AS CleanR Grupa bond issue

About the Group

With history dating back to 1944, AS CleanR Grupa (the Group) has grown into one of the Latvia’s leading waste management and environmental services provider.

The waste management business covers municipal, commercial, industrial, medical, and hazardous waste, providing a full-cycle service – from collecting and sorting the waste to recycling.

The environmental services business includes indoor cleaning with innovative solutions (e.g. self-cleaning robots), and public space and road maintenance for municipalities across Latvia.

The Group employs 1 800+ people and services 61 000+ customers. More than 500 000 residents of Latvia have been served regularly by the Group.

The Group’s majority shareholder (86%) is Guntars Kokorevičs, who acquired the operations in 2014 and rebranded as CleanR.

Since the first bond issue in 2022, the Group has almost doubled its revenue from EUR 68.4m to EUR 121.m in 2024, driven both by organic growth in existing segments and successful M&A transactions.

Despite the strong growth, the Group has maintained a robust financial position – equity ratio of 53.5% and leverage of 0.08x as of 30 June 2025 – as its shareholders have reinvested most of the profits.

Additional information:

https://cleanrgrupa.lv/

https://signetbank.com/wp-content/uploads/2025/10/CleanR-Grupa-Teaser-EN.pdf

Presentation

Indicative Term Sheet