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Mapon significantly increases revenue and reports profit growth
The turnover of the fleet management solutions company Mapon Group reached EUR 24.2 million in 2025, representing a 22.8% increase year-on-year. At the same time, the company significantly improved its profitability, reaching EUR 1.53 million.
“The past year has been a period of focused international growth, product development, and organisational strengthening for Mapon. We continue to strengthen our position as one of the leading fleet management and asset tracking solution providers in Northern Europe, while expanding our presence in new markets and developing solutions that help clients manage transport resources more efficiently, improve safety, and digitalise daily operations,” last year’s achievements are commented on by Mapon CEO Dāvis Siksnāns, who has been leading the company for nearly two years. He adds that such rapid growth is unusual for a company that has already celebrated its 20th anniversary.
One of the most significant events of the year was Mapon’s continued expansion across Europe. In February, the company acquired a Sweden-based fleet management solutions company. During the second half of the year, Mapon also acquired an industry company in Ireland. This marked Mapon’s eighth acquisition overall and enabled the company to strengthen its presence in these markets, expand its customer base, and attract professionals with extensive experience in the European market.
Mapon continued developing technological solutions that simplify fleet management and data processing for logistics companies. In January, the company announced a partnership with German commercial vehicle manufacturer KRONE to develop an automated data exchange integration. Mapon also further developed its Tachogram product by creating integrations with global heavy commercial vehicle manufacturers Volvo and Scania.
The company obtained new international ISO certifications and expanded the scope of its information security management certification to include its offices in Estonia and Denmark. These certifications are important as Mapon continues its international expansion and integration of foreign companies while maintaining unified quality, security, and sustainability standards across all business units.
During the year, Mapon also received recognition for its contribution to building an inclusive work environment. In the Latvian Society Integration Foundation’s “Diversity is Strength” assessment, the company was awarded Silver status for the successful implementation of diversity policies and active employee engagement. This recognition demonstrates that the company’s growth is driven not only by financial and market performance, but also by organisational culture and people.
In cooperation with The Road Traffic Safety Directorate, Mapon also implemented a public awareness campaign aimed at drawing attention to one of the most dangerous road traffic manoeuvres — reckless and dangerous overtaking. In addition, together with its clients, the company provided research data for the “Professional Competence Centre for Road Transport” study titled “Research on Overtaking Manoeuvres Performed by Drivers”.
The company continued using capital market instruments to support its long-term growth. Mapon bonds were listed on the Nasdaq First North bond market and started trading on the exchange. The EUR 3 million raised through the bond issue was used to finance acquisition transactions and support Mapon’s expansion across Europe.
Mapon is one of the leading fleet management and asset tracking solution providers in Northern Europe, with more than 20 years of experience. The company is trusted by more than 35,000 customers and has an extensive partner network across Europe, the United States, Latin America, Australia, and Africa. More than 200 professionals work in Mapon offices located in Latvia, Lithuania, Estonia, Finland, Sweden, Denmark, Spain, Ireland, and the United Kingdom. Part of the Mapon team previously worked at Latvia’s first unicorn company, Printful.
The company’s two largest shareholders, each holding 44.89% of shares, are “Pirmdiena” and “Draugiem Group”. The owners of “Pirmdiena” are Lauris Liberts and Inga Liberte in equal shares, while Agris Tamanis is the owner of “Draugiem Group”.
One of the most significant events of the year was Mapon’s continued expansion across Europe. In February, the company acquired a Sweden-based fleet management solutions company. During the second half of the year, Mapon also acquired an industry company in Ireland. This marked Mapon’s eighth acquisition overall and enabled the company to strengthen its presence in these markets, expand its customer base, and attract professionals with extensive experience in the European market.
Mapon continued developing technological solutions that simplify fleet management and data processing for logistics companies. In January, the company announced a partnership with German commercial vehicle manufacturer KRONE to develop an automated data exchange integration. Mapon also further developed its Tachogram product by creating integrations with global heavy commercial vehicle manufacturers Volvo and Scania.
The company obtained new international ISO certifications and expanded the scope of its information security management certification to include its offices in Estonia and Denmark. These certifications are important as Mapon continues its international expansion and integration of foreign companies while maintaining unified quality, security, and sustainability standards across all business units.
During the year, Mapon also received recognition for its contribution to building an inclusive work environment. In the Latvian Society Integration Foundation’s “Diversity is Strength” assessment, the company was awarded Silver status for the successful implementation of diversity policies and active employee engagement. This recognition demonstrates that the company’s growth is driven not only by financial and market performance, but also by organisational culture and people.
In cooperation with The Road Traffic Safety Directorate, Mapon also implemented a public awareness campaign aimed at drawing attention to one of the most dangerous road traffic manoeuvres — reckless and dangerous overtaking. In addition, together with its clients, the company provided research data for the “Professional Competence Centre for Road Transport” study titled “Research on Overtaking Manoeuvres Performed by Drivers”.
The company continued using capital market instruments to support its long-term growth. Mapon bonds were listed on the Nasdaq First North bond market and started trading on the exchange. The EUR 3 million raised through the bond issue was used to finance acquisition transactions and support Mapon’s expansion across Europe.
Mapon is one of the leading fleet management and asset tracking solution providers in Northern Europe, with more than 20 years of experience. The company is trusted by more than 35,000 customers and has an extensive partner network across Europe, the United States, Latin America, Australia, and Africa. More than 200 professionals work in Mapon offices located in Latvia, Lithuania, Estonia, Finland, Sweden, Denmark, Spain, Ireland, and the United Kingdom. Part of the Mapon team previously worked at Latvia’s first unicorn company, Printful.
The company’s two largest shareholders, each holding 44.89% of shares, are “Pirmdiena” and “Draugiem Group”. The owners of “Pirmdiena” are Lauris Liberts and Inga Liberte in equal shares, while Agris Tamanis is the owner of “Draugiem Group”.
