The average gross wage growth accelerated to 9.2% in the fourth quarter of last year, reflecting a strong labour market, unaffected by a large decline in GDP volumes. Wage growth was vigorous and broad-based. The average wage rose the most…
MANAGEMENT REPORT CEO summary 2022 has been a year to remember for AS Pro Kapital Grupp. The Estonian Chamber of Commerce awarded us the price as the most competitive real estate company in Estonia. The Competitiveness Ranking is a part…
The net asset value (NAV) of the EfTEN United Property Fund was 10,85 euros as of January 31, 2023, increasing by 0,3% over the month. Since the start of the fund in late June 2021 the total return has been…
Management Board of Northern Horizon Capital AS has approved the unaudited consolidated interim financial statements of Baltic Horizon Fund (the Fund) for the twelve months of 2022. Net result and net rental income In 2022, the Group recorded a net…
The net asset value (NAV) of the Baltic Horizon Fund (the Fund) unit at the end of January 2023 amounted to EUR 1.1176 per unit. Compared to the previous month, NAV per unit increased by 0.03%. The total net asset…
GROUP CEO’S REVIEW Looking back on the real estate market of the previous quarter, the only word to describe it is “expectant”. Buyers seem to expect for sales prices of real estate to drop and sellers for the increase of…
On 14 February 2023, UAB Merko Statyba, part of AS Merko Ehitus group, and North Atlantic Treaty Organization (NATO) Support and Procurement Agency entered into a contract for design and build services for the construction of new infrastructures for the…
The consolidated sales revenue of Hepsor for the 2022 financial year amounted to 12.9 million euros (including 7.2 million euros in Q4 2022) and the net profit was 1.3 million euros (including a net profit of 1.5 million euros in Q4 2022).…
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…
In January, annual inflation accelerated somewhat due to less generous energy support package from the government compared to one year ago and because of a larger share of the housing component in the consumer basket this year after the yearly…
Fund manager’s comment on the 2022 financial results In 2022, major changes took place in the European and Baltic commercial real estate market. The rapid acceleration of the inflation rate prompted the central banks to end the so-called zero interest…
The net asset value (NAV) of the EfTEN United Property Fund was 10,82 euros as of December 31, 2022, decreasing by 2,2% over the month due to a cash distribution to investors. Excluding the distribution, the NAV of the fund…
AS Pro Kapital Grupp (Pro Kapital) has signed on 26 April 2022 a preliminary agreement with an intention to buy 100% of the shares of P.K. Sicily S.P.A. (registered office in Milan, Italy), which owns and operates hotel Domina Zagarella…