For the Latvian food production group AS Agrova Baltics (previously “APF Holdings”), 2025 was the most successful year in the company’s development history. According to unaudited figures prepared by the company’s management, in 2025 net turnover reached 24.3 million euros (+92% compared to 2024), adjusted EBITDA – 9.2 million euros (+257%), while profit for the reporting period amounted to 5.2 million euros.
Last year’s growth was mainly driven by an increase in the volume of eggs sold to 146 million eggs, which is 47.5% more than in 2024. Additional growth was also supported by an increase in production capacity, improvements in process efficiency, the development of the sales structure, and the expansion of the product portfolio.
Agrova Baltics founder and Chairman of the Board Jurijs Adamovičs points out: “During the IPO in 2023, we clearly defined our growth targets and development direction for investors. Today we can say that the 2025 financial results have exceeded these targets. This did not happen by chance, as these indicators are underpinned by focused teamwork, investments in production capacity, and a consistent strategy for the company’s development and the expansion of its product portfolio. These results strengthen our confidence in our development trajectory and at the same time mark the next stage of growth. Therefore, we are currently assessing the possibility of issuing bonds to finance the further investment programme and strengthen the company’s development. Of course, the launch of the issue, its size, maturity, collateral and other terms will depend on market conditions. However, our goal remains unchanged – to continue developing “Agrova” into an internationally competitive food production group that creates long-term value for both customers and investors.”
The company is considering issuing secured bonds in 2026 to finance the further investment programme and refinance part of its existing liabilities. It is planned that the bonds could be issued as a programme of up to 25 million euros, and subscription to them would be public and available to investors in all three Baltic countries.
Importantly – the above financial figures are unaudited and preliminary, and therefore may be adjusted during the preparation of the full annual report. The company’s audited financial statements for 2025 will be published by the end of June 2026.
Agrova is a European agri-food brand and group whose main shareholder is Agrova International. The group specializes in egg production and processing, as well as in the development of egg products and functional nutrition products. The Agrova group was established in 2025 in Riga, Latvia, by entrepreneur Jurijs Adamovičs with the aim of developing a globally competitive egg and egg product production platform based on Latvia’s agricultural excellence, science, and responsible conduct throughout the value chain. Currently, Agrova manages production facilities in Latvia and the United Kingdom, ensuring sustainable supplies to retail chains, the public catering sector and food industry companies across Europe.
Originally published at https://inc-baltics.com/agrova-baltics-finansu-rezultati-parsniedz-ipo-merkus-uznemums-izverte-obligaciju-emisiju/
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