Eco Baltia's second bond issue listed on the Nasdaq Baltic First North market

Eco Baltia
Company Announcement

Eco Baltia's second bond issue listed on the Nasdaq Baltic First North market

On 25 April, the second bond issued by the parent company of the largest environmental resource management and recycling group in the Baltics, AS Eco Baltia, was listed on the Nasdaq Baltic First North alternative market. As a result, the total value of the bonds listed by Eco Baltia on First North has now reached 18 million euros.

In addition to the EUR 8 million of unsecured Eco Baltia bonds already included in First North's bond list, a further EUR 10 million of unsecured bonds with a nominal value of EUR 1,000 per bond, a fixed annual interest rate of 9% and a coupon payable twice a year have been added. The bonds mature on 2 November 2026.

"We are pleased that the stock exchange can be a successful tool for the development of companies in Latvia, as demonstrated by Eco Baltia's second successful listing on the Baltic First North market. The capital market is open to entrepreneurs to increase the value of their business through alternative financing. We wish Eco Baltia every success in its future growth," said Liene Dubava, Head of Nasdaq Riga.

The inclusion of Eco Baltia's bonds in First North follows a private placement to Latvian, Estonian and Lithuanian investors in November last year. Total demand for the bonds exceeded the offer by more than 1.7 times and attracted more than 100 private and institutional investors.

"We are grateful to our investors for the confidence they have shown in the Group's growth. In recent years, we have been able to implement significant activities to develop Eco Baltia in the international market. We have achieved the Group's expansion not only in the domestic market, but also through acquisitions in Lithuania and the Czech Republic. The funds raised from investors have also helped us to develop the Polish market, where last year we acquired a 70% stake in Metal-Plast, Poland's largest processor of PVC window and door profiles, together with one of our shareholders, INVL Baltic Sea Growth Fund, a private equity fund in the Baltic States. We continue to work on Eco Baltia's strategic development goals to increase our contribution to the development of the circular economy internationally,"says Māris Simanovičs, Chairman of the Board of Eco Baltia.

About Eco Baltia

Eco Baltia group is the largest environmental and waste management group in the Baltics, providing the full-cycle waste management solutions from waste collection and sorting to secondary raw material logistics, wholesale and raw material processing as well as PET and PE/PP plastics recycling.

In 2023, Eco Baltia achieved its highest ever consolidated revenue of EUR 218.5 million (unaudited 2023 financial data), an increase of 4% compared to 2022. The Group's unaudited consolidated EBITDA for 2023 is EUR 27.6 million, an increase of 8.6% compared to the previous year.

The Group has more than 2.500 employees in Latvia, Lithuania, Poland and the Czech Republic. Its leading companies are PET Baltija, Eco Baltia vide, Latvijas Zaļais punkts, Nordic Plast, JUMIS, Sigulda, TESIL Fibres, TESIL Fibres, UAB Ecoservice, based in Lithuania. From November 2023, the Group also owns shares in Metal Plast in Poland, and from April 2024 - shares in AS "Daugavpils specializētais autotransporta uzņēmums" in Latvia.

Shareholders of Eco Baltia are private equity fund INVL Baltic Sea Growth Fund (52.81%), the European Bank for the Reconstruction and Development (30.51%) and Māris Simanovičs (16.68%).

Additional information:
Alise Zvaigzne
Public Relations Project Manager
Eco Baltia
Phone +371 28780467
[email protected]
www.ecobaltia.lv

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