Month: December 2025

“Eco Baltia” continues growth in the first nine months of 2025 – turnover reaches EUR 214 million

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Eco Baltia, the largest environmental resource management and recycling group in the Baltics, increased its net turnover to EUR 214.03 million in the first nine months of 2025, which is 11.4% more than in the same period last year. This growth was ensured by targeted performance in the group’s core business lines — environmental management services and recycling — through consistently increasing productivity, automation levels, and process efficiency.

Strategic development directions

During the reporting period, investments in waste management infrastructure and technologies were maintained to increase sorting and recycling capacities, improve the quality of secondary raw materials and enhance competitiveness in the Baltic region and other export markets. The requirements of the European market further reinforce this focus, as technological modernisation is becoming a key prerequisite for sustainable growth.

During the first nine months of 2025, Eco Baltia continued to expand its environmental management services and strengthen its presence in various regions. This was facilitated by the group’s companies participating in tenders, including in the Ādaži region. Following its success, Eco Baltia vide’s contract with the local government provides for the provision of services over a seven-year period, with a projected volume of EUR 22 million (excluding VAT). At the same time, specialized services for specific waste streams have also been developed, such as construction waste, textiles and PVC materials – which allows for more efficient collection and processing, as well as offering customers a more complete range of solutions alongside everyday household waste management.

Considering the challenging conditions in the European recycled polymer market, Eco Baltia continued to expand its sales in foreign markets, as well as improve its operational performance with cost optimization and increased production efficiency, which allows it to maintain its competitiveness in the challenging market conditions.

Māris Simanovičs, Chairman of the Management Board of “Eco Baltia”:
“In 2025 we have maintained a stable growth rate based on investments in sorting and recycling capacities, a well-considered cost policy and higher operational performance, expanding our presence in the Baltic markets. Our priority is sustainable growth, creating greater added value throughout the circular economy chain. This strengthens competitiveness and forms a stable foundation for long-term development.”

At the same time, “Eco Baltia” continued to strengthen its corporate standards and sustainability management system by introducing a unified approach to ESG issues, risk management and regular, transparent communication with partners, clients and investors. Sustainability goals are becoming an integral part of business development – they are closely linked to more efficient use of resources, modernisation projects and compliance with requirements that often determine competitiveness in the European market.

Eco Baltia signs syndicated financing agreement with Luminor Bank and SEB banka

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On December 29, 2025, AS Eco Baltia and its subsidiary SIA Eco Baltia vide signed a syndicated financing agreement with Luminor Bank and SEB banka, securing long-term financing of up to EUR 132 million, of which EUR 30 million is available under a separate agreement. The financing will be used to refinance existing liabilities and provide additional financial capacity.

Under the syndicated financing agreement, the Group companies have secured refinancing of their existing financial obligations and long-term financing in the amount of EUR 102 million, as well as the possibility of additional financing of up to EUR 30 million, available under certain conditions. This structure will allow the Group to plan its cash flows flexibly and adjust the amount of available financing according to its actual needs.

Māris Simanovičs, Chairman of the Management Board of Eco Baltia: “The syndicated loan agreement strengthens the Group’s financial stability and provides a solid foundation for our future growth. Cooperation with Luminor Bank and SEB banka allows us to refinance our existing liabilities and secure resources for future development at the same time.”

The syndicated financing with Luminor Bank and SEB banka is a targeted step in optimizing the Group’s capital structure. It combines the refinancing of existing liabilities with access to long-term financing, providing the Group with flexibility and greater predictability in future periods. The financing agreement supports Eco Baltia’s development plans and strengthens the Group’s competitiveness in the Baltic region.

“Eco Baltia is our long-standing client, demonstrating a strong and sustainable business model with stable financial performance and a strong position in the Baltic market. We are delighted to be part of this cooperation, which marks a new phase in our partnership, promoting further growth and the development of the circular economy in the Baltic region,” says Ilze Zoltnere, Head of the Corporate Department at Luminor Bank.

“We are delighted to have the opportunity to start cooperation with Eco Baltia, the leading Baltic environmental resource management and recycling group. The group’s companies are an excellent example of how investing in effective, sustainable solutions tailored to society’s needs can drive growth and development. Such companies are an essential part of the Latvian and Baltic economies, and our goal is to provide them with long-term support. The Eco Baltia group has significant potential to continue its successful growth story with SEB banka as a reliable financial partner. With the secured financing, we are refinancing existing liabilities and supporting investments in the company’s future development in the coming years,” says Ints Krasts, Member of the Board of SEB banka.

Eco Baltia vide expands its operations in Latvia by acquiring a majority stake in a company in Daugavpils

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Eco Baltia, the largest environmental resource management and recycling group in the Baltics, has expanded its operations in Latvia by acquiring a majority shares in a company in Daugavpils. The group’s environmental management company Eco Baltia vide acquired 98% stake in road maintenance and waste management company Daugavpils specializētais autotransporta uzņēmums (DATU).

Before the transactions concluded in November and December of this year, the Eco Baltia group already owned 40.4% of DATU shares.

Jānis Aizbalts, Chairman of the Management Board of Eco Baltia vide: “By acquiring DATU, we have taken a strategically important step in the Latgale region. This acquisition provides a foundation for the development of a modern, efficient and integrated network of waste management and road maintenance services. Our experience of providing road maintenance and environmental management services in Riga and other parts of Latvia has demonstrated that the private sector can offer competitive, financially attractive and sustainable services. By integrating DATU into the Eco Baltia group, we aim to gradually introduce our corporate standards, promote occupational safety and efficiency, and improve the quality of environmental services throughout Latgale.”

After the transaction, DATU will continue to provide its daily services as usual. No changes to existing cooperation agreements and established practices are currently planned for the clients, partners and employees of the parties involved in the transaction.

Changes in corporate governance

Following the conclusion of the transaction, changes have been made to the Management board of DATU. The existing board, consisting of Chairman Aleksejs Oglodkovs and board member Jeļena Pētersone, has been joined by board member Andris Ziemelis, who is also a long-standing member of the Management board and CEO of Eco Baltia vide.

Eco Baltia vide plans that, going forward, DATU will gradually introduce the Eco Baltia group’s corporate standards in management, environment, occupational health and safety and quality. This will include streamlining processes, introducing modern solutions in customer service, and using resources more efficiently in order to strengthen the company’s competitiveness in both the waste management and road maintenance segments in Latgale.

About Daugavpils specializētais autotransporta uzņēmums

Joint stock company Daugavpils specializētais autotransporta uzņēmums was founded in January 1973. The company provides waste management services to municipalities in the Latgale region, ensures street cleaning and maintenance in the city of Daugavpils, and offers transportation services. In 2024, the audited turnover of “Daugavpils Spec. ATU” was EUR 5.6 million, and the company employs about 100 people.