APF Holdings
Announcement from First North

APF Holdings Invests €3.499 Million in Alūksne Poultry Farm's Share Capital for Future Development

APF Holdings (hereinafter referred to as APF) has increased the share capital of its subsidiary, SIA Alūksnes putnu ferma, from €3 million to €6.499 million to strengthen the company's financial position for future growth. SIA Alūksnes putnu ferma is one of the largest egg production companies in the Baltic States. Following APF's initial public offering (IPO) late last year, the company is now implementing an ambitious growth program.

"Increasing the share capital gives us the opportunity to grow because a larger capital base means more opportunities to attract development funding. During the APF IPO, we shared our growth plans, which are based on our goal to capitalize on Latvia's egg production export potential, particularly in the cage-free egg segment, where many European countries are experiencing significant shortages. To achieve this, we need to expand production capacity, and increasing equity is part of this process," says Jurijs Adamovičs, Chairman of the Board of APF Holdings.

 According to the strategy, this year APF has begun constructing two new poultry housing facilities. The total area of the new facilities will be approximately 4,700 m², increasing APF's egg production volume by 73 million eggs annually, reaching a total of 180 million eggs per year. These laying hen facilities will be among the most modern in Europe, enabling APF to offer cage-free eggs to both the Baltic and export markets. Additionally,in year 2024 APF has already commissioned a new egg product production and warehouse complex in Alūksne. In January, egg processing will commence in the new production facilities, covering various product lines such as liquid egg mass and egg white, yolk, and mélange products for business clients (food manufacturers, restaurants, hotels, etc.).

Furthermore, APF has recently launched a new product line of egg-based sports and health nutrition products under the brand name Fiteg2. Alongside this, APF has established a dedicated online store for this product group – Fiteg2.com – thus entering a new and promising product niche in both Latvian and export markets.

About APF Holdings:

APF Holdings (NASDAQ: EGG) is a dynamic group of companies engaged in poultry farming, chicken egg production and trading, as well as gas and organic fertilizer production related to poultry farming processes. Our portfolio includes SIA Alūksnes putnu ferma (poultry farming and egg production), SIA APF Trading (wholesale trade in chicken eggs), SIA Oluksne (providing poultry farming and egg production services), SIA APF Energy (gas and organic fertilizer production), and SIA Preiļu putni (poultry farming and young chicken rearing). Founded in 2017, APF Holdings has become a leading player in the Baltic region's poultry and egg industry

         For further information, please contact:
         Jana Garanča
         Marketing and Digital Projects Manager
         APF Holdings
         M: +371 26408922
         E: jana.garanca@apfholdings.lv
         
         Certified Adviser:
         Signet Bank AS
         Contact Person: Kristiāna Janvare
         T: +371 67 081 128
         E: Kristiana.Janvare@signetbank.com