In Q1 2023, GDP contracted 3.2% y/y (non-adjusted) and 0.6% q/q (swda) in real terms. GDP contraction met our expectations. In nominal terms, Estonian economy expanded 9.3%, above the long-term average. Estonian economy has contracted five quarters in a row…
Nordecon AS and Saku Municipality entered a contract for the construction works of new study and sports facilities of Saku Gymnasium. According to the contract, a new three-story elementary school building with a net area of 10,500 sqm and a…
The average wage growth accelerated to 13.3% in the first quarter from 12.1% in the fourth quarter. Wage growth was rapid and broad-based despite difficult economic times. Wage growth accelerated due to a significant increase in public sector wages, especially…
Nordecon AS (registry code 10099962, address Toompuiestee 35, 10149 Tallinn) annual general meeting of shareholders was held on 23 May 2023 at 10.00 a.m. in the conference centre of Radisson Blu Hotel Olümpia, room Gamma (Liivalaia 33, 10118 Tallinn). The…
We announce that the Management Board is calling for the annual general meeting of AS Pro Kapital Grupp (registration code 10278802, located at Sõjakooli 11 Tallinn Republic of Estonia) (hereinafter the Company) shareholders which shall take place on Tuesday, 19th of…
The Annual General Meeting of Arco Vara AS (registry code 10261718; registered office at Rotermanni 10, 10111 Tallinn) was held on 17 May 2023 in Tallinn at F-Hoone Must Saal (Telliskivi 60a/4). The General Meeting commenced at 5:00 p.m. and…
The situation in the labor market is still good, despite the year-long recession in the economy. The number of the employed is record-high (up by 3.2%, over the year) and the unemployment rate is relatively low. According to Statistics Estonia,…
Northern Horizon Capital AS invites Baltic Horizon Fund unit-holders and Swedish Depositary Receipt (hereinafter the “SDR”) holders (hereinafter together the “Investors”) to attend an annual General Meeting (hereinafter the “General Meeting”) of Baltic Horizon Fund on 2 June 2023 at…
The consolidated sales revenue of Hepsor amounted to 6.0 million euros in the first quarter of 2023 and the net profit was 0.14 million euros (including a net profit attributable to the owners of the parent of 0.24 million euros).…
Hepsor AS 2022 Annual Report has been prepared in accordance with the requirements of the ESEF (European Single Electronic Format) format, but when submitting the report, we have made a mistake in compressing the report files, so there may be…
In April, consumer prices increased by 13.5% compared to the same month last year and by 2.0% compared to the previous month. Compared to last month, prices rose quite a lot due to the end of government energy subsidies to…
COMMENTARY FROM MANAGEMENT Q1 2023 revenue for Merko Ehitus was EUR 76 million, representing 11% growth compared to the same period a year ago. Net profit for the first quarter was EUR 5.9 million – nearly double that of Q1…
EfTEN United Property Fund earned a net loss of 34 thousand euros in the first quarter of 2023 (2022 first quarter: 121 thousand euros of net profit). The loss results from a change in investment valuation principles – following the…
Uncertainty in the economy has not disappeared with the arrival of the new year, and the dynamics of the construction market is a direct reflection of this. Many private developments are frozen or on hold, public construction procurements have not…
EfTEN Capital AS, as the management company of the EfTEN United Property Fund (stock market ticker EFCUPFFT, ISIN code EE3500001609) decided to make a cash distribution of 18,179 euro cents per unit from the fund to the unitholders. The distribution…
