The past year has been significant for LPKS LATRAPS in implementing its strategic development plans. The largest agricultural cooperative in the Baltics, owned 100% by Latvian farmers, has continued to strengthen its competitiveness and promote sustainable growth.
According to the audited annual report and the auditors’ statement, the data substantially do not differ from the previously unaudited report, and the results are accurate — the cooperative’s turnover reached EUR 254 million, while profit amounted to EUR 2.7 million.
During the reporting period, LATRAPS exported grain to more than 30 countries, securing a 20% market share. Significant investments were made in the Madona pre-processing complex, and the cooperative reports that further development projects are planned in the existing grain pre-processing complexes in Jaunpagasts, Aizkraukle and Jēkabpils.
Last December, the cooperative successfully issued bonds with an interest rate of 7.5%, which were included in the Nasdaq Baltic First North list. By the end of 2025, LATRAPS has made three coupon payments to bondholders.
“Over the past year, LATRAPS has successfully implemented its strategic development plans, including the completion of its first public bond offering. The loyalty of the cooperative’s members and the strong demand from investors confirm the public’s confidence in the cooperative’s long-term development and the stability of the agricultural sector. As a result of the bond issue, alongside our 1,220 members, more than 300 investors are now involved in LATRAPS’ operations, providing essential support for achieving our growth objectives. This support strengthens the cooperative’s competitiveness and enhances the position of Latvia’s agricultural sector in the global market,” emphasizes LATRAPS Chairman of the Board, Roberts Strīpnieks.
By issuing bonds and attracting the strategic investor Pfeifer & Langen International B.V., the most ambitious project in recent years was launched in December of the reporting period — the construction of a pea protein isolate production facility in Jelgava (SIA ASNS Ingredient).