Management Board of Northern Horizon Capital AS has approved the unaudited financial results of Baltic Horizon Fund (the Fund) for the nine months of 2024. Our strategic ambitions Over the past year, our focus has been on reshaping our strategy to…
In the third quarter of this year, the downward trend in the construction market did not experience a significant shift. Forward-looking indicators that characterize both the construction market and the broader macroeconomic environment are contradictory, making it difficult to predict…
COMMENTARY FROM MANAGEMENT Merko Ehitus revenue for the 9 months of 2024 was EUR 379 million and net profit was EUR 44.8 million. Third-quarter revenue was EUR 175 million; net profit EUR 27.3 million. Sales of construction services made up…
The net asset value (NAV) of EfTEN United Property Fund unit was 10.66 euros at the end of August, increasing by 0.1% over the month. The somewhat smaller-than-usual increase in NAV was related to the investment into the listed fund…
The management board of EfTEN Real Estate Fund AS presented to the supervisory board a proposal for issuing new shares, the purpose of which is to finance new planned acquisitions. The volume of the issue is initially planned to be…
The divergent development across countries and sectors has continued this year. Boosted by household consumption, the US economy has grown at a solid pace so far this year, albeit somewhat slower than in 2023. Following a longer period of stagnation,…
Housing affordability improved in Tallinn and Vilnius, while remained nearly unchanged in Riga. The ECB cut its interest rates by 25 basis points in June; further cuts will continue supporting affordability. As expected, the ECB cut its interest rates in…
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…
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…
AS Merko Ehitus adjusts the structure of the group with the aim of making the country-based management more effective and strengthening the focus on core activities, i.e. the provision of construction services and real estate development. On 1 August 2024…
Estonian household consumption has been declining since the second half of 2022 and is still falling; however, real wages started to grow in the second half of 2023. Meanwhile, household confidence is at the level last seen during the Global…
AS Pro Kapital Grupp announces that it has decided to elect Neringa Rasimavičienė, member of the Management board of the group’s Lithuanian subsidiary, as the second member of the AS Pro Kapital Grupp Management Board as of 01.06.2024. “I am…
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…
Housing affordability improved in all Baltic capitals. ECB interest rate cuts now are less than a month away. Housing affordability continued increasing in Riga and Vilnius, and it started to increase in Tallinn as well, leaving behind the lowest point…
Management Board of Northern Horizon Capital AS has approved the unaudited financial results of Baltic Horizon Fund (the Fund) for the three months of 2024. Our strategic ambitions Over the past year, our focus has been on reshaping our strategy to…