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Published: 2023-10-20 16:00:00 CEST
Interim information

Summary of AS VIRŠI-A operational activity and other developments for the 3rd quarter of 2023

Energy commodities trader and convenience store network Virši (AS VIRŠI-A and related group companies) continued its stable development in the 3rd quarter of 2023, ending the 3rd quarter with turnover of 258.6 million euros.

Turnover in the convenience stores during the respective period increased by 20.9% or EUR 6.3 million. Turnover in the fuel segment decreased by 9.8% or EUR 22.4 million and is due to lower fuel prices compared to the same period in 2022. The energy segment established in 2021 sold electricity to clients in the amount of EUR 15.2 million in the 3rd quarter of 2023.

Q3 period was marked by several important events for Virši:

  • In the 3rd quarter expanding and diversifying the solutions available to Latvian inhabitants for purchasing electricity, Virši introduced its electricity offer for households. It is based on competitive prices and special offers for the purchase of fuel and goods in the Virši network. Customers can choose from the usual fixed-price or dynamic product agreements for households, as well as one of the packages offered by Virši – combining electricity with better prices on fuel and in-store offers.
  • The first Virši store of the new concept was opened in the centreof Riga. The first Virši store operates outside the usual service station format, has opened its doors for visitors at Tērbatas Street 22/24. The new convenience store offers a very well-thought-out assortment of food and beverages.
  • In order to improve the customer experience at the service station, Virši offers its customers a mobile app that will help drivers save time and pay for fuel directly at the pump at any service station throughout the network. The new app includes all the benefits of business, personal and shareholder loyalty programmes, as well as special offers for app users.
  • Virši opened its electric car charging network and marked the further development of this service. Significantly expanding the possibilities of electric charging and thus promoting the availability of this sustainable form of energy for transport, it was announced that by the middle of next year, electric charging will be available at more than 20 Virši service stations, and at nine more service stations the CSDD e-mobi network will continue to provide the charging service.
  • Virši continued to modernize and expand its service station network. In mid-September, a newly-built store was opened next to the existing Virši automatic service station at Satekles Street 2 in Riga, while on 22 September, the service station in Zīlāni, Zīlānu Street 145, reopened in modernised and spacious premises. At the end of October, the Sarkandaugava service station will open after renovation and modernisation. Two new Virši service stations are also currently under construction, which will be located near Olaine and in Riga, on Viskaļu Street.
  • By continuing to invest in renewable energy and promoting its use in its operations, Virši is significantly expanding its cooperation with Latvian producers by providing renewable electricity at all Virši service stations. The Company’s portfolio includes 65 local producers using the sun, water, biomass and biogas to generate electricity
  • Virši introduced the first robot barista in the Baltic states – a specialized robot arm delights visitors of the Riga shopping centre Spice every day with freshly roasted Virši coffee and more than 20 other drinks, quickly and accurately completing the order in front of the customer and bystanders. The total investment in the project amounted to EUR 150,000.


  Consolidated, unaudited data for Q3 2023 Consolidated, unaudited data for Q3 2022 Change, % Change
Turnover in convenience stores (‘000 EUR)   36 433    30 141  20.9% 6 292
Turnover in fuel segment (‘000 EUR) 204 920 227 304   -9.8%   -22 384
Turnover in energy segment (‘000 EUR)   15 176   11 766  29.0% 3 410
Other (`000 EUR)     2 024     1 107  82.9% 918
Total (`000 EUR) 258 554 270 317   -4.4% -11 763


The shares of AS VIRŠI-A are admitted to trading on Nasdaq Baltic First North Market.
The certified adviser for AS VIRŠI-A is Law Office Eversheds Sutherland Bitāns. 

Virši is a rapidly growing energy commodities trader and convenience store network with 28 years of experience. Currently there are 74 locations in the Virši network, of which 72 are service stations, and these employ over 760 employees across all of Latvia. Since 11 November 2021, the shares of AS VIRŠI-A have been admitted to trading on the Nasdaq Riga Alternative Market First North.

         Contact details:
         AS VIRŠI-A
         Undīne Priekule
         E-mail: undine.priekule@virsi.lv
         Telephone: +371 26141219
         Certified adviser:
         ZAB Eversheds Sutherland Bitāns SIA
         Justīne Ignatavičute
         E-mail: justine.ignatavicute@eversheds-sutherland.lv
         Telephone: +371 28665066