Timbro secures €3M credit line to double revenue past €49M

What's the deal? Latvian forestry company TimbroDealroom has a profile for this one. Try Dealroom → has secured €3 million in debt financing through a credit line from Luminor BankDealroom has a profile for this one. Try Dealroom →. The facility raises Timbro's total available credit to €5 million.

What's the endgame? Timbro plans to double its revenue over the coming years by scaling up logging and timber trading while developing new business areas. It aims to become one of the leading forestry companies in the Baltics within five years.

The numbers: Timbro generated €49 million in revenue in 2025 and targets doubling that figure. Chief executive officer Raimonds Cipe said the financing enables the group "to continue this rapid growth journey and double the Group's revenue in 2026."

Why now? Over the past two years, Timbro has assembled a forestry group by acquiring several companies and bringing together more than 100 professionals. It has also invested in digital tools for supply-chain transparency and forest valuation, and now works with more than 400 suppliers.

"Timbro has already proven its capabilities and has a clear development strategy, which is why we are pleased to support the company's growth plans," said Ilze Zoltnere, head of the corporate department at Luminor Bank in Latvia.

The signal: Forestry accounts for roughly one-fifth of Latvia's total exports and nearly one-third of manufacturing output. Despite swings in the European construction market, the sector continues to draw investment in efficiency, digitalisation, and higher value-added products — the backdrop against which lenders remain willing to extend working capital to fast-growing players like Timbro.

Read more: Finance Latvia