At its online webinar on 22 September, “Rīgas ūdens” SIA informed potential investors about its next bond issuance of up to EUR 40 million, planned for the fourth quarter of 2026. The company’s first issuance of bonds under the European Green Bond (EuGB) Standard took place on 4 June 2025, with an issue size of EUR 20 million.

In 2025, “Rīgas ūdens” SIA became the first municipal company in Latvia to raise financing in the capital market and the first company in Northern Europe to issue bonds in accordance with the European Green Bond (EuGB) Standard. The total size of the company’s bond programme is EUR 60 million.

The proceeds from the next bond issuance are intended to finance projects fully aligned with the European Union (EU) Taxonomy in four categories:

• renewal of sewerage networks;
• completion of the expansion of the anaerobic digester facilities;
• implementation of energy efficiency projects;
• modernisation of the IT monitoring system.

On 14 May 2026, Latvijas Banka approved the new base prospectus for the bond offering, which has also been published on Nasdaq Riga.

The bond issuance will support the successful implementation of the company’s EUR 235 million investment programme for the development of wastewater treatment and drinking water infrastructure. The objective of SIA “Rīgas ūdens” 2025–2028 investment programme is to improve the reliability and quality of the water and wastewater services provided by the company and to reduce water losses.

Agnese Ozolkāja, Member of the Management Board of “Rīgas ūdens” SIA, said: “We view the capital market as an important source of long-term financing. The bond issuance of up to EUR 40 million planned for the fourth quarter of 2026 will enable us to continue the investment programme already underway and implement projects that are essential both to the company’s efficiency and sustainability and to the provision of high-quality water and wastewater services. Our objective is to maintain a balance between financially responsible growth and the necessary investment in infrastructure that will underpin Riga’s water and wastewater services over the long term.”

The company’s unaudited financial results for the first half of 2026 were also presented during the webinar.

SIA “Rīgas ūdens” revenue from core operations reached EUR 45.4 million in the first six months of 2026, an increase of 14.7% compared with the corresponding period of the previous year. EBITDA increased to EUR 19.7 million, while investments reached EUR 24.1 million, the highest first-half level in the past five years. The company’s net profit for the first half of 2026 amounted to EUR 4.3 million, while the equity ratio stood at 71.0% at the end of the reporting period, providing a solid foundation for the continued implementation of the company’s extensive investment programme.

During the first half of 2026, “Rīgas ūdens” SIA continued the implementation of several major infrastructure projects. Solar power plants at the Daugavgrīva Biological Wastewater Treatment Plant and the Daugava Water Treatment Plant were commissioned, construction of two new anaerobic digesters commenced at the Daugavgrīva Biological Wastewater Treatment Plant, and a total of 8.0 kilometres of water supply and sewerage networks were renewed during the first six months of the year.

About Rīgas ūdens SIA:

 SIA “Rīgas ūdens” is the largest water utility company in Latvia, providing water abstraction, treatment, and supply, as well as wastewater collection and treatment services in Riga and the surrounding area. The company’s priorities are delivering high-quality services, developing infrastructure, and ensuring sustainable use of resources. Rīgas ūdens SIA is the first municipal company in Latvia to secure financing through the capital market and the first company in Northern Europe to issue bonds in accordance with the European Green Bond (EuGB) Standard.

Sandijs Māliņš

Head of Finance department

Phone: +371 29187817

Email: investoriem@rigasudens.lv