Anyone can become a co-owner of AS Kalve Coffee, including our partners and supporters.

AS Kalve Coffee shares are listed on the Nasdaq Riga First North market.

More information is available in the Dividend Policy section.

Yes. Learn more about our loyalty program here.

Accessibility is one of KALVE’s core values, from our products and pricing to the spaces we create. A healthy financial foundation is essential for any business, and launching an initial public offering was a natural next step in making KALVE more accessible to coffee lovers and supporters.

AS Kalve Coffee has five ultimate beneficial owners: Gatis Zēmanis, Raimonds Selga, SIA FINST, and SIA 18.augusts. In Latvia, the register of shareholders holding a 5% or greater stake is updated annually, based on the annual report.

Our founding mission was to address the lack of access to high-quality, specialty coffee in Latvia. In achieving this, we have developed multiple business verticals that provide a significant competitive edge.

A major catalyst for our growth was opening the largest specialty coffee roastery in the Baltics, located in Jaunmārupe. The 700-square-meter facility enables us not only to produce but also to retail our own roasted coffee, which constitutes a substantial portion—approximately 30%—of our total café turnover. This diverse product offering caters to a wide variety of consumer preferences, allowing us to fulfill our mission and stand out in the market.

Furthermore, we are the first company in Latvia to receive the B Corp sustainability certification, recognized as the gold standard in ESG risk management. This reflects our commitment to delivering high-value coffee through responsible business practices that create a positive impact on the environment, local communities, and the planet.

Sustainability is at the core of all AS Kalve Coffee operations, from our production processes to our partnerships with coffee farmers. We hold the B Corp sustainability certification, the gold standard in ESG risk management. To become a certified B Corp, a company must demonstrate strong social performance and achieve a B Impact Assessment score of at least 80 points. While the median score for ordinary businesses is 50.9 points, KALVE achieved an outstanding 91.8 points.

Through our operations, we aim to prove that a strong commitment to sustainability actually helps navigate business challenges more effectively. For instance, by building sustainable, long-term relationships with our green coffee suppliers, we have successfully avoided supply chain disruptions—a critical risk in today’s geopolitical and climate environment.

You can read more about how we implement sustainable business practices in our performance report: https://kalvecoffee.com/lv/pages/darbibas-parskats.

Last year delivered our most successful results to date. In 2025, the company's turnover reached €5.3 million, representing a 55% increase compared to 2024.

From the company's founding in 2019 through 2025, we have achieved a remarkable 1,414% revenue growth. We have ensured stable, consistent growth—one of KALVE’s core values—and proven that it is possible to be highly profitable while simultaneously elevating the industry through an unwavering daily commitment to quality and sustainability.

A detailed financial overview is available in our performance report: https://kalvecoffee.com/lv/pages/darbibas-parskats.

Executing our IPO was a key step toward making KALVE even more accessible to coffee enthusiasts everywhere. The funds raised are primarily allocated to the development and expansion of KALVE brand cafés across the Baltics and other European Union member states. In 2025, we successfully opened four new café-stores in the Baltic countries and two locations in Paris.

In 2025, we expanded our footprint in the Baltics by opening three cafés in Tallinn and one in Vilnius. We also delivered ahead of schedule on our forecast for our first European expansion, opening two locations in Paris in 2025. Moving forward into 2026, we plan to continue our European growth trajectory, beginning with the opening of our first partnership café in Lisbon.

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You can also track our market performance on Nasdaq Baltic here

The non-profit organization B Lab certifies companies as Benefit Corporations, or B Corps. This certification is unique because it evaluates a company holistically, comprehensively assessing its social and environmental footprint. Companies that pass these rigorous evaluation criteria are recognized as leaders in the global movement for an inclusive, equitable, and responsible economy.

The B Corp framework represents the gold standard that AS Kalve Coffee has followed since our inception, never once compromising on our core values. We are proud to be the first company in Latvia to achieve this certification. Becoming a certified B Corp requires demonstrating high social impact and achieving a minimum of 80 points on the B Impact Assessment. While the average business scores 50.9, we achieved 91.8 points.

You can read more about our journey to becoming a B Corp here.

Specialty coffee is coffee of the highest quality. It is evaluated on a 100-point scale, with specialty grade starting at 80 points and above. To ensure consistently high quality, we source green coffee beans that score 82 points and higher.

Global coffee demand continues to grow, alongside rapid expansion of the specialty coffee segment. Growth is expected to be strongest within specialty coffee, as consumers increasingly choose higher-quality coffee with greater added value. Growth is particularly strong in the United States and across Europe.

We are growing alongside the market. In 2024, we sold 82.9 tons of coffee, an increase of around 25% compared to 2022. Rising demand creates opportunities for geographic expansion, a broader range of coffee solutions, and increased roasting capacity.

The coffee sector is clearly feeling the impact of climate change. For example, in 2022 Brazil, the world’s largest coffee producer accounting for around 35% of global coffee exports, was hit by severe frost. As a result, about 35% of the total harvest was lost, and market prices rose threefold.

Even facing such challenges, our continued growth allows us to create positive impact for the coffee farmers we work with through trusted, long-term partnerships.