AS Kalve Coffee(the 'Company')continues its strong revenue growth, reaching unaudited revenue of EUR 966 thousand in the first quarter of 2025 (Q1 2025). This represents a significant 46% revenue increase compared to the same period in the previous year (Q1 2024).
Our Coffee Shops posted revenue of EUR 579 thousand in Q1 2025, marking a strong 60% increase year-over-year. This growth was driven by double-digit growth in already existing coffee shops as well as the contribution of the Company's fifth coffee shop, which opened in December 2024.
The B2B business line also recorded a healthy 23% increase in revenue, reaching EUR 350 thousand in Q1 2025. This growth was boosted by increasing sales volumes of coffee, improved pricing, and the positive impact of non-coffee product offerings.
The E-Commerce business line continued its growth, reaching EUR 36 thousand in revenue, an exceptional 120% increase year-on-year, driven by an increase in total items sold and average order value.
| Revenue ('000 EUR) | Unaudited data for 3 months 2025 | Unaudited data for 3 months 2024 | Delta, % |
| B2B | 350 | 284 | +23% |
| Coffee Shops | 579 | 363 | +60% |
| E-Commerce | 36 | 16 | +120% |
| Total Revenue | 966 | 663 | +46% |
"The first quarter of this year has been a significant period for us, as we have opened our first café funded by the proceeds raised during the IPO process. Additionally, the newly formed business development team has proven its ability to effectively and swiftly respond to the new reality, successfully preparing the groundwork for achieving our 2025 goals,"says Gatis Zēmanis, Chairman of the Management Board of KALVE.
Management retains its 2025 EUR 1 200 000 EBITDA guidance.
About AS Kalve Coffee
AS Kalve Coffee is a brand created by coffee professionals, aiming to develop and strengthen the culture of specialty coffee roasting, brewing, and appreciation in the Baltic region. Kalve Coffee began operations in early 2019. The core values of KALVE are outstanding coffee and service quality, honesty, excellent product design, and responsible practices in all processes. As we continue to growas a B-Corp company, sustainability is key - both through products and services with a positive long-term impact and by caring for environmental quality at every stage of the coffee production chain.
Additional Information
Gatis Zēmanis
Chairman of the Board
+371 27303355
ir@kalvecoffee.com
Certified Advisor:
ZAB Eversheds Sutherland Bitāns SIA
Justīne Ignatavičute
Email: justine.ignatavicute@eversheds-sutherland.lv
Phone: +371 2866506