The first half of 2026 demonstrated the returns on the sustained investment Longo Group JSC has made across its platform, as the profitability measures developed through the second half of 2025 continued to strengthen results, delivering a clear profit underpinned by stronger margins, higher revenue and disciplined cost control.
In the first half of 2026, Longo Group generated total revenue of €24.4 million, an increase of 14% compared to the first half of 2025 (€21.3 million). Growth was driven primarily by a higher average value of car sold and continued growth across all supplementary income streams, reflecting the Group’s ongoing investment in monetisation and value-added services. The stabilisation of volumes in Estonia, following the market’s adjustment to the motor vehicle taxation framework introduced on 1 January 2025, provided a further contribution.
The Group’s gross profit margin for the first half of 2026 increased by 2.1 percentage points year-on-year, reaching 19.3% (H1 2025: 17.2%) and producing total gross profit of €4.7 million (H1 2025: €3.7 million). The improvement reflects sustained investment in focused sourcing of high-demand vehicles and in the value-added services and profitability platform built up through 2025, supported by the Group’s continued investment in AI across functions.
EBITDA rose to €2.1 million (H1 2025: €0.7 million), reflecting higher gross profitability and continued tight administrative cost management. Administrative expenses decreased to €2.4 million (H1 2025: €2.6 million), confirming the sustainability of the cost discipline established in 2025 and the early efficiency gains from embedding AI across administrative and operational workflows. The Group recorded a net profit of €0.9 million (H1 2025: loss of €(0.5) million), evidence that the Group’s investments are now translating into durable, sustainable profitability.
Looking ahead, the Group remains on track with its stated priorities: sustainable, profitability-led growth with the Baltics as the primary focus. Key priorities for the remainder of 2026 include further gross-margin improvement through disciplined sourcing, focused high-demand assortment selection, continued enhancement of vehicle-preparation workflows and stronger monetisation via value-added services.
The Group will maintain tight control over administrative costs and concentrate on profitable growth opportunities. In Poland, the approach will remain selective and profitability-led, prioritising returns over rapid expansion. As the Estonian market continues to adjust to the new taxation environment, management expects further stabilisation of volumes to support the Group’s path of profitable growth.
Longo Group AS unaudited financial report for period ended 30 June 2026
About Longo Group AS
Longo Group is the largest used car retailer in the Baltic region, providing the most extensive selection of vehicles, it has expanded its operations also to Poland. Established in 2018, Longo employs over 110 professionals and reached a revenue of 44 million euros in 2025.
The headquarters are in Latvia, from which Longo Group AS manages 9 subsidiaries across Latvia, Lithuania, Estonia, Poland, the Netherlands, Belgium, and Germany. Since the inception, Longo mission has been to establish a new standard of quality within the used car retail sector in the Baltic region, ensuring a transparent, reliable, and outstanding car-buying experience for customers, both online and in-person.