On 17.10.2024, EfTEN Härgmäe OÜ finalized the transaction by which the company acquired the properties located at Härgmäe Str. 8 and Piimamehe Str. 7 in Tallinn from the Conus Assets OÜ. Previously (20.09.2024), the fund has notified the stock exchange…
Management Board of Northern Horizon Capital AS has approved the unaudited financial results of Baltic Horizon Fund (the Fund) for the six months of 2024. Our strategic ambitions Over the past year, our focus has been on reshaping our strategy to…
In the first half of 2024, the construction market has experienced increasingly intense competition. Public sector orders remain low, and the pre-construction process in the private sector continues to be very lengthy. Analysts’ forecasts for economic growth in the coming…
COMMENTARY FROM MANAGEMENT Merko Ehitus revenue for the 6 months of 2024 was EUR 204 million and net profit was EUR 17.5 million. Second-quarter revenue was EUR 122 million; net profit, EUR 13.1 million. The lower volumes from real estate…
Hepsori 2024. aasta II kvartali konsolideeritud müügitulu ulatus 5,2 miljoni euroni ja puhaskahjumiks kujunes 0,56 miljonit eurot (sh emaettevõtte omanikele kuuluv osa puhaskahjumist oli 0,65 miljonit eurot). 2024. aasta I poolaasta konsolideeritud müügitulu oli kokku 7,4 miljonit eurot ja puhaskahjum 1,5 miljonit eurot (sh…
The consolidated sales revenue of Hepsor AS amounted to 5.2 million euros in the second quarter of 2024 and the net loss was 0.56 million euros (including a net loss attributable to the owners of the parent of 0.65 million…
Extraordinary General Meeting (hereinafter the “General Meeting”) of Baltic Horizon Fund unit-holders and Swedish Depositary Receipt (hereinafter the “SDR”) holders (hereinafter together the “Investors”) took place on 2 July 2024 in Tallinn, Estonia. As announced to the market on 2…
On 25 June 2024, AS Merko Ehitus Eesti, part of AS Merko Ehitus group, signed an addendum for the additional works under the construction contract with Jalaka Kinnisvara OÜ, with which the value of the previously concluded construction contract exceeded…
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 extraordinary General Meeting (hereinafter the “General Meeting”) of Baltic Horizon Fund on 2 July 2024 at…
Hepsor AS’i tütarettevõte Kanadas, Hepsor SPV I Ltd, tegi oma kolmanda investeeringu Kanada kinnisvaraturul. Koostöös Elysium Investments Inc.’ga (Elysium) omandati 7 kinnistut Toronto kesklinna Leaside’i piirkonnas aadressil 17-29 Glenavy Avenue, eesmärgiga arendada sinna tulevikus elukondlik rendikorteritega kõrghoone. Kinnistu arendamiseks loodi…
Hepsor SPV I Ltd, a Ontario-based subsidiary of Hepsor AS, made its third investment in the Canadian real estate market. An assembly of 7 properties was acquired in the much desired midtown Toronto neighborhood of Leaside, at 17-29 Glenavy Avenue,…
The sole shareholder of SIA Merks Mājas, part of AS Merko Ehitus group, decided to appoint Mr. Roberts Rēboks as a Member of the Management Board of the company, starting from 6 June 2024. Mr. Roberts Rēboks replaces in the…
MANAGEMENT REPORT Real Estate Development In 2024, we are continuing the construction and sales activities of the last stage of Kalaranna 8, Tallinn. The final stage consists of 4 residential buildings with 146 apartments and 4 commercial units which, upon…
On 23 May 2024 entered into force a contract signed between UAB Merko Statyba, part of AS Merko Ehitus group, and UAB Telšių vėjo parkas, for performing the construction works of the wind farm balance of plant in Telšiai district…
EfTEN Real Estate Fund AS earned a consolidated rental income of 2,545 thousand euros in April, which is at the same level as in March. The Fund’s consolidated EBITDA for April was 2,175 thousand euros, i.e., 41 thousand euros more…
