On 9 February 2023 UAB Merko Statyba, part of AS Merko Ehitus group, and UAB Energijos Žara, 100% subsidiary of Enefit Green AS, part of AS Eesti Energia group, entered into a contract for the construction of electrical substation for…
COMMENTARY FROM MANAGEMENT Merko Ehitus revenue was EUR 143 million in Q4 2022, and the revenue for 12 months amounted to EUR 410 million, while the respective figures for net profit were EUR 17.6 million and 12 months was EUR…
Baltic Horizon Fund (the Fund) signed yesterday, 8 February 2023, following the end of the Nasdaq trading day, an agreement with UAB “PREF III” to sell 100% shares of BH Domus PRO UAB which owns Domus Pro office building and…
The EfTEN United Property Fund earned 1,68 million euros in revenue (0,8 million euros in 2021) and 1,44 million euros in net profit (0,78 million euros in 2021) in 2022. In the 4th quarter of 2022 revenues amounted to 0,33 million…
The economy heat index (EHI) rose rapidly over 2022. Rapid post-pandemic recovery and economic stimulus led to a strong growth in demand and a labour market recovery. Meanwhile, war-induced disruptions and energy shock adversely affected the supply side. Strong demand,…
The owner of Europa Shopping Centre in Vilnius, BH Europa UAB, an SPV of Baltic Horizon real estate fund, signed and closed a real estate sale and purchase agreement with UAB “Prime Location Property Fund” on Friday, 30 December 2022,…
On 23 November 2022, UAB Merko Statyba, part of AS Merko Ehitus group, and North Atlantic Treaty Organization (NATO) Support and Procurement Agency entered into a contract for the construction works of training center buildings in Vilnius, Lithuania. The contract…
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…
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…
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…
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…
UAB Merko Būstas, part of AS Merko Ehitus group, has started the construction of the third stage of the Vilneles Skverai residential project (merko.lt/vilnelesskverai/), located on the outskirts of the Old Town of Vilnius. The new stage includes eight apartment…
The housing affordability index (HAI) slipped as abnormal price growth gained momentum. Falling affordability and purchasing power, as well as bleak expectations, are likely to curb demand and stifle price growth. The record-high housing affordability that we have seen over…
On 14 September 2022, a contract entered into force between UAB Merko statyba, part of AS Merko Ehitus group, and UAB “VEVP“, part of European Energy A/S group, for the construction of wind turbine foundations for the wind farm in…