The Management Board of EfTEN Real Estate Fund III AS (registry code 12864036; seat Tallinn, A. Lauteri 5) calls the extraordinary general meeting of shareholders on 15 December 2022 at 10:00. Venue of the general meeting: Radisson Collection Hotel second floor conference centre…
Northern Horizon Capital AS is planning a sustainability-linked bond programme of Baltic Horizon Fund in a total amount of up to 50 million euros to be issued in one or several series over the next 12 months. The offering of…
Hepsor AS has started the process of establishing a subsidiary in Canada. A new entity recently founded in Estonia will hold a share in the Canadian subsidiary of Hepsor. The purpose of establishing a subsidiary in Canada is to enter…
MANAGEMENT REPORT CEO summary The third quarter of 2022 continued the trend we have seen in Q2, with a strong demand for real estate assets in the Baltic countries (particularly Estonia and Lithuania). The market still seems resilient, despite the…
In the third quarter, Estonia’s labor market was still strong. The number of the employed set a record, amounting to 680,000 persons, up by 3.4% in a year. The number of the employed increased in the private sector but remained…
Arco Invest EOOD, subsidiary of Arco Vara AS, has concluded a preliminary contract for sale of the commercial building Madrid BLVD in the capital of Bulgaria. The transaction costs 9.1 million euros and the final sales document will be signed…
On 15 November 2022, Hepsor N170 OÜ, an associated company of Hepsor AS, and Priisle 1 OÜ signed a sale-purchase contract under law of obligations for the sale of approximately 1,500 sq.m of commercial space at Priisle 1a, the real…
AS Nordecon group company Embach Ehitus OÜ and Viljandi Town Government signed a contract for the construction of the Karlsson kindergarten building and territory located at Kesk-Kaare 19 in the city of Viljandi. The cost of the contract is 5.1…
Management Board of Northern Horizon Capital AS has approved the unaudited consolidated interim financial statements of Baltic Horizon Fund (the Fund) for the first nine months of 2022. Net result and net rental income The Group recorded a net profit…
Due to procurator Ando Voogma leaving Nordecon AS as of 30 December 2022, the supervisory board of Nordecon AS decided to terminate the proxy as of the same date. Nordecon (www.nordecon.com) is a group of construction companies whose core business…
Despite the difficult economic environment, the group’s 9-month result is characterized by an increase in sales revenue and operating profit. Results for the Buildings and Infrastructure segments differ significantly. Although the profitability of the Buildings segment decreased in the 3rd…
COMMENTARY FROM MANAGEMENT Merko Ehitus revenue was EUR 110 million in Q3 2022 and the revenue for the first nine months of the year amounted to EUR 266 million, while the respective figures for net profit were EUR 9.8 million…
rThe consolidated sales revenue of Hepsor for the first nine months of 2022 amounted to 5.6 million euros (including 1.7 million euros in Q3 2022) and the net loss was 0.1 million euros (including a net profit of 0.1 million…
On 19 October 2022, AS Merko Ehitus Eesti, part of AS Merko Ehitus group, signed a contract with Centre for Defence Investment for the construction of new buildings in the Tapa campus of the Defence Forces in Lääne-Viru County. The…
Northern Horizon Capital AS hereby announces the public offering of up to 119,635,429 of Baltic Horizon Fund’s („Fund“) Swedish Depository Receipts (the “SDR”) in Sweden (the „SDR Offering“) ended at 12:00 CEST on 17 October 2022. In total, 22,599,522 units…
