On 31 August 2022, Tallinna Teede AS, part of AS Merko Ehitus group, and Tallinn Urban Environment and Public Works Department entered into a framework agreement covering the performance of maintenance repairs of roads, facilities necessary for the functioning of…
AS Pro Kapital Grupp subsidiary company in Lithuania purchased via auction the Vilnius College building, located in the very centre of the capital city, on Naugarduko street. The acquisition deal, valued at €6.25 million, was completed on August 30th. The…
AS Merko Ehitus Eesti, part of AS Merko Ehitus group, has decided to launch the construction of Tihase residential development project, within which the apartment buildings with a total of 46 apartments and three commercial premises will be built on…
Hepsor 3TORNI OÜ, Hepsor AS group company, and Mitt & Perlebach OÜ signed a construction agreement for the construction of Ojakalda Kodud development project on the border of Tallinn and Harku, on 25 August 2022. The value of construction agreement…
Although average wage growth accelerated to 10.1% in the second quarter, it comforts consumers little when inflation was 20.2%. The average wage rose rapidly in all economic sectors. Wages grew the most in accommodation and catering (+18.6%, over the year),…
Inflation has so far proven to be both higher and more persistent than previously expected, and central banks were late in taking away the punch bowl. Households around the globe are holding back on consumption as the cost-of-living shock hits…
MANAGEMENT REPORT CEO summary The second quarter of 2022 continued the trend we have seen in Q1, with a strong demand for real estate assets in the Baltic countries (particularly Estonia and Lithuania). Our available inventory is mainly sold, but…
In the second quarter, the situation in the labor market was still good in Estonia. Employment was high and unemployment low. According to Statistics Estonia, in the second quarter, the unemployment rate was 5.8% and the number of the employed…
AS Pro Kapital Grupp informs that it is redeeming 6 900 “EEK 7.00 PRO KAPITAL GRUPP CONV. BOND PKG3 10-2020” convertible bonds (with ISIN EE3300108711) in total nominal value of 69 000 Estonian kroons and issue value of 19 320…
Management Board of Northern Horizon Capital AS has approved the unaudited consolidated interim financial statements of Baltic Horizon Fund (the Fund) for the six months of 2022. Distributions to unitholders for Q1 2022 and Q2 2022 Fund results On 28…
Despite the continued difficult external environment, the second quarter and first half of 2022 were overall profitable for the group. The increase in sales revenue also continued, which is largely based on the fulfillment of construction contracts concluded in previous…
COMMENTARY FROM MANAGEMENT Merko Ehitus revenue was EUR 88 million in Q2 2022, and EUR 156 million in H1 2022, while the respective figures for net profit were EUR 4.2 million and EUR 7.2 million. This year, Merko has delivered…
The consolidated revenues of Hepsor for the first six months of 2022 amounted to 4.0 million euros (including 2.7 million euros in Q2 2022) and a net loss of 0.3 million euros (including 0.3 million euros in Q2 2022). The…
The net asset value (NAV) of the EfTEN United Property Fund was 10.82 euros as of June 30, 2022, increasing by 1.8% over the month. Since the start of the fund in June 2021, the NAV of the fund has…
Decision on quarterly cash distribution Northern Horizon Capital AS as the management company of Baltic Horizon Fund has approved a cash distribution of approx. 1.17% of Baltic Horizon Fund’s Q2 2022 weighted average net asset value to its unitholders. This…
