CleanR Grupa starts 2026 with strong first-quarter results

The consolidated turnover of CleanR Grupa, the leading environmental services group in Latvia, reached 36.8 million euros in the first quarter of 2026, up 3.2 million euros, or 10%, from the corresponding period of the previous year, maintaining the Group’s stable growth dynamics.

CleanR Grupa’s EBITDA indicator increased by 0.9 million euros in the reporting period and reached 8.1 million euros, compared to 7.3 million euros a year earlier, while the gross profit margin reached 21.6%.

“The results of the first quarter confirm that targeted investments in technologies, infrastructure, and service development strengthen the overall growth indicators. It must be admitted that during this period, the Group’s companies also experienced a certain negative impact from fuel price fluctuations driven by geopolitical turbulence. At the same time, our priority is not only financial results – we continue to build a more modern and efficient environmental services ecosystem that provides benefits to both customers and the cities in which we operate, as well as promotes the development of the circular economy in Latvia,” says Juris Gulbis, Chairman of the Management Board of AS CleanR Grupa.

In the first quarter of 2026, the Group continued to invest in the acquisition of specialized equipment, modernization of production lines, and improvement of efficiency. At the same time, investments continued in the development of waste container infrastructure, modernizing above-ground containers and building underground container areas. The reporting period was characterized by significant steps in business development, attracting investments and modernizing technologies, with particular attention to the digitalization of customer experience and service efficiency.

“The most significant event during the reporting period was the Group’s entry into the Nasdaq Baltic regulated market with a 15-million-euro bond issue. Approximately 60% of the previous investors chose to continue cooperation after the bond refinancing, which demonstrates their trust in the Group’s development direction and investment strategy,” emphasizes Juris Gulbis.

Continuing to expand its operations, the waste management company CleanR, after receiving permission from the Competition Council in March, concluded the acquisition of SIA Ķilupe, becoming its sole owner. At the same time, the Group’s regional household waste management company, Vides pakalpojumu grupa, operating in the Dienvidkurzeme region, started work in two new territories during the reporting period – Nīca parish and part of the Saldus region.

CleanR continued to invest in the digitalization of customer service, and the collected data shows that digital solutions are being used increasingly actively by residents – two-thirds of customers in the territories served by CleanR use the self-service portal www.manai.videi.lv and the mobile application. Greater resident involvement in service management also contributes to better sorting habits – in the territories served by CleanR in Riga, the proportion of unsorted household waste is 59%, compared to an average of 62% across the city.

“Earlier this year, seeing the impact of the particularly cold winter on household budgets and increasing utility costs, we made a decision not to apply late payment interest to CleanR customers for late payments and not to discontinue the provision of waste management services to customers. Environmental services are a daily necessity; therefore, it is important to find a balance between the company’s responsibility and support for customers in situations when the financial burden increases significantly,” says Juris Gulbis.

During the reporting period, the Group’s companies continued to develop sustainability, digitalization, and circular economy initiatives. At the end of March, the producer responsibility system company Zaļā josta and the global e-commerce platform Temu announced a partnership that ensures compliance with the Latvian producer responsibility system's regulatory requirements among the platform’s merchants and strengthens local waste collection and recycling systems.

Meanwhile, the urban environment maintenance company Vizii Urban and its subsidiaries, KOM-Auto and Tranzīts L, continued their work in the managed territories while introducing new technological solutions, including automated route planning. The premises cleaning company Vizii also continued to develop data-driven, digitized cleaning solutions, integrating technologies and professional teams into a unified management model.

At the same time, in January, the second Latvian Circular Economy Index was launched – a tool for systematic assessment of circularity in municipalities initiated by CleanR Grupa and developed by Latvian scientists. In February, the Group's participation in the “Liepāja 2027” program was also publicly announced, making it the main partner of the European Capital of Culture for environmental education and sustainability.

The full report of AS CleanR Grupa for the first three months of 2026 can be found here: https://cleanrgrupa.lv/wp-content/uploads/2026/05/CRG_3men_parskats_2026_ENG_27.05.pdf. 

 

About CleanR Grupa:

AS CleanR Grupa operates the leading companies in Latvia’s environmental services sector. The Group includes municipal waste management companies CleanR, Ķilupe, and Vides pakalpojumu grupa, the industrial, construction, and demolition waste management company CleanR Verso, the hazardous and medical waste management company Lautus, the waste recycling company CleanR Industry, the producer responsibility system company Zaļā josta, the commercial premises cleaning company Vizii, the urban environment service company Vizii Urban, and the regional environment service companies KOM-Auto and Tranzīts L.

 

The Group’s companies serve more than half a million Latvian residents daily. The company is characterized by the highest level of digitalization in the environmental services sector, high customer service standards, and leadership in implementing the core principles of sustainability and the circular economy. AS CleanR Grupa is a 100% Latvian capital company, with Guntars Kokorevičs as its Founder and Chairman of the Supervisory Board.