The first nine months of 2026 confirmed that the planned strategy achieved in the first half of the year is sustainable. The profitability measures rolled out in the second half of 2025 continued to deliver, with the Group more than doubling EBITDA year-on-year and moving to a clear net profit, underpinned by higher revenue, stronger margins and disciplined cost control. The third quarter delivered the Group's highest quarterly revenue and gross profit.
In the first nine months of 2026, Longo Group generated total revenue of EUR 40.1 million, an increase of 16.2% compared to the same period of 2025 (EUR 34.5 million). In the third quarter alone, revenue reached EUR 15.8 million, up 19.3% year-on-year (Q3 2025: EUR 13.2 million). Growth was driven primarily by a higher average value of car sold and continued growth across all supplementary income streams, in line with the Group's focus on monetisation and value-added services. The stabilisation of volumes in Estonia, following the market's adjustment to the motor vehicle taxation framework introduced on 1 January 2025, provided a further contribution.
The Group's gross profit margin for the first nine months of 2026 increased by 2.5 percentage points year-on-year, reaching 19.5% (9M 2025: 17.0%) and resulting in total gross profit of EUR 7.8 million (9M 2025: EUR 5.9 million), an increase of 33.4%. The improvement was driven mainly by focused sourcing on high-demand vehicles and higher income from value-added services, in line with the profitability platform embedded during the second half of 2025.
EBITDA increased to EUR 3.6 million (9M 2025: EUR 1.6 million), reflecting factors mentioned above and continued cost discipline across the Group. The Group recorded a net profit of EUR 1.8 million (9M 2025: loss of EUR (0.3) million), confirming the Group’s return to sustainable profitability.
In September 2026 the Group discontinued the retail operations of its Polish subsidiary and concentrated its resources on the Baltic markets. The closure was completed within the third quarter.
Looking ahead, the Group remains on track with the priorities set out, namely sustainable, profitability-led growth with the Baltics as the primary focus. Key priorities for the final quarter of 2026 include maintaining the gross margin improvement through disciplined sourcing, focusing on high-demand assortment selection, continued enhancement of vehicle preparation workflows and stronger monetization via value-added services.
The Group will maintain tight control over administrative costs and concentrate on profitable growth opportunities. With Polish retail operations discontinued, the Group’s resources are now concentrated on the Baltic markets, which are its core markets and its principal source of profitability. As the Estonian market continues to adjust to the new taxation environment, management expects further stabilization of volumes to support the Group's path of profitable growth.
About AS Longo Group
AS Longo Group is the largest used car retailer in the Baltic region, providing the most extensive selection of vehicles. Established in 2018, Longo employs over 110 professionals and reached a revenue of 44 million euros in 2025. The headquarters are in Latvia, from which AS Longo Group manages nine subsidiaries across Latvia, Lithuania, Estonia, Poland the Netherlands, Belgium, and Germany. Since the inception, Longo mission has been to establish a new standard of quality within the used car retail sector in the Baltic region, ensuring a transparent, reliable, and outstanding car-buying experience for customers, both online and in-person.