Company's history. Last year saw a significant increase in sales volumes across the service station network, as well as continued diversification of the business model through the development of the energy and biomethane production segments," emphasizes Jānis Vība, Chairman of the Board of Virši.
During the reporting period, one of the most ambitious projects in the Company's history was launched – the construction of a biomethane plant in Naukšēni. Despite the high technical and organizational complexity of the project, its implementation has been successful, and the Company plans to start biomethane production in the first half of 2026. The Transport Energy Law (TEL) adopted at the end of the year, combined with the establishment of the new biomethane plant and the existing Virši compressed gas trading infrastructure, creates a positive environment for the further development of alternative fuels and provides an opportunity to offer the market environmentally friendly, Latvian-produced alternative transport energy in the future.
The largest business segment – convenience stores – accounted for 51.8 % of Virši gross profit in 2025, or EUR 22.9 million, which is 11.7 % more than in 2024. The segment's development was driven by a high-quality and diverse product range, a revised loyalty program, and consistently high customer service standards. At the same time, the macroeconomic slowdown and high food price inflation posed challenges.
Fuel product sales maintained stable growth – in 2025 gross profit reached EUR 21.4 million, which is 9 % more than in the previous year. Despite intense competition and price fluctuations, fuel retail sales grew by 10.8 %, significantly exceeding the overall market growth.
In the field of alternative fuels, the electric car charging network has been significantly expanded with the opening of additional charging stations in six locations in Latvia, as well as the opening of the first charging station outside the country – in Marijampolė, Lithuania. Compared to 2024, the amount of electricity charged in the Virši network has increased by 119 %.
Continuing the expansion of the network, new service stations were opened in Salacgrīva and Kuldīga in 2025, and renovations were carried out at several existing stations. With the increase in the number of stations and the development of operations in the regions, the number of employees also increased significantly – at the end of 2025, Virši employed more than 900 people, and the company's network consisted of 84 service stations.
The full unaudited consolidated financial statements of AS VIRŠI-A Group for 2025 and the Sustainability Report are attached in the appendix and www.virsi.lv.
The shares of AS VIRŠI-A are admitted to trading on Nasdaq Baltic First North Market.
The certified adviser for AS VIRŠI-A is Signet Bank AS.
Virši is a rapidly growing local energy commodities trader and convenience store network with more than 30 years of experience. Currently, Virši operates 84 service stations and has more than 900 employees throughout Latvia. Since 11 November 2021, the shares of AS VIRŠI-A have been listed on the Nasdaq Riga First North Alternative Market.
Contact information:
AS VIRŠI-A
Undīne Priekule
E-mail: undine.priekule@virsi.lv
Telephone: +371 26141219
Certified adviser:
Signet Bank AS
Kristiāna Janvare
E-mail: Kristiana.Janvare@signetbank.com
Telephone: +371 29 165 625