publicity photo
Energy resource trader and convenient shopping store network “Virši” (AS VIRŠI-A and related group companies) has reached 162.4 million in the six months of 2023. EUR turnover, which, despite the drop in the prices of fuel products observed in the market in the first half of the year, is an increase of 5% or 7.7 million. EUR compared to the same period last year. Convincing growth dynamics were facilitated by the expansion and modernization of the network of filling stations, the diversification of the range of products in food stores, as well as the development of the energy segment.
By expanding and modernizing the gas station network, “Virši” invested almost 6 million. EUR in starting the construction of a new station in Olaine, rebuilding three stations in Riga (Sarkandaugava and Satekles Street) and Zīlāni, as well as opening two new “Virši” franchise stations in Preilii and Krāslava, thus strengthening its market position with already 72 “Virši” brand stations in the entire territory of Latvia .
The development of the trade segment contributed to the increase in the turnover of “Virši” convenient shopping stores by 24.5% or 4.5 million. EUR. Fuel retail volumes have also increased – in Latvia in the first five months of the year, they increased by 2.5% in terms of sold fuel tons, and in “Virši” concern – by 14.5%. This year, the energy business segment of “Virši” also continued to develop, reaching 10 million. EUR turnover. Thus, the company’s profitability indicator (EBITDA) increased by 14.5% in the first half of the year compared to the comparable period last year, reaching almost 7.6 million. EUR.
“2023. In the first half of 2018, “Virši” continued to successfully implement its development strategy both by increasing its market shares in the most important business segments and by introducing new initiatives related to ensuring the company’s sustainability. Also, in the first half of the year, extensive work was carried out in the company on products that we will offer to customers in the near future, for example, a mobile app, an electrical product for households, as well as new sales points where we will provide a range of store products outside the filling station environment,” he emphasized.r Jānis Vība, chairman of the board of “Virši”.
By installing solar panels on the roofs of the stations, a step has been taken to produce part of the electricity required for self-consumption, while the rest of the electricity is purchased from Latvian energy producers that produce electricity from renewable resources since the beginning of 2023. Currently, the company’s portfolio includes 65 local producers who use the sun, water, biomass and biogas to produce electricity. At the same time, almost half or 31 “Virši” stations produce solar energy for self-consumption, providing 485 kW of power and covering a significant part – on average 22% of the amount of electricity required for the operation of these stations. Thus, within the company, only renewable electricity produced in Latvia is used for self-consumption.
In addition, steps were also taken to expand charging options for electric car owners – in the first half of 2023, 3 charging stations were installed, providing a total of 7 charging ports where 5 cars can be charged simultaneously. In the coming months, thanks to the support of the EU’s Alternative Fuels Infrastructure Financing Instrument (AFIF), the company plans to install 11 more electric car charging stations with at least 24 connection points and equip a total of 14 “Virši” stations with electric car charging options by the end of the year.
Promoting sustainable development, the “Virši” sustainability working group was established in the spring of this year with the aim of researching, calculating, developing and implementing real and necessary sustainability solutions. The current report on the implementation of environmental, social responsibility and corporate governance principles will be published this September.
The full unaudited consolidated financial statement of AS VIRŠI-A group is available in the appendix and on the company’s website.
Chairman of the board Jānis Vība and board member Vita Čirjevska will inform more about the financial results of the first half of 2023 in a virtual conference on August 11 at 10:00 (in Latvian) and 11:30 (in English).
To participate in the virtual conference in Latvian, we invite you to apply in advance by registering: https://nasdaq.zoom.us/webinar/register/WN_V1fsxJE8QquAtIB453o4Aw.
After filling out the application form, a link to the webinar and information on joining the webinar will be sent to the specified e-mail.
AS VIRŠI-A shares are allowed to be traded on the Nasdaq Baltic First North Market.
The certified consultant of AS VIRŠI-A is the sworn law firm Eversheds Sutherland Bitāns.
About “Heather”:
“Virši” is a fast-growing local energy resource dealer and a chain of convenient shopping stores with 28 years of experience. Currently, the “Virši” network has 72 gas stations and more than 760 employees in all regions of Latvia. Since November 11, 2021, AS “Virši-A” shares have been included in the First North alternative market of the Nasdaq Riga stock exchange.
“Heathers”
2023-08-09 08:57:18
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