Virsi-A
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Virsi-A (VIRSI) investor relations material

Virsi-A H1 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2025 earnings summary15 Aug, 2025

Executive summary

  • Revenue for H1 2025 reached €188.6 million, up 2% year-over-year, with net profit at €1.5 million, down 27.4% from H1 2024; gross profit rose 8.6% to €20.7 million, and EBITDA remained stable at €6.3 million.

  • Significant investments of nearly €30 million since early 2024, including the largest biomethane plant project and expansion to 83 filling stations, are expected to drive long-term growth.

  • Market share and sales volumes grew across all business segments, with fuel sales volume up 11.5% year-over-year and convenience stores now contributing over 50% of group gross profit.

  • Strategic exit from non-fuel shop-only locations and closure of underperforming stores to focus on core fuel station model.

  • Focus on efficiency, sustainability, and diversification, with progress in alternative fuels and EV charging infrastructure.

Financial highlights

  • Turnover for H1 2025 was €188.6 million (+2% year-over-year), gross profit increased by 8.6% to €20.7 million, and EBITDA was €6.3 million.

  • Net profit declined to €1.5 million (-27.4% year-over-year), mainly due to higher costs and energy segment losses.

  • Selling costs rose by 16.1% due to network expansion and higher staff numbers.

  • Investments totaled €7.4 million in H1 2025.

  • Cash and cash equivalents at period end were €3.1 million.

Outlook and guidance

  • Management expects improved financials in H2 2025 as new stations reach full capacity and further market share growth.

  • Biomethane plant expected to begin production in H1 2026, supporting sustainable energy growth.

  • No current plans to adjust 2027 net profit targets; diversification and alternative fuels remain key growth drivers.

  • Anticipated increase in fossil fuel costs due to ETS2 system implementation.

Strategy for high energy balancing costs
Rationale for exiting non-fuel shop segment
When will new stations reach full profitability?
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H2 20256 Mar, 2026
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Frequently asked questions

AS Virsi-A is a Latvian company engaged in the retail and wholesale of oil products, including diesel fuel, petrol, gas, heating fuel, and compressed natural gas. The company also operates convenience stores that sell a variety of products such as vehicle accessories, food, beverages, and household items. Additionally, Virsi-A offers services like car washes, trailer rentals, and electric vehicle charging stations. The company is expanding its retail network and has recently ventured into providing more diverse food options at its service stations, including offerings for vegan and vegetarian customers. AS Virsi-A is headquartered in Aizkraukle, Latvia, and its shares are listed on the Nasdaq Riga.

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