Key financial indicators
Revenue
GRAFIKS: max: 80, 2021: 55.83, 2022: 65.73, 2023: 76.45, 2024: 76.34, 2025: 80.32
SIA "Rīgas ūdens" reported a 5,22% increase in revenue from core operations for the 12 months of 2025 compared to the 12 months of 2024, reaching EUR 80,32 million.
Operating expenses
GRAFIKS: max: 80, 2021: 39.84, 2022: 50.43, 2023: 58.91, 2024: 56.91, 2025: 53.40
During the 12-month period of 2025, expenses (raw materials and supplies, personnel costs and other operating expenses) decreased by 6,17% compared to the 12-month period of 2024, reaching 53,40 million euros.
EBITDA
GRAFIKS: max: 40, 2021: 21.05, 2022: 20.56, 2023: 23.68, 2024: 25.85, 2025: 30.99
EBITDA (earnings before interest, taxes, depreciation and amortisation) for the 12 months of 2025 increased by 19,88% compared to the 12 months of 2024, reaching EUR 30,99 million.
Profit (loss) for the reporting year
GRAFIKS: max: 20, 2021: 5.52, 2022: 5.16, 2023: 7.53, 2024: 8.39, 2025: 0.59
Profit (loss) for the 12 months of 2025 decreased by 92,97% compared to the 12 months of 2024, amounting to EUR 0,59 million.
*The amount recognized in retained earnings that may be used as a basis for calculating dividends.
Assets
GRAFIKS: max: 800, 2021: 313.83, 2022: 344.83, 2023: 359.83, 2024: 717.25, 2025: 752.15
Total assets for the 12 months of 2025 increased by 4,87% compared to the 12 months of 2024, reaching EUR 752,15 million.
Until now, the company had never conducted a third-party asset valuation. It was only in December 2023 that the regulator authorized this process, similar to that followed by other infrastructure companies. The assets were revalued based on their replacement cost and useful life. As a result of the revaluation, the value of assets increased by EUR 451,30 million, but an additional impairment loss of EUR 82,00 million was recognized, resulting in a significant increase in the value of long-term investments on the balance sheet.
Equity
GRAFIKS: max: 800, 2021: 172.03, 2022: 176.64, 2023: 183.66, 2024: 534.02, 2025: 532.10
Equity for the 12 months of 2025 decreased by 0,36% compared to the 12 months of 2024, amounting to EUR 532,10 million.
Until now, the company had never conducted a third-party asset valuation. It was only in December 2023 that the regulator authorized this process, similar to that followed by other infrastructure companies. The assets were revalued based on their replacement cost and useful life. As a result of the revaluation, the value of assets increased by EUR 451,30 million, but an additional impairment loss of EUR 82,00 million was recognized, resulting in a significant increase in the value of long-term investments on the balance sheet.
Financial reports
Year 2025
- Annual Report 2025
- Annual Report 2025 (presentation)
- for the 12-month period that ended on December 31, 2025, prepared in accordance with to the requirements of international financial reporting standards
- for the 9-month period that ended on September 30, 2025, prepared in accordance with to the requirements of international financial reporting standards
- for the 6-month period that ended on Juny 30, 2025, prepared in accordance with to the requirements of international financial reporting standards
- notes to the unaudited condensed financial statements for the six-month period ended 30 June 2025
- for the 3-month period that ended on March 31, 2025, prepared in accordance with to the requirements of international financial reporting standards
Year 2024
Year 2023
Year 2022
Year 2021
Year 2020
Unaudited summary financial statements
In accordance with Section 58(1)(2) of the Law on Governance of Capital Shares of Public Entity and Management of Capital Companies Thereof, a capital company shall publish an interim report not checked by a certified auditor for three, six, and nine months, as well as an annual report not checked by a certified auditor within two months after the end of the reporting period.
Approval of the annual report
In accordance with Paragraph 29.4 of the Riga City Council Internal Regulation No. 4 of 21.08.2020 "Procedures for the Management of Capital Shares and Capital Companies Owned by the Riga City Municipality", the Management Board shall submit the approved audited annual report to the Shareholder representative of the capital no later than by 15 March for dispatch to the Riga City Council Department of Finance for the purpose of preparation of the annual public report.
In accordance with Section 54 of the Law on Governance of Capital Shares of Public Entity and Management of Capital Companies Thereof, the Management Board of a public entity’s capital company and public private capital company shall ensure that an annual report is prepared (Section 174 of the Commercial Law ) and the meeting of shareholders is convened to approve the annual report of the capital company by 30 April of the respective year (including), but if the capital company, according to the criteria of the Law on the Annual Financial Statements and Consolidated Financial Statements, is a medium-sized or large capital company, or the capital company is the parent capital company of a group of companies which prepares a consolidated annual report - by 31 May of the respective year (including), unless it is otherwise provided for in international agreements.
Budget approval timeline
In accordance with Paragraph 63.1 of the Riga City Council Internal Regulation No. 4 of 21.08.2020 “Procedures for the Management of Capital Shares and Capital Companies Owned by the Riga City Municipality”, Management Board of the capital company shall, no later than by 1 December (or one month before the beginning of the annual reporting period), develop a draft budget for the next year for the implementation of the capital company's medium-term operational strategy.