VIRŠI-A
Company Announcement

Summary of AS VIRŠI-A operational activity and other developments for 9 months period of 2022

In the 9 months of 2022, the seller of fuel and alternative energy resources “Virši” (AS VIRŠI-A and related Group companies) significantly grew their turnover, demonstrating a year on year increase of 67.3%.

Turnover in the convenience stores during the respective period increased by 18.2% or EUR 4.6 million. Turnover in the fuel segment increased by 68.3% or EUR 92.2 million and is due to increased fuel prices as well as a greater amount of fuel sold, compared with the same period in 2021. The energy segment created by the Company more than a year ago sold electricity to clients in the amount of EUR 11.7 million in the 9 months of 2022.

The end of this year's nine month period was marked by several important events for "Virši":

• A new fuel filling station was opened in Daugavpils, where more than EUR 2 million was invested and provides drivers with a full range of services, including fuelling with compressed natural gas (CNG). The decision on the construction of a new station and availability of CNG in Daugavpils region was made after winning the procurement announced by AS Daugavpils satiksme on the provision of CNG to fuel the company’s buses. Supporting the transition to a new and greener city transport, Virši will ensure all the necessary facilities for a more convenient refuelling of buses.
• In September 2022, a contract was signed between Virši and the European Climate, Infrastructure and Environment Executive Agency which became the first AFIF support contract in the European Union. Pursuant to the contract, over the next two years, 28 electric charging points will be installed in 20 fuel stations of Virši with at least 150 kW charging power. Moreover, 8 out of the 20 stations will provide at least 870 A charging for the distribution system operator. It is planned to complete the project* by the 2nd quarter of 2024.
• In Q3, the certificates of Virši (ISO 50001 and ISO 14001) were supplemented by another international ISO certificate: ISO 9001 that confirms the commitment of Virši to provide the highest quality management principles. The certificate confirms that the management and employees are satisfied with the processes in the Company and clients receive proper products and services. 

*The project is co-funded by the European Union. The author is responsible for the opinions and points of view expressed in the press release and it does not necessarily reflect the opinions of the European Union nor Alternative Fuels Infrastructure Facility (AFIF). Neither the European Union nor the authority that has provided the co-funding is responsible for the opinions expressed in the news release.

The shares of AS VIRŠI-A are admitted to trading on Nasdaq Baltic First North Market.

The certified adviser for AS VIRŠI-A is AS LHV Pank.

AS VIRŠI-A is the largest and the most rapidly growing local business engaged in the sale of fuel and alternative energy resources with 27 years’ experience in the Latvian fuel market. Since 2021, AS VIRŠI-A offers electricity to the corporate segment. Further, the company sells electricity produced in Latvia.

Currently, there are 69 service stations in the network of AS VIRŠI-A that employ over 690 employees across all Latvian regions. On 11 November 2021 AS VIRŠI-A shares were admitted to trading on the alternative market First North of Nasdaq Riga stock exchange.

         Contact details:
         AS VIRŠI-A
         Undīne Priekule
         E-mail: undine.priekule@virsi.lv
         Telephone: +371 26141219
         
         Certified Adviser:
         AS LHV Pank
         Contact person: Ivars Bergmanis
         E-mail: ivars.bergmanis@lhv.ee
         Telephone: +372 680 2720