“The results of the year 2025 have exceeded the initial expectations – we have achieved the historically highest turnover, restored growth after a challenging period in Scandinavian markets, and entered our 35th year of operation with a strong project base. These results were achieved through the disciplined management of project portfolio, ability to adapt to changing market conditions, and a strengthened presence in the Baltic states,” says Dainis Bērziņš, Chairman of the UPB Board.
The head of the company explains that products that were previously mainly export-oriented are playing an increasingly important role also in the Baltic markets. The interest about precast concrete façades with various decorative finishing solutions is growing rapidly in the region – structures for several projects in Latvia and Lithuania are already in production, and the future project portfolio has been significantly expanded with orders from the Baltic states.
Investments will reach 30 million euros in the next three years
Following a more cautious development period, UPB Group starts the year 2026 with a new investment cycle. Over the next three years, 30 million euros will be directed toward advancing production technologies, increasing automation, and strengthening engineering competencies.
This year, significant resources are intended in the segment of ready-mixed concrete, acquiring a new mobile concrete plant and renewing the fleet of specialized vehicles. Also, work on modernizing the mechanical engineering production facility will continue.
In 2025, UPB allocated 6 million euros to development projects, the majority directed toward the precast concrete facility in Liepāja, extending the production of Terrazzo concrete façades. Resources were also used for the development of low-carbon concrete products – enabling clinker reduction of up to 70% while maintaining durability, longevity and quality of the product.
UPB Nams project portfolio has grown by 45 %
Continuing the growth in the industrial and energy sector in Latvia, turnover of the Group’s general construction company UPB Nams has increased by 45 % and reached 71 million euros in 2025.
Last year, construction commenced on the new Latvijas Finieris resin plant, with UPB providing design, construction, and installation of technological equipment. The Group’s largest energy project to date, the Laflora Energy wind park, is nearing completion. At the same time, implementation of two Design & Build projects – the construction of the Lung Health and Infectious Diseases Unit of Riga East University Hospital and modular powder charge assembly plant for artillery ammunition in Iecava– has commenced.
The confirmed project portfolio for year 2026 shows that investor activity in the industrial sector remains strong, supporting expectations of turnover growth in the future.
Rising demand for integrated solutions in export markets
“International projects are becoming larger and more technically complex. It requires not just delivery of individual products, but an integrated approach, which is the basis of our competitiveness – combining design, production and construction in a single solution,” emphasizes Dainis Bērziņš.
Among the most significant international projects in 2025 was the Sture development in central Stockholm, where three new buildings are being constructed within a historic urban environment. In Norway, the Group completed its largest façade project to date in the Oslo region - Campus Ullevål. Meanwhile, in the United Kingdom, two projects in London are nearing completion, while a new project in Cambridge is in the design stage.
The professional performance of UPB in the international markets has been highly appreciated also in Latvia – the company received the state’s highest award in business “Export Champions 2025”.
Focus on technically sound sustainability solutions
With rising project complexity, climate and environmental requirements are also becoming more demanding. UPB’s sustainability approach is built on practical, technically sound solutions that are aligned with real production and construction capabilities.
UPB was involved in the office building development project “Olivin” in Stockholm in 2025 at an early stage. During the design phase, several optimizations were implemented, including the integration of reused precast concrete structures into the building frame, which significantly reduced the project’s CO₂ footprint.
In another project, recycled bricks were used as a decorative finish for concrete façade elements, promoting circular economy principles in construction.
