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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.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 2024, and EBITDA stable at €6.3 million.
Gross profit increased by 8.6% to €20.7 million, driven by both fuel and convenience store products, with convenience stores now contributing over 50% of group gross profit.
Significant investments in new fuel stations and a biomethane plant, totaling €7.4 million in H1 2025, are expected to drive future growth, though returns are lagging due to ramp-up periods.
Strategic exit from non-fuel shop-only locations due to insufficient profitability, focusing on core fuel station model.
The Group maintained a focus on efficiency, sustainability, and diversification, with progress in alternative fuels and EV charging infrastructure.
Financial highlights
Total turnover rose to €188.6 million (+2% year-over-year), with gross profit up 8.6% to €20.7 million and EBITDA stable at €6.3 million.
Net profit declined to €1.5 million (-27.4% year-over-year), mainly due to increased depreciation, amortization, and energy segment losses.
Selling and cost of sales rose, with 90% attributed to employee and station maintenance costs.
Investments totaled €7.4 million, down from €9.9 million in H1 2024.
Cash and cash equivalents at period end were €3.1 million, down from €4.0 million at year-end 2024.
Outlook and guidance
High potential for improved financials in H2 2025 as new stations reach full operational capacity.
Biomethane plant expected to begin production in H1 2026, with modeled strong returns and support for sustainable energy growth.
No current plans to adjust 2027 net profit targets; diversification and alternative fuels seen as key growth drivers.
The Group aims to continue expanding its alternative fuel and EV charging offerings.
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H2 202527 Feb, 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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