KALVE IS PREPARING FOR AN IPO

An Initial Public Offering (IPO) is the process by which a company’s shareholders decide to start selling company shares on the stock exchange, attracting additional capital. This allows anyone interested to purchase shares and become part owners of the company.

As part of KALVE’s public share offering, all investors – existing and prospective clients and KALVE supporters – will have the opportunity to become co-owners of the company.

KALVE shares plans to list on the Nasdaq Riga First North market.

Currently, a dividend policy is being developed and will be presented shortly.

The KALVE Coffee product and service portfolio is broad enough for both business and individual segments. We plan to offer an interesting and diverse shareholder loyalty programme, which will be presented shortly.

One of KALVE’s core values is accessibility, which includes product, financial, and environmental accessibility. The foundation of any business is the ability to maintain a healthy cash flow. Implementing the IPO is a step closer to making KALVE more accessible to everyone who enjoys coffee.

KALVE plans to raise approximately one million euros through the offering.

In the initial share offering, KALVE plans to issue new shares.

The share price will be determined upon the approval of the IPO prospectus, expected later this year.

While the IPO is KALVE’s main focus, we are continuously looking at various financial alternatives to ensure stable company growth.

SIA Kalve Coffee beneficial owners are – Gatis Zēmanis, Raimonds Selga, SIA FINST and Jānis Andersons.

To address the lack of accessibility in Latvia’s “specialty” or high-quality coffee market, KALVE has developed in various directions, providing significant competitive advantages. A major growth milestone was the creation of the largest specialty coffee roastery in the Baltics, located in Jaunmārupe, with a total area of 700 square meters. This allows the company not only to produce its roasted coffee but also to sell it, contributing significantly to the overall turnover of coffee shops – about 30%. This distinguishes KALVE from competitors, as it offers a diverse range of products to satisfy any coffee lover, thus fulfilling the company’s mission.
KALVE is also the only company in Latvia and the first in the Baltics to receive the “B-Corp” sustainability certification – the gold standard in ESG risk management. This reflects the desire to provide high-value coffee while creating a positive impact locally and globally.

Sustainability is the foundation of KALVE’s entire business process, from packaging to personal, lasting cooperation with coffee bean growers. Last year, KALVE became the first company in Latvia to receive the “B Corp” sustainability certification – the gold standard in ESG risk management. To become a certified “B Corp” company, each business must demonstrate a very high social and “B Impact Assessment” score of at least 80 points. The average score for companies completing the “B Corp” application is 50.9 points, while KALVE scored 91.8 points.
KALVE has also proven that the company’s approach to sustainability can help overcome challenges more easily. For example, by creating sustainable partnerships with green coffee suppliers, the company has not faced supply chain disruptions, a significant risk in today’s geopolitical and climate conditions.
More about how KALVE implements sustainable business practices can be read in the activity report: https://kalvecoffee.com/pages/performance-report

Last year showed the most successful results to date, with the company’s turnover in 2023 reaching 2.49 million euros, a 38% increase compared to 2022, and profits reached 53 thousand euros. Since the company’s establishment in 2019, our turnover growth until 2023 has been 617.5%. We have ensured stable growth, one of KALVE’s values, proving that we can both earn and improve the industry by adhering strictly to quality and sustainable actions in the company’s daily operations.
A detailed financial report can be found in the activity report:

https://kalvecoffee.com/pages/performance-report

The IPO is a step closer to making KALVE more accessible to every coffee lover. The raised funds are primarily planned for developing KALVE brand cafes in the Baltics and other EU countries. In 2025, the company plans to open six KALVE cafes in the Baltic states, and in 2026 – the first cafes outside the Baltics.

The funds are also intended for improving and expanding production processes, purchasing equipment, and expanding the coffee machine supplier portfolio, which will allow a more effective and competitive market offering. This will ensure that all necessary technical equipment is available to cover any concept in the business segment – from gas stations and hotels to small offices.

In 2025, the company plans to open its first KALVE cafes in the Baltic states, and in 2026 – the first cafes outside the Baltics. A new concept cafe in the heart of Riga, a “living room” that can accommodate up to 70 people, is also being developed, further opening doors to local communities.

Considering that the online store’s turnover accounts for about 3.5% of the total turnover, to make it even more versatile, KALVE is developing a subscription platform for both private and business clients. The platform aims to meet the growing demand for flexible and convenient coffee purchasing options for those whose daily coffee consumption is not large enough to buy in bulk.

To receive the latest information about KALVE news and results, we invite you to subscribe to our updates on our website https://kalvecoffee.com. We also invite you to follow KALVE’s social media accounts on LinkedIn, Facebook, and Instagram.

The non-profit organization “B Lab” certifies companies as “Benefit Corporations” or “B Corp.” This certification is unique in that it considers the company as a whole, including social and environmental aspects.
Companies that pass the stringent evaluation criteria are considered business leaders in the global movement for inclusive, fair, and responsible business. “B Corp” includes the gold standards that KALVE Coffee has adhered to since its inception, never straying from its values.
In 2023, KALVE became the first company in Latvia to receive the “B Corp” sustainability certification – the gold standard in ESG risk management. To become a certified “B Corp” company, each business must demonstrate a very high social and “B Impact Assessment” score of at least 80 points. The average score for companies completing the “B Corp” application is 50.9 points, while KALVE scored 91.8 points.
More about KALVE’s journey to “B Corp” can be read here.

“Specialty” coffee is the highest quality coffee. Coffee is rated on a 100-point scale, with “specialty” coffee starting from 80 points and above. We purchase coffee that is rated 82+ points to ensure excellent quality.

Global coffee demand is rapidly increasing, and the “specialty” coffee segment is growing rapidly. It is expected that the growth rate will be higher in the specialty coffee segment, as customers prefer high-quality coffee with high added value. This segment is growing particularly fast in the US and European countries.

KALVE is also growing – last year, the company sold 71,6 tons of coffee, a 15% increase compared to 2022. The growing demand opens opportunities for the company to expand its geographical presence, offer increasingly diverse coffee solutions, and increase roasting capacity.

Climate change undoubtedly affects the coffee industry. For example, three years ago, Brazil, the world’s largest coffee bean producer, accounting for about 35% of the world’s coffee export, was hit by frost, resulting in a 35% loss of the total harvest and a threefold increase in market prices.

However, as KALVE grows larger, it can create a more significant positive impact in coffee-growing countries like Brazil, with which KALVE has established reliable and long-term cooperation with growers.