Merko Būve's revenue up 51% last year, reaching €37.7 million

Merko Būve, part of the Baltics' largest construction group Merko Ehitus operating in Latvia, increased its revenue by 51% last year to reach €37.7 million. Its net profit grew even faster, rising 242% to nearly €3 million. The company's net profit margin reached 7.9% in 2025, one of the highest figures in the industry.

Company board chairman Jānis Zilgme said last year's results demonstrate the ability to grow business volume while also ensuring profit growth, creating a stable foundation for the company's further development. He emphasized that rapid revenue growth in construction is not a goal in itself — sustainable growth, achieved through careful evaluation of projects and risks, matters more. Alongside the company's growth, its team has also expanded significantly, bringing in specialists with diverse experience.

Industry outlook and future plans

As a general contractor and designer, Merko Būve carries out residential, public and commercial building projects as well as industrial and infrastructure projects, including full design-and-build undertakings.

Zilgme noted that Latvia's economy continues to grow moderately this year, and overall construction volume has also risen slightly, though activity among private and foreign investors remains relatively low, especially compared to Lithuania and Estonia. The company sees the greatest growth potential in the defense and energy sectors, where significant investments are expected in coming years. The stabilization of construction costs was also noted as a positive factor.

This year the company continues working on several defense-sector and residential projects, has completed construction of its first wind farm, and has finished building the Duck Republic student hotel, which will provide housing for 350 students.