UPB Group Achieves Record Turnover of €257 Million in 2025, Eyes Further Expansion

Riga, Latvia – February 17, 2026 – UPB Group, a leading provider of steel, glass, concrete, and aluminum facade products, announced a consolidated turnover of €257 million for 2025. This represents the highest figure in the Group’s history, driven by consistent growth across all operational segments and a strengthened market position in both Latvia and international markets, according to unaudited financial data.

Strong Performance Across Key Sectors

The growth is particularly notable in the industrial and energy sectors. UPB Nams, the Group’s general construction company, saw a 45% increase in turnover, reaching €71 million in 2025. Key projects contributing to this success include perform on Latvenergo’s Laflora Energy wind park – the largest of its kind in Latvia – and the Baltic Cargo Hub, a specialized aviation cargo handling center. The company is also involved in the construction of a new resin factory for Latvijas Finiera, providing design, construction, and installation of technological equipment.

Expanding Project Portfolio and International Reach

UPB Group is actively engaged in several significant projects, including the construction of the Pulmonary Health and Infectious Diseases Corps of the Eastern Clinical University Hospital and a manufacturing plant for artillery ammunition components in Iecava. Internationally, the company highlighted the “Sture” development project in Stockholm, Sweden, involving the construction of three new buildings integrated with historical structures. The largest facade project in the Oslo region, “Campus Ulleval” in Norway, has been completed, with two facilities in London nearing completion and a new project in Cambridge currently in the design phase.

Investment in Innovation and Sustainability

Following a period of cautious development, UPB Group is initiating a new investment cycle, planning to invest €30 million over the next three years. These investments will focus on advancing production technologies, increasing automation, and strengthening engineering competencies. In 2025, the Group invested €6 million, primarily in expanding the production of reinforced concrete structures in Liepāja and developing sustainable concrete products. New concrete recipes are designed to reduce cement content by up to 70% while maintaining product durability and quality.

Future Outlook

Dainis Bērziņš, Chairman of the UPB Board, emphasized the growing demand for precast concrete facades with decorative finishes in the Baltic states, with projects already underway in Latvia and Lithuania. He also noted a shift towards integrated solutions, combining design, production, and construction, as a key competitive advantage in increasingly complex international projects. The company anticipates continued growth in the industrial sector and expects increased turnover in the future.

About UPB Group

Founded in 1991 and based in Riga, Latvia, UPB Group operates as a provider of steel, glass, concrete, and aluminum facade products. The company has not raised any external funding to date. Source, Tracxn