Hotrema marked an important milestone in its expansion history — a new company, Hotrema GmbH, was opened in Switzerland. This is a significant step that opens the door to long-term, sustainable activity in one of the most stable European economies.

“The new company will let us implement long-term projects in Switzerland and strengthen our clients’ trust in this market,” Sigitas Žutautas, Head of the Finance Department, says about the expansion.

He notes that establishing a local company was a natural next step to comply with the country’s legal requirements and ensure efficient project implementation. So far, the Hotrema team has successfully implemented projects in Switzerland through a Lithuanian-registered company. However, applicable local regulations have restricted business expansion. This was the reason for establishing a local company that can implement long-term agreements and ensure the stable continuity of the activity.

“This step will allow us to solidify our positions in Switzerland and build a solid foundation for further service expansion”, Žutautas adds.

The new company is planning to continue successfully implementing insulation and scaffolding activities, while at the same time creating conditions to develop new services in the Swiss market.

On 19 September 2025, the Nasdaq Vilnius stock exchange admitted Hotrema’s issued bonds for trading on the Nasdaq Baltic First North market.

Through a public bond offering in Lithuania, the industrial insulation and scaffolding systems installation group Hotrema raised more than EUR 5 million. Each bond has a nominal value of EUR 1,000, with an annual interest rate of 9%, paid quarterly The bonds have a maturity of 2 years and 10 months, with a redemption date of 25 April 2028.

The issuance attracted strong interest from both retail and institutional investors, with demand exceeding supply. Initially, the company planned to raise a smaller amount, but due to active participation from investors, the final amount exceeded EUR 5 million. In total, 423 investors purchased the bonds, 76% of whom were retail investors from Lithuania, Latvia, and Estonia. The average invested amount reached approximately EUR 11,800.

The bonds were distributed by AB Artea Bank, the issuer’s certified adviser is the law firm Norkus ir partneriai COBALT, and the bondholders’ trustee is Audifina.

“This step by Hotrema into the First North market is a great example of how the Baltic capital market is becoming increasingly attractive to growing companies. We are pleased to contribute to this stage and believe that investor confidence will help Hotrema further strengthen its position in the energy, industrial, and infrastructure project services sector,” Gediminas Varnas, President of Nasdaq Vilnius, says.

“The successful placement of the bond issue and entry into the First North market marks an important stage in Hotrema’s growth. We thank investors for their strong interest, which demonstrates trust in our vision and capabilities. This support gives us even more determination to expand internationally and continue growing Hotrema as a reliable partner for both clients and investors,” Marius Lazdauskas, Hotrema’s CEO and shareholder, adds.