CleanR Grupa raises share capital and strengthens strategic growth

CleanR Grupa announces a significant increase in share capital from EUR 346,000 to EUR 13,580,000. This change reflects the Group’s strategic growth plans, which include both expansion of regional operations and development of new business lines.

 The Group’s turnover for the first nine months of 2024 amounted to EUR 86.3 million, an increase of 22% or EUR 15.7 million compared to the same period of 2023.

“The Group’s current corporate governance model was introduced as part of the restructuring process, when the Group’s companies were split up according to their business lines. This has enabled expansion of powers and responsibilities of the management boards of the companies, as well as improvement of processes, procedures and risk assessment. A clear separation of operational and strategic management has greatly contributed to the Group’s growth,” says Juris Gulbis, Chairman of the Group’s Management Board.

In 2024, the Group’s subsidiary SIA CleanR acquired SIA Lautus. This expanded the Group’s scope of operations in medical and hazardous waste management segment. In addition, as part of the restructuring process, CleanR Grupa formed two new companies in 2024, SIA CleanR Industry and SIA CleanR NĪ, which specialize, respectively, in waste recycling and real estate management.

Vizii Urban, the Group’s urban services company, was awarded a contract to maintain Riga transport infrastructure in Northern District and Vidzeme suburb. CleanR Grupa continued strategic investments in sustainability solutions, including in construction of underground container infrastructure.

“The results attest to the effectiveness of our strategy. We will continue to focus on sustainable innovation and regional growth, while maintaining high efficiency performance,” says Juris Gulbis, Chairman of the Group’s Management Board.

This year, CleanR Grupa has received several prestigious awards – Sustainable Governance Award from the Bank of Latvia, the Ministry of Justice and the Corporate Governance Advisory Council, as well as the Green Excellence Award from the State Environmental Service of the Republic of Latvia for the creation of an efficient and environmentally compliant waste management system.

CleanR Grupa bonds are listed on Nasdaq Baltic stock exchange, demonstrating stable investor confidence and positive financial dynamics.

 “We have proven that a strategic approach and effective corporate governance are the foundation for sustainable growth. By increasing our share capital, we are strengthening our position and creating a solid foundation for future development plans,” says Juris Gulbis, Chairman of the Management Board of CleanR Grupa.