CleanR Grupa increases turnover in the first nine months and expands regionally in urban services segment

30 Nov 2023

CleanR Grupa has recorded turnover of EUR 70.7 million in the first nine months of this year and EBITDA of EUR 14 million—an increase of 41% and 61%, compared to the same period in 2022, informs Juris Gulbis, Group Chairman of the Board.

The gross profit margin in the first three quarters of 2023 grew by 5 percentage points, compared to the same period in 2022, 19.6% and 14.6%, respectively. The Group has also retained a strong equity position at 55%. The largest share of the revenues was derived from the waste management business.

“The first three quarters of this year have been dynamic for CleanR Grupa in several aspects. First, we have expanded our urban services business. Since summer, Vizii Urban, a group subsidiary company, has been providing urban maintenance services in the towns of Sigulda and Bauska. Also, this summer, the company took care of the Latvian beaches at the length of 30 km in Jūrmala, Liepāja, and Vakarbuļļi, removing a total of over 400 tons of trash. Second, we invested in modern waste sorting infrastructure—we continued developing the underground container network in the capital and, for the first time, built out two underground container sites in Jūrmala. In addition, we tested a waste collection solution on the beaches of Dubulti and Majori that is widely used around Europe—semi-hidden containers,” tells Gulbis.

Gulbis added that, by the end of the year, the company aims to set up a total of 34 underground container sites in Riga.

Third, CleanR Grupa continued investing in activities promoting climate neutrality thus reducing its impact on the environment. By acquiring 20 new electric vehicles, the share of electric passenger cars across the Group’s companies has gone up to 42%. It significantly exceeds the overall figure for Latvia, where only 0.5% of the cars are powered by electricity.

“CleanR Grupa’s ambition is to lead the way in Latvia with respect to the circular economy.  In our opinion, it implies not only the development of infrastructure but also collaboration with the local community.   We seek to do it by devising tools that make waste sorting easy for the residents and by raising awareness of waste as a resource.  That is one of the keystones of the circular economy,” emphasizes Gulbis.

Two of the Group’s subsidiaries—CleanR and Zaļā josta—carried out a highly successful campaign called Tīrmāja (Clean House) promoting waste separation in Riga, the Ropaži municipality, Ķekava, and Jūrmala, particularly focusing on the collection of textiles and electronics. During the campaign, 112 tons of electronics and 9 tons of textiles were collected.

In August this summer, the aforementioned group subsidiaries took part in the Riga City Festival by offering the city’s residents and guests informative and educational activities on zero-waste mindset, waste sorting, and responsible attitude toward the environment in several of the city’s neighborhoods.

“We were also looking for alternative ways to achieve climate neutrality and circular economy. With the support of CleanR Grupa and CleanR, new, unique ideas for waste sorting were generated by the pupils at the Leadership School of Junior Achievement Latvia coming from 15 schools around the country and students at the Latvian University of Life Sciences and Technologies at a Green-tech hackathon,” told Gulbis.

To the same end, the Group became a backer of Backdoor Market—a sustainable streetwear community, movement, and brand creating clothes and accessories. Backdoor Market focuses on zero-waste and upcycling methods to reduce fashion waste and overproduction. The brand focuses on high-quality materials and their effective use, recycling by-products generated during production.

CleanR Grupa will continue investing in modern and automated waste sorting technology and sites, as well as in acquisition of vehicles and improvement of infrastructure, which allows it to run sustainable operations and ensures positive financial results in the future.

About CleanR Grupa

CleanR Grupa operates the leading companies in the environmental services sector in Latvia. CleanR Grupa includes SIA CleanR, a municipal waste management company, SIA CleanR Verso, an industrial waste management company, SIA Zaļā josta, an extended producer responsibility system provider, and environmental services companies: SIA Vizii, a cleaning company, SIA Vizii Urban, an urban services business, and SIA Vizii Domus, a property management brand.

CleanR Grupa serves half a million Latvian people daily. The Group offers highly digitized environmental services, provides high-quality customer care, and demonstrates leadership in the pursuit of suitability and climate neutrality goals.

For further information, contact:

Zane Plone, Head of Public Relations at CleanR Grupa

E-mail: [email protected], Mobile:+371 28 627 003