Summus Capital OÜ has released its consolidated financial results for the third quarter of 2025, highlighting stable financial performance, a strong balance sheet and continued portfolio optimization across the Baltic region and Poland.
In the third quarter of 2025, the Group’s consolidated sales revenue totalled EUR 13.3 million, reflecting a 1.8% quarter-on-quarter decrease, partly due to the earlier disposal of the Punane 56 property in May. Consolidated operating profit amounted to EUR 8.9 million, down from EUR 9.3 million in the previous quarter, which had included one-off income from the property sale. Consolidated net profit reached EUR 3.3 million, of which EUR 3.1 million was attributable to Summus Capital equity holders.
The consolidated balance sheet remained stable at EUR 557.8 million (2Q2025: EUR 558.4 million). The consolidated cash balance increased slightly to EUR 39.8 million (2Q2025: EUR 39.2 million), supported by disciplined financial management and cash inflows from refinancing activities. Consolidated loans and borrowings from financial institutions and bonds decreased marginally to EUR 316.7 million (2Q2025: EUR 317.9 million), reflecting regular debt servicing and adjustments from the renegotiation of two bank loans. These refinancings extended maturities, improved margins, and included a EUR 1.3 million increase in the loan for the Depo DIY property, now maturing in August 2030.
Total consolidated liabilities stood at EUR 360.4 million (2Q2025: EUR 362.0 million), while consolidated owner’s equity increased to EUR 197.4 million (2Q2025: EUR 196.4 million), of which EUR 186.8 million was attributable to Summus Capital’s equity holders.
During the third quarter, Summus Capital successfully listed its new bonds on the Nasdaq Baltic Bond List, following the company’s first public bond issue completed in June. The Group also continued preparations to optimize its portfolio: after the reporting period, the disposal of companies owning Auriga and Damme shopping centres in Estonia and Latvia was finalized, and the acquisition of the Libero shopping centre in Poland was completed, further strengthening Summus Capital’s presence in the Polish market.
Scope Ratings GmbH reaffirmed its BB/Stable issuer rating for Summus Capital OÜ in September and maintained the BB rating for its senior unsecured debt, reflecting the Group’s resilient operating performance and prudent financial management.
“During the third quarter, we continued to execute our strategy of sustainable growth and active portfolio management,” said Aavo Koppel, Member of the Board of Summus Capital. “The affirmation of our rating by Scope highlights the strength and resilience of our portfolio as well as the success of our entry into the Polish market. With a high occupancy rate and long lease terms, our diversified portfolio continues to provide a solid foundation for sustainable growth”
The Group remained fully compliant with all bond terms. The equity-to-total-assets ratio stood at 35%, exceeding the minimum requirement of 30%, while the Debt Service Coverage Ratio (DSCR) on a trailing 12-month basis was 1.33x, comfortably above the required 1.2x.
