KRS successfully places €6 million bond issue

KRS, one of the leading companies in the strategic infrastructure construction sector, has successfully placed a €6 million issue of secured bonds with a maturity of 2.5 years, completing the first stage of its €12 million bond programme. The bonds were offered to investors in Lithuania, Latvia and Estonia, with an annual interest rate of 9.25% determined through an auction. On 12 October, KRS bonds will be admitted to trading on Nasdaq’s First North alternative market.

Lithuanian investors purchased 62% of the issue, with Latvian and Estonian investors accounting for 25% and 13%, respectively. Retail investors purchased 48% of the issue. The bond issue was arranged and placed by investment services firm Orion Securities.

“In the United States, the bond market is larger than the equity market in both size and daily trading volume. Even the largest corporations, with virtually unlimited access to credit, issue bonds. In a mature market, this allows companies to diversify their debt portfolios and gain greater flexibility. We want to follow a similar path by building a close relationship with the capital markets. It is symbolic that institutional and retail investors subscribed to almost equal shares of the issue. We thank everyone for their trust and look forward to long-term cooperation. When offering these securities, we were confident that Baltic investors are rational and seek issuers with solid foundations. KRS is precisely such an issuer,” said Paulius Grigas, CEO of KRS.

In 2025, KRS’s revenue increased by 128% to €69.2 million. The company reported gross profit of €9 million and net profit of €2.1 million. In the first half of this year, revenue rose by 149% compared with the same period in 2025, reaching €54 million.

By the second half of September, KRS had secured 71 projects this year, with a combined value of €114.5 million. By comparison, the company won 74 contracts worth a total of €129 million over the whole of last year. KRS’s current project portfolio comprises 94 projects with a combined value exceeding €300 million.

KRS recently completed the first phase of the Vilnius Airport terminal refurbishment and the construction of a multi-storey car park at Kaunas Airport. Its project portfolio includes the construction of the administrative building for the Klaipėda State Seaport Authority’s management centre, a military equipment maintenance facility in Marijampolė, the Advanced Therapy Centre and the Infectious Diseases Building at Santaros Clinics, commercial and residential developments in Vilnius and Kaunas, street reconstruction projects in Vilnius, and other projects.

Founded in 1950 as a company specialising in the construction of telecommunications infrastructure, KRS is now a full-service general contractor. The company stands out for its expertise in specialised infrastructure construction and its use of the “design and build” model, under which it handles both the design and construction of projects for clients. This approach helps prevent errors, ensures the highest quality, and saves both time and money. The company holds 13 accreditations and certifications enabling it to undertake specialised projects in the gas, electricity and agricultural sectors, as well as special-purpose projects.

KRS is wholly owned by Inspiration Holdings, a diversified investment and development group managing 27 companies across four business sectors. Inspiration Holdings is wholly owned by Paulius Grigas.