Sazinies ar mums


For Investors




Nominal value of the issue

4 500 000

Annual coupon rate



May 31, 2026

Financial Calendar

May 2024

Financial statements Q1 2024

August 2024

Financial statements Q2 2024

November 2024

Financial statements Q3 2024

February 2025

Financial statements Q4 2024

April 2025

Audited annual report 2024

May 2025

Financial statements Q1 2025

August 2025

Financial statements Q2 2025

November 2025

Financial statements Q3 2025

February 2026

Financial statements Q4 2025

April 2026

Audited annual report 2025

May 2026

Financial statements Q1 2026

Contacts for Investors

For all question regarding investor relations, please contact:



Changes in the Council of SIA Arsenal Industrial

SIA Arsenal Industrial informs that as of June 7, 2024, the following changes in the composition of the Council become effective:

  • Kaspars Zuicens resigned as a Deputy chairperson of the Council;
  • Eva Miķelsone was appointed as a Deputy chairperson of the Council.

For more information:
Gints Vanags
Mobile phone.: 26303848


Bonds of local company Arsenal Industrial listed on the alternative stock market First North

The decision of the Nasdaq Riga Management Board to list the bonds of construction equipment and tool rental company LLC Arsenal Industrial on the Nasdaq Riga alternative market First North has been announced today.

A total of 4,500 Arsenal Industrial bonds, carrying a face value of EUR 1,000 apiece and a coupon of 12% per year, have been added to the First North Bond List. The maturity date of the bonds is May 31, 2026.

A successful listing of the Arsenal Industrial bonds on the stock exchange not only lays a solid foundation for the company’s long-term development, but also marks the beginning of a new phase of strong growth for the company. According to the Group’s CEO Gints Vanags, the listing will provide the company with more development opportunities, strengthen its competitiveness and enable it to deliver higher and sustainable returns to shareholders and investors.

“We are glad to join Nasdaq Riga. We are witnessing a significant milestone in the development of Arsenal Industrial – after 10 years of work, 4.5 million worth of Arsenal Industrial bonds have been listed on First North. Over these years, we have successfully established a good reputation in the Latvian construction industry, putting into practice our mission statement “We have tried to be the fastest service provider offering not only construction equipment rental services but also equipment for sale”, which sets us apart from all other competitors operating in just one service segment. In 2023, we provided services to 3,500 active customers, most of them B2B construction companies. These companies signed more than 20,000 lease contracts with us last year,” says Vanags.

In the fourth quarter of 2023, the company achieved the highest turnover yet. The increase was 48% compared to the fourth quarter of 2022. This achievement is attributable to the Group’s employees, who were able to serve customers and offer them services at a competitive value for money ratio. In 2023, the Group made additional investments in the Group’s sales and after-sales divisions, which led to an increase in sales already in the fourth quarter of 2023.

Arsenal Industrial is a construction equipment rental and trading company registered in 2014. The Group currently operates in all three Baltic States. The Group aims to provide high-quality products and services and to be an efficient enterprise that listens to its customers’ needs and delivers on them. To be a stable business partner, providing high quality customer service, building partnerships with businesses and continuing to invest in the Group’s infrastructure.

For more information:
Gints Vanags
Mobile phone.: 26303848


SIA “Arsenal Industrial” interim report for the 1st quarter of 2024

In the reporting period from 1 January 2024 to 31 March 2024, the Group’s net turnover was EUR 2 564 694. Compared to the corresponding period in 2023, it has increased by 29 %. The largest impact was from increase in the sales of goods (+95%), which was facilitated by high demand for the Group’s products and good cooperation conditions with suppliers.

«Similarly to previous years, the first quarter of 2024 was completed with losses EUR 371 228. Beginning of the year (winter) is a low season in rental business and it is common to have low profit or losses in this period. These losses will be recovered during the high season (summer). Most of our excavators are out in rental and we are looking for options how to increase our rental fleet to meet customer demand. » says Gints Vanags, CEO of the Group.

In the first quarter of 2024, the Group asked an independent valuator to perform a valuation of the Groups fixed assets. The valuation report showed that the market value of fixed assets is higher by EUR 1 186 763 than the book value in accounting. Based on this report, the fixed assets book value in accounting was increased by that difference on the Assets side of the Balance sheet and reserves of revaluated assets was increased on the EQUITY side of the Balance sheet. The Equity adjustment improved the financial covenant Capitalization ratio, which was not fulfilled in the fourth quarter of 2023 and if tested again, the Capitalization ratio would be 23%, which is higher by 8% than it was required in the fourth quarter of 2023.

The main activity of the Group, the Parent Company of which is SIA Arsenal Industrial (hereinafter- the Parent Company, together with daughter companies – “the Group”), is rent and sale of construction equipment and hand tools with complementary activities of transportation and technical services.

Currently, the Group works in all three Baltic countries. The Group’s goal is to provide products and services in high quality and to be an effective company that listens to the wishes of customers and implements them. To be a stable cooperation partner providing high quality customer service, establishing partnerships with entrepreneurs and continuing to invest in the Group’s infrastructure.

Gatis Meļņiks
SIA Arsenal Industrial, CFO
Mobile: + 371 26442812

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