CleanR Grupa prepares for a new public bond offering in the Baltics

AS CleanR Grupa (the Group), a group of leading companies in the environmental services sector in Latvia, plans to launch its first public bond offering in all three Baltic states in Q4 2025, targeting up to EUR 15 million. This will be part of a new bond programme of up to EUR 50 million, aimed at supporting further development and expansion in the Baltic region.

Proceeds from the bond issue are intended to refinance existing obligations and support further growth, including potential mergers and acquisitions (M&A), also in Lithuania and Estonia.

“Our 2025–2027 strategy sets out sustainable growth and the strengthening of our market position in the Baltic environmental services sector. Across Europe, circular economy and green transition objectives are being implemented with growing intensity, creating additional growth opportunities for our industry. The bond programme will enable us to advance these plans on a broader scale, while offering investors the opportunity to join a forward-looking and responsible corporate group. We believe this will be an investment in a cleaner tomorrow – for society and for the planet,” says Juris Gulbis, Chairman of the Management Board of AS CleanR Grupa.

“CleanR Grupa is one of Latvia’s most valuable private companies and a recognized leader in the circular economy. The Group provides a full waste-management cycle — from collection and sorting to recycling — making it one of the most trusted and experienced market players in the sector. The Group’s strong financial results, combined with a well-considered growth strategy, will provide a quality investment opportunity for a broad range of investors,” says Kristiāna Janvare, Head of Investment Banking at AS Signet Bank.

After the issue date, CleanR Grupa will apply to Nasdaq Riga for admitting the bonds to listing and trading on the Regulated market – the Baltic Bond list. Currently, the Group’s existing bonds, previously issued in a private placement, are listed on Nasdaq Baltic First North.

This time, CleanR Grupa bonds will be available to a broader investor base, allowing participation in the public offering by both retail and institutional investors.

The bond issue is organised by Signet Bank, with legal advice provided by law office Eversheds Sutherland Bitāns.

About AS CleanR Grupa
CleanR Grupa operates the leading companies in the environmental services sector in Latvia. It is structured around two core segments – waste management and environmental services. Together, the companies serve half a million people across Latvia every day. The group offers highly digitized environmental services, provides high-quality customer care, and demonstrates leadership in the pursuit of sustainability and circularity.

CleanR Grupa includes CleanR, a municipal waste management company; CleanR Verso, focused on industrial and construction and demolition waste; CleanR Industry, a waste recycling business; Zaļā josta, an extended producer responsibility system provider; and Lautus, a medical and hazardous waste operator. Its environmental services portfolio comprises Vizii, a cleaning company, along with the urban servicing businesses Vizii Urban, KOM-Auto and Tranzīts L.

Turnover in the first half of 2025 increased by 12.9 million euros, or 23%, compared to the first half of 2024, reaching 68.6 million euros. EBITDA increased by 4.2 million euros, reaching 16.3 million euros compared to the same period in 2024, when the indicator reached 12.1 million euros, confirming that the Group's companies continue to expand their operations while maintaining profitability. Investments during the reporting period totaled EUR 8 million, representing a 52% increase compared to the corresponding period of the previous year.

CleanR Grupa has won the Best Investor Relations award of the Nasdaq Baltic Awards 2025 in the First North bond market.

AS CleanR Grupa is a 100% Latvian capital company, with Guntars Kokorevičs as its Founder and Chairman of the Supervisory Board. He has more than 20 years of experience in the environmental services industry and extensive expertise in structuring M&A transactions. Previously, he was CEO of the Riga Stock Exchange and currently serves as a Supervisory Board Member of the Latvian Employers’ Confederation and Junior Achievement Latvia.

The disclaimer: This announcement is an unpaid marketing communication in accordance with the Prospectus Regulation and does not constitute investment advice or an offer. The information provided herein contains general forward-looking statements on the intended public offering of bonds of AS CleanR Grupa. Every investment decision must be based on a base prospectus approved by the Bank of Latvia and final terms. An approved base prospectus and the final terms will be published on AS CleanR Grupa website once available.