Møller Mobility Group to reduce share capital of four subsidiaries in Latvia
Norwegian automotive group Møller Mobility Group is planning to reduce the registered share capital of several of its subsidiaries in Latvia, including Møller Auto and Møller Baltic Import entities. Both businesses reported strong revenue and profit growth last year.
Norwegian car retail group Møller Mobility Group AS is preparing to reduce the registered share capital of several of its subsidiary companies in Latvia. The move is part of a broader initiative aimed at simplifying and standardizing the capital structure of the group's subsidiaries.
The company explains that the current level of registered share capital exceeds what is needed for the businesses' day-to-day operations and financing needs, meaning it is no longer considered economically necessary. The group emphasizes that the change is primarily a legal and structural optimization of equity composition rather than an actual withdrawal of capital from the business — after the reduction, the companies will retain a substantial amount of retained earnings and thus a stable equity base.
Møller Mobility Group states it does not expect the planned reduction to negatively affect the companies' liquidity, daily operations, or ability to meet financial obligations on time. The group says it will continue to ensure each company maintains a level of capitalization and liquidity appropriate to its business activity, risk profile, and contractual obligations.
Group performance figures
The Møller Auto group in Latvia is engaged in new and used car retail, the Møller Go car subscription service, and after-sales services. The group consists of five companies — Møller Auto Latvia, Møller Auto, Møller Auto Ventspils, Møller Auto Krasta, and Møller Auto Outlet. In 2025, their combined revenue reached €236.29 million, up 18% from the previous year. Net profit grew 33% to €4.3 million, and the group paid €10.7 million in taxes to the state.
Møller Baltic Import handles the import and wholesale of Audi vehicles in Latvia and Lithuania, as well as Volkswagen vehicle distribution across the Baltic states. Its 2025 revenue rose 40% to €523 million, while profit increased 44% to €14.75 million. The company paid €33.31 million in taxes.
