Virsi-A (VIRSI) H1 2026 earnings summary

Executive summary

• Achieved record market shares in fuel and shop segments, with turnover of €229.7 million in H1 2026, net profit of €4.2 million (+187%), and EBITDA of €10.1 million (+61%).

• Integrated 17 Astarte stations, expanding the network to 101 sites, and launched compressed biomethane at 11 stations.

• Biomethane plant construction completed and test production underway, with full financial benefits expected from 2027.

• Recognized as a top employer in Latvia, with workforce growth and successful team initiatives.

• Strategic focus on alternative fuels, energy diversification, and leveraging new regulatory frameworks.

Financial highlights

• Net profit for H1 2026 reached €4.2 million, up 187% year-over-year; EBITDA was €10.1 million, up 61%.

• Turnover for H1 2026 was €229.7 million (+22%), with gross profit up 23.2% to €25.6 million.

• Fuel turnover reached €184.5 million (+29%), convenience store turnover €31.8 million (+11%), energy turnover €12.5 million (-19%).

• CapEx investments totaled €5.3 million, focused on network expansion and upgrades.

• Earnings per share before and after dilution were €0.28 (H1 2025: €0.10).

Outlook and guidance

• Full integration and rebranding of Astarte stations expected by year-end, with application for four more stations pending regulatory approval.

• Biomethane plant to be fully operational by September, with significant returns anticipated from 2027.

• Continued focus on alternative fuels, renewable energy, and circular economy solutions.

• Strategy review for Lithuanian operations ongoing, with expansion, status quo, or exit under consideration.

• Profit for the period is proposed to be retained for further development.