Baltic Horizon Fund today announces the release of its fifth annual ESG report. Tarmo Karotam, Fund Manager for Baltic Horizon Fund, commented: “We are very pleased to present our new ESG report covering the fund’s operations for 2023. Environmental, social,…
On June 12, 2024, Hepsor U34 SIA, Hepsor AS group company, and Latvian affiliate of Bigbank AS signed a loan agreement for the amount of 9 million euros. The purpose of the loan is to finance the construction of StokOfiss…
Estonia’s GDP dropped 2.4% year-on-year in Q1 2024 in real terms (non-adjusted), according to Statistics Estonia. In quarter-on-quarter comparison, GDP continued to contract at the start of the year, falling by 0.5% (swda) in the first quarter. Nominal GDP growth…
Elamuarendaja Avalon sõlmis Tartu mnt 44 aadressil asuva äri- ja kortermaja ehitamiseks lepingu peatöövõtjaga Bildgren Ehitus. Ligi 14,5 miljonit eurot maksva arendusega rajatakse Tallinna tuiksoonele modernne Manhattani stiilis äri- ja kortermaja. Ehitusega alustati sel nädalal, hoone valmib järgmise aasta lõpus.…
Hepsor U34 SIA, a subsidiary of Hepsor AS Group, and construction company Mitt&Perlebach signed a contract on May 17, 2024, for the construction of a development project called StokOfiss 34 in Riga at Ulbrokas 34. The construction contract is approximately…
COMMENTARY FROM MANAGEMENT Merko Ehitus revenue was EUR 81.2 million in Q1 2024, representing 7.2% growth compared to the same period a year ago. Net profit for the quarter was EUR 4.4 million. Merko delivered 59 apartments and 7 commercial…
The consolidated sales revenue of Hepsor AS amounted to 2.3 million euros in the first quarter of 2024 and the net loss was 0.97 million euros (including a net loss attributable to the owners of the parent of 0.88 million…
OÜ Merko Kodud, part of AS Merko Ehitus group, has decided to launch the construction of the sixth stage of the Uus-Veerenni residential development project in the city centre of Tallinn. As part of this, an apartment building with a…
The Management Board of Hepsor AS has prepared the audited annual report for 2023. Compared to the unaudited interim report published on 14 February 2024, there are no material differences in the audited report. The consolidated sales revenue of Hepsor for…
GROUP CEO’S REVIEW While 2021 and 2022 were a sprint on the real estate market, last year marked the start of a marathon in the heat of Euribor. The base interest rates of the central bank have pushed both investors…
SIA Merks Mājas, part of AS Merko Ehitus group, has launched the Lucavsala residential project on Lucavsala island on the Daugava River in Riga. The first stage of the project comprises a connected complex of three building with 214 apartments…
Estonia’s GDP dropped 2.7% year-on-year in Q4 2023 and 3.0% in 2023 in real terms (non-adjusted), according to Statistics Estonia. In quarter-on-quarter comparison, GDP continued to contract in Q4, falling by 0.7% (swda). Nominal GDP growth slowed to 4.6% in…
OÜ Merko Kodud, part of AS Merko Ehitus group, has decided to launch the fifth stage of Erminurme residential development project in Tartu Parish. The stage includes two buildings at Erminurme Road 2 and Erminurme Road 22 with 36 apartments,…
Hepsor’s 2023 consolidated revenue amounted to 41.1 million euros, with a net profit of 3.5 million euros (including a share of 1.2 million euros for the parent company’s owners). The consolidated revenue for the fourth quarter of 2023 was 5.1…
COMMENTARY FROM MANAGEMENT Merko Ehitus revenue was EUR 126 million in Q4 2023, and the revenue for 12 months amounted to EUR 466 million, while the respective figures for net profit were EUR 13.9 million and 12 months was EUR…
