MANAGEMENT REPORT Chairman’s summary The fourth quarter of 2021 has confirmed the positive trend seen in the previous quarter. The overall market is healthy and we are seeing a solid and steady demand for our projects. The construction market still…
The main business activity of Trigon Property Development AS is real estate development. As at 31.12.2021, AS Trigon Property Development owned one development project with an area of 14.29 hectares in the City of Pärnu, Estonia. An industrial and logistics…
Unaudited financial results of Hepsor AS for 12 months and Q4 2021 Hepsor AS consolidated sales revenue for the 2021 financial year amounted to 15 million euros and its net profit was 1.7 million euros (including 0.02 million euros attributable…
Labor shortages are severe, especially in construction. Wage growth will accelerate this year. The net salary of Swedbank’s customers has increased by 8 percent year-on-year in recent months. The unemployment rate fell from 5.7% in the third quarter to 5.2%…
GROUP CEO’S REVIEW Due to the cyclical nature of real estate development, Q4 of 2021 had a predictably low sales volume and the focus was on preparing new projects. Across 12 months, the current team of Arco Vara has raised…
On 17.02.2022 AS Trigon Property Development and Altius Capital OÜ concluded a real right agreement on sale of real estate property belonging to AS Trigon Property Development. The land sold was a part (5330/32074 or 5 330 m2) of Arukase…
Management Board of Northern Horizon Capital AS (the Management Company) has approved the unaudited consolidated interim financial statements of Baltic Horizon Fund (the Fund) for the twelve months of 2021. G4S office building disposal On 8 November 2021, Baltic Horizon…
COMMENTARY FROM MANAGEMENT Fourth-quarter revenue for Merko Ehitus was EUR 112.8 million and net profit for the same period was EUR 13.9 million. The revenue for the 12 months of 2021 grew by 7% compared to the previous year to…
The key words for 2021 are the rapid recovery of the construction market volumes that fell in 2020 and the sharp rise in input prices, which put strong pressure on the cost of previously concluded long-term construction contracts. The whole…
Consumer prices rose by 11.3% in a year and -0.1% in a month in Estonia. Although electricity and gas prices fell compared to December, food prices rose significantly. Food prices showed such a rapid month-on-month growth rate previously 15 years…
Northern Horizon Capital AS as the management company of Baltic Horizon Fund (the Fund) has approved a cash distribution of approx. 1.79% of the Fund’s Q4 2021 weighted average net asset value to its unitholders. This equals approx. EUR 2.27…
2021 was a good year for the Baltic economies – GDP grew rapidly, domestic demand recovered, and the labour market followed. Economic temperature ticked up in all three Baltic states and is already approaching the long-run average. Heat is building…
On 28 December 2021 Hepsor Latvia OÜ, a subsidiary of Hepsor AS, signed a contract under law of obligation to acquire a property of 30,624 m2 in Ganibu Dambis 17A, City of Riga. The property has 13 buildings of different…
The net asset value (NAV) of EfTEN Real Estate Fund III AS was 19,1057 euros as of 31 December 2021, increasing by 4.2% during December. The net asset value of the EPRA share (net book value excluding the deferred income…
Prices increased by 12.2%, over the year, in December. Inflation reached 12% last time in the 1990s. More than half of the price increase came from higher energy prices, mainly electricity. The rise in consumer prices is expected to accelerate…