Housing affordability has bottomed out. Interest rates for new loans likely peaked in the fourth quarter. The sustained rapid net wage growth is the key factor in the recovery of affordability. Housing affordability finally started to improve in Riga and…
In February, EfTEN Real Estate Fund AS consolidated rental income was 2,551 thousand euros, an increase of 9 thousand euros from January. The Fund’s consolidated EBITDA for February was 2,158 thousand euros, decreasing by 9 thousand euros from January. Over…
Inflation falls, but slower than expected; manufacturing keeps struggling, services show signs of recovery No policy changes are expected this week, all eyes will be on the revisions of macroeconomic projections There were no significant changes in economic developments since…
MANAGEMENT REPORT CEO summary In 2023 we have been in line with the Company’s history, by having focus on the main areas of activities in real estate developments in the three Baltics capitals (Tallinn, Riga and Vilnius) and the hotel…
Management Board of Northern Horizon Capital AS has approved the unaudited consolidated interim financial statements of Baltic Horizon Fund (the Fund) for the twelve months of 2023. Leasing activity Throughout 2023, the Fund secured important lease extensions with anchor tenants…
GROUP CEO’S REVIEW In spite of the times with low sunlight, the team of Arco Vara showed excellent results in Q4. We got to enjoy the fruits of our extensive work and our customers got acquainted with the high level…
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…
In January, EfTEN Real Estate Fund AS consolidated rental income was 2,541 thousand euros. The month prior, in December 2023, the fund earned 2,779 thousand euros in rental income, which included the year-end turnover rents from shopping centers totaling 211…
EfTEN United Property Fund earned 60 thousand euros of revenue in 2023 (1.67 million in 2022). While interest income increased by 228 thousand euros and dividend income by 150 thousand, the decrease in total income was related to the non-monetary…
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…
Economic environment The construction market has experienced rapid evolution in recent years, with notable trends emerging in 2023 following developments that began in 2022. These shifts have profoundly impacted companies within the construction sector. Persistently high inflation and interest rates…
Baltic Horizon Fund publishes interest rate applicable to the fund’s 5-year bonds (ISIN: EE3300003235) for the next 3-months interest period which starts on 8 February 2024. The annual interest rate applicable to the bonds for the interest period as referred…
LHV Pank updated the equity research and price target of EfTEN Real Estate Fund AS (EfTEN; EFT1T) shares. According to the analysis, the price target for the share remains unchanged in the range of 19,0 to 20,1 euros and the…
In Q4 2023, Estonia’s GDP dropped 3.0% y/y in real terms and remained on the same level compared to the previous quarter (swda), according to the flash estimate of Statistics Estonia. Estonian GDP contracted 3.5% y/y (swda) and 3.4% (non-adjusted)…
The main keyword for 2023 was the fastest interest rate increase in the 25-year history of the Eurozone. The consolidated interest expense of EfTEN Real Estate Fund AS increased almost twice compared to a year ago in relation to EBITDA,…
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