Latvia · Delayed Price · Currency is EUR AS Virsi-A Earnings Call Transcripts
Fiscal Year 2025
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Record EBITDA and net profit growth in 2025 driven by network expansion, diversification, and strong convenience store performance. Biomethane plant and Astarte-Nafta deal set to boost future results, with stable financial ratios and a positive outlook.
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Investments in new stations and a biomethane plant are driving market share gains, with gross profit up 8.6% year-over-year. Despite higher costs and a dip in net profit, the outlook is positive as new assets ramp up and alternative fuels expand.
Fiscal Year 2024
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2024 saw record investments and network expansion, with gross profit up 9.3% and convenience stores nearing 50% of gross profit. EBITDA was stable, net profit dipped due to higher costs, and ROE was 6.7%. Strategic targets are delayed to 2027, with strong future growth expected.
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First-half 2024 results showed gross profit up 6.6% and net profit at EUR 2 million, despite a 16.9% EBITDA drop due to heavy investment and expansion. Fuel and convenience store segments outperformed the market, and significant progress was made in alternative fuels and network growth.