Apollo Group is known to the general public in Latvia for its catering company Lido, Apollo cinemas, restaurants Vapiano, MySushi and fast food chain KFC.
The purpose of issuing bonds is to strengthen the company’s financial independence and capital structure, as well as to provide financial resources for growth and investments aimed at increasing operational efficiency. This will allow Apollo Group to increase profitability and strengthen its position as a market leader in the Baltics in the entertainment and hospitality sectors.
2024/25 in the financial year, Apollo Group’s consolidated turnover reached 227 million euros, which is 6% or 14 million euros more than in the previous period. The group’s EBITDA (consolidated earnings before interest, taxes, depreciation and amortization) increased by 12%, reaching EUR 40 million.
“Our operations so far have proven their sustainability and efficiency – the network of cinemas, bookstores and restaurants operate profitably. This forms a solid basis for ambitious further growth. Over the next five years, we plan to significantly increase both turnover and the number of locations in all our home markets, expanding the network from 170 to approximately 300 locations,” emphasizes Toomas Tiivel, CEO of Apollo Group.
The planned bond issue is intended to finance this growth. The company has big plans to expand its operations in Latvia, Finland and Lithuania. It is planned to introduce new brands in the Finnish market, supplementing the already existing Vapiano and KFC offer.
Silver Kalmuss, Head of the Bonds Department of LHV Bank, states that both private and institutional investors have been waiting for a long time for the moment when new Baltic market leaders from hitherto unrepresented sectors will enter the capital market. “Apollo Group is one of the strongest brands and largest companies in the Baltics. In the context of capital market development, the Group’s plans to list bonds on the regulated market of Nasdaq Tallinn – the Baltic bond list, thus allowing investors to trade them on the secondary market,” adds S. Kalmus.
Kristiāna Janvare, head of Signet Bank’s Investment Banking department, points out: “We see that this bond offer could potentially be interesting for many Latvian private investors. Apollo Group stands out with an impressive number of loyal customers in the Baltics, and many Latvian investors may be surprised that an Estonian company stands behind such beloved brands as, for example, Lido and Apollo Kino.”
In order to start bond trading on the regulated market of Nasdaq Tallinn – the Baltic bond list, Apollo Group plans to submit an appropriate application. A prerequisite for the public offering of bonds is the approval of the basic prospectus by the Estonian Financial Supervisory Authority. The company will announce the approval of the base prospectus and the start of bond subscription, including the final terms, separately.
Apollo Group, founded in 2000, has grown into the largest entertainment and restaurant industry company in the Baltics and has expanded its operations to the Finnish market as well. The group includes such well-known brands as Apollo bookstores, Apollo Kino cinemas, Blender juice bars, IceCafe ice cream cafes, Vapiano restaurant, KFC fast food chain, as well as Lido, MySushi, CanCan and Delano. The group’s loyalty program Apollo Club has more than a million customers.
At the end of 2025, in preparation for the bond listing on the Nasdaq Baltic First North market bond list, Apollo Group switched to international financial reporting standards (IFRS). It is a widely used and recognized financial reporting standard in Europe that provides comparability and transparency, allowing investors and financial institutions in Europe to consistently assess a company’s financial position.
This notice is for informational purposes only and relates to a possible future offer. It is neither an offer to sell bonds nor an invitation to subscribe for them, nor an investment recommendation. No sale or public offering of the Notes will be commenced in any country or jurisdiction until the relevant prospectus or other required offering document has been duly approved, registered or published in accordance with applicable law.
date:2026-02-12 11:04:00