Virši reports 5 million euro profit for 2023

Energy trader and gas station operator Virši closed the year with a consolidated unaudited profit of EUR 5.1 million, it reports.

EBITDA, or the Company’s profitability ratio, reached EUR 13.7 million, the highest in the Company’s history and up 11.7% year- on-year.

“In a challenging geopolitical and economic environment, the company continued to grow last year, implementing major projects in both network expansion and modernisation, as well as sustainability-related projects, together with continuing to increase market share in the fuel, commodity trading and energy segments. The total amount of investments made last year reached EUR 17.5 million, which is a significant contribution to the Company’s successful development in the future,” said Jānis Vība, Chairman of the Management Board and CEO of Virši.

“The electricity trading segment delivered a strong performance, with a gross profit of EUR 2.4vmillion in 2023, almost 6 times the 2022 figure for this business segment,” said Vība.

During the year, Virši opened 3 new service stations in Preiļi, Krāslava and near Olaine. Last year, the Company also carried out major modernisation works at 2 sites in Riga, located in the suburb of Sarkandaugava and also Satekles street in the center, as well as at a facility in Zīlāni.

The company’s strategic goal is to have at least 90 service stations up and running by the end of 2026. The full unaudited financial statements of Virši Group are available on the company’s website.

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