Investors
FINANCIALS
LIONPRO closed the financial year 2025 with a net profit of EUR 868,423, compared to EUR 2,755,023 in 2024. The decrease in net income is primarily attributable to significant foreign currency exchange losses resulting from USD depreciation in 2025 (EUR – 1.61 million), compared to a positive currency impact of EUR 1.06 million recorded in 2024. Excluding currency effects, the Group demonstrated continued operational strengthening.
Net turnover increased by 10.6%, reaching EUR 59.5 million in 2025 (2024: EUR 53.8 million). While revenue growth was moderate, total sales volumes increased by 35.8% year – on – year, indicating improved market penetration and expansion into new territories. The gross profit increased to EUR 8.6 million (2024: EUR 7.4 million), and the gross profit margin improved from 13.7% to 14.4%, reflecting enhanced pricing discipline and portfolio optimisation.
EBITDA increased to EUR 3.58 million (2024: EUR 2.69 million), with EBITDA margin improving to 6.0% (2024: 5.69%). However, EBIT declined to EUR 1.84 million (2024: EUR 3.29 million), primarily due to currency losses and higher administrative and financing costs associated with strategic expansion.
In 2025, LIONPRO completed a private bond placement, raising EUR 6.75 million to strengthen working capital and support scaling of operations. As of year – end, total assets increased to EUR 29.2 million (2024: EUR 17.3 million), driven mainly by higher inventories and receivables linked to increased trading volumes. Net debt leverage stood at 3.64x EBITDA, while the equity ratio reached 25.7%, remaining in compliance with financial covenants.
L.J.Linen Ltd, LIONPRO’s daughter company, will list its issued corporate bonds on NASDAQ First North list during Q2, 2026.
Operationally, LIONPRO achieved record sales volumes of 148,000 metric tons in 2025 and continued investment in regional supply infrastructure. Additionally, the MIGA guarantee secured for the USD 9 million investment project in Kenya significantly reduces political and financial risk exposure for the LIONPRO expansion strategy in East Africa.
In summary, 2025 was a year of structural growth and balance sheet expansion. While net profitability was impacted by external currency factors and increased financing costs, underlying operating performance, margin development, and capital structure remain aligned with the LIONPRO long – term growth objectives.
FS.02 Lionpro Conso ENG Lionpro Group consolidated auditors report 2025 LIONPRO Group 2026 Q1 Results LINEN Annual report 2025 LIONPRO Group Operative report 12M 2025 LIONPRO Group: Operative report 9M 2025 LIONRPO Group Operative report 6M 2025 LINEN Annual report 2024 JAZE Capital Holdings Consolidated report 2024 LIONPRO Group 9M 2023 operating financials LIONPRO Group H1 2023 operating financials LIONPRO Group Q1 2023_operating financials LIONPRO Group audited annual review_2022 LIONPRO Group operating financials_2022 LIONPRO Group audited annual review_2021
BONDS
ANNOUNCEMENTS
LIONPRO Group PLANS NEW BOND ISSUE
Latvian company LIONPRO Group (SIA “L.J.Linen”) is planning to return to the capital markets with a new bond program aimed at supporting the company’s dynamically growing long-term development and financial strategy.
The bond issue will be carried out as a private placement, and the bonds are intended to be listed on the Nasdaq First North market. LIONPRO Group has signed an agreement with Latvia’s leading investment bank, Signet Bank, as the arranger of the issue.
The new bond program is a logical continuation of the company’s first international bond issue carried out in 2022, which attracted strong investor interest and was repaid ahead of maturity. This experience has served as a valuable foundation for building trust with investors and clearly demonstrates the company’s financial discipline, stability, and responsible approach to its obligations. The funds raised through the bond issue will be used to increase the company’s working capital, allowing for significant turnover growth in existing markets. The foundation of this growth lies in a scalable, modernized, and financially disciplined operation.
“Our first bond issue proved that the private capital market in Latvia is attractive and open to companies with a clear vision and thoughtful strategy. Bonds are an important development tool for us, providing not only funding but also imposing discipline and increasing transparency in the eyes of investors. We are choosing this path as a key part of our growth strategy. At the same time, we are also working on implementing SAP – the world’s most reliable financial accounting tool – to strengthen our internal management and ensure even greater transparency. We see significant potential in new markets where demand for our delivered goods exceeds our ability to respond quickly with traditional financing instruments. With this issuance, we significantly strengthen our market position and take the next step toward broader presence in South America, Asia, and Africa,” explains LIONPRO Group CEO Jānis Kuļikovskis.
LIONPRO Group is a compelling example of a local company that is goal-oriented and financially disciplined, using the advantages of the capital markets to implement ambitious global development plans. The added value of the capital markets is not just in the funding received – it helps improve the quality of corporate governance, enhances company visibility, and strengthens long-term credibility. These factors are crucial for ensuring competitiveness in the global market. At Signet Bank, we are proud to be partners with local companies that leverage capital markets for sustainable growth and reinforce Latvia’s business presence worldwide,” says Roberts Idelsons, Chairman of the Management Board at Signet Bank.
LIONPRO Group continues its expansion beyond Europe and in 2025 is focusing on developing its operations in Asia, South America, and South Africa. The company plans to establish new distribution structures in these regions to reduce delivery times and be closer to customers in areas with underdeveloped logistics infrastructure. At the same time, LIONPRO Group aims to further strengthen its “one-stop shop” concept, offering both large and smaller clients access to a wide range of raw materials at stable and competitive prices, regardless of global market fluctuations.
The company is one of the five largest exporters of animal-origin raw materials in the European Union. LIONPRO Group closed 2024 with record-high operational results, demonstrating significant growth and strengthening its position in the global market.
The company’s net turnover increased by EUR 11.6 million, reaching EUR 46.94 million, while net profit amounted to EUR 2.42 million – a substantial increase compared to 2023.