Börsiteade
Hepsor AS
Kategooria
Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
Kuupäev
14.02.2024 07:00:00
Pealkiri
Hepsor ASi 2023. aasta IV kvartali ja 12. kuu konsolideeritud auditeerimata vahearuanne
Teade
Hepsori 2023. aasta konsolideeritud müügitulu ulatus 41,1 miljoni euroni ja puhaskasumiks kujunes 3,5 miljonit eurot (sh emaettevõtte omanikele kuuluv osa 1,2 miljonit eurot). 2023. aasta neljanda kvartali müügitulu kokku oli 5,1 miljonit eurot ja puhaskahjum 1,3 miljonit eurot (sh emaettevõtte omanikele kuuluv osa kahjumist oli 1,1 miljonit eurot). Kontserni juhtkond korrigeeris 2023. aasta kolmandas kvartalis 2023. ja 2024. majandusaasta prognoose. 2023. aasta konsolideeritud müügitulu kujunes prognoosist 0,3 miljoni euro võrra suuremaks ning konsolideeritud kasum prognoositust 0,8 miljoni euro võrra väiksemaks ning seejuures emaettevõtte osa konsolideeritud kasumist 0,3 miljoni euro võrra väiksemaks. Tegelikele tulemustele avaldas prognoosiga võrreldes suurimat mõju arendusprojektidest planeeritud tulu, mille laekumine lükkus 2023. aasta neljandast kvartalist edasi 2024. aasta esimesse poolde. Lisaks mõjutas 2023. aasta tulemust võrreldes prognoosiga oodatust suurem valuutakursi kahjum (Kanada dollari nõrgenemine euro suhtes). Kontserni 2023. aasta puhaskasumile avaldas erakorralist negatiivset mõju arvestuslik kahjum Büroo 113 ärihoone ümberhindlusest, mis tuleneb hoone ajutisest suurest vakantsist, mille omakorda põhjustas hoones tegutsenud kliiniku maksejõuetusest põhjustatud üürilepingu ülesütlemine üürileandja poolt. Lõppenud arendusprojektid - 2023. aasta jooksul anti klientidele üle kokku 274 uut kodu (asjaõiguslepingute arv) Paevälja hoovimajade ja Lilleküla Kodude projektist Tallinnas ning Kuldigas Parks, M?rupes D?rzs ning Str?lnieku 4b projektides Riias. Kuldigas Parks projektis said aasta lõpuga kõik kodud müüdud. Ärikinnisvara osas müüsime teises kvartalis Riias asuva Ulbrokas 30 kinnistu koos Hepsori poolt arendatud StokOfiss 30 ärihoonega ning Tallinnas asuvad Tooma tänava kinnistud. Lisaks valmis teise kvartali lõpuks Tallinnas rohelise mõtteviisiga Grüne Maja, mille viimased pinnad anti perioodi lõpuks üürnikele üle. Büroohoone on neljanda kvartali lõpu seisuga 100% üürilepingutega kaetud. Sidusettevõttena kajastatud Büroo 113 puhul pidi Hepsor septembri alguses üürniku poolse üürilepingu rikkumise tõttu üürilepingu ühepoolselt üles ütlema, mille tulemusena vabanes ca 3 500 m2 äripinda. Büroo 113 kontekstis oleme keskendunud läbirääkimistele uute üürnikega, huvi ja läbirääkimiste hulk on igati arvestatav. Paralleelselt on pooleli kohtuvaidlus endise üürnikuga. Ehituses ja müügis olevad arendusprojektid - 2023. aastal on Hepsoril ehituses neli elukondlikku arendusprojekti kokku 329. korteriga - Ojakalda Kodud (101 korterit) ja Manufaktuuri 7 (150 korterit ning 453 m2 äripinda) Tallinnas ning Nameja Rezidence (38 korterit) ja Annenhof Majas (40 korterit) Riias. Nende projektide valmimine on plaanitud 2024 aastasse ning enamus müügitulu kajastatakse samuti 2024. aastal, kuid võlaõiguslikke lepinguid ja kirjalikke broneeringuid on nimetatud nelja projekti peale sõlmitud 31. detsember 2023 seisuga 135-le korterile (41%). Uued projektid Tallinnas ja Riias - Hepsor omandas augustis 2023 uued kinnistud Lätis soetades 50% SIA "Riga Properties 4" osadest. Eesmärk on Riia lähistel Dreilini piirkonnas asuvatele kinnistutele arendada etapiviisiliselt 40 000 m2 äripindasid. Kinnistud asuvad atraktiivses piirkonnas, kus juba paiknevad IKEA kauplus ja SAGA ostukeskus. Hepsor AS 50%-line tütarettevõte Hepsor VT49 OÜ omandas novembris 2023 kaks kinnistut Harju maakonnas Rae vallas. Ostetud kinnistutel on olemas detailplaneering, mis lubab sinna rajada 4 500 m2 üüritava pinnaga ärihoone. Hepsor Kanadas - Hepsor alustas oma Kanada ärisuuna arendamisega 2022. aasta kevadel pärast Venemaa sõjalise sissetungi algust Ukrainasse eesmärgiga leida uusi kasvuvõimalusi ning hajutada praeguste koduturgudega seotud geopoliitilisi riske. Kahe aastaga on Kanadas ülesehitatud äri alustamiseks vajalik koostöövõrgustik alates juriidilistest- ja finantsnõustajatest ning lõpetades pankade, turuanalüüsi- ning maaklerettevõtetega. 2023. aasta lõpuks on koos Kanada koostööpartneritega tehtud kaks investeeringut. Juunis 2023 soetati kinnistu aadressil 3406-3434 Weston road ning septembris 2023 3 kõrvutiasuvat elukondlikuks arenduseks sobivat kinnistut Toronto kesklinnas, aadressil 164 - 168 Isabella street eesmärgiga ostetud kinnistuid väärindada. Kinnistute arendamiseks asutati ettevõtted Weston Limited Partnership ja Elysium Isabella Limited Partnership. Mõlema projekti puhul võtab maa väärtustamise faas eelduslikult aega 2-2,5 aastat, misjärel Weston Limited Partnership ja Elysium Isabella Limited Partnership otsustavad, kas saavutatud ehitusõigus realiseeritakse läbi kinnistu edasimüügi või liigutakse projektidega edasi ehitusfaasi. Kokkuvõte ja tulevikuvaade Kontsernile tervikuna oli 2023. aastal kasumlik vaatamata jätkuvalt keerulisele majanduskeskonnale ning kõrgel püsivatele intressimääradele. Head meelt tunneme ka selle üle, et vaatamata globaalsetele, geopoliitilistele- ja majanduslikele tõmbetuultele, on Hepsori meeskond kõigil koduturgudel keskmisest keerukamatel aegadel teinud head tööd ning hoidnud meie ettevõtte vundamendi tugeva ning jäätkusuutlikuna. Oma panuse võiks tulevikku vaatavalt anda Kanada ärisuuna käivitamine 2023. aastal. 2024. aastal soovime alustada vähemalt kolme uue projekti ehituse ja müügiga. Lätis plaanime alustada kahe projekti ehituse ja müügiga - Ulbrokas 34 ärihoone üüritava pinnaga ca 9 000 m2 ja Zala Jugla projekt 105 uue koduga. Tallinnas, Manufaktuuri kvartalis, kavandame järgmise etapi ehitust ja müüki aadressil Manufaktuuri 5. Rekonstrueerime endise Balti Puuvilla Ketramise ja Kudumise Vabriku peahoone A energiklassi hooneks, kuhu rajame äärmiselt omanäolised kõrgete lagedega ning maakütte- ja jahutusega energitõhusad kodud ja äripinnad. Projekti müügiga stardime juba 2024 I kvartalis. Oleme Hepsoris endiselt mõõdukad optimistid ning vaatame kinnisvaraäri kui pikaajalist protsessi. Soovime projekte käivitada ja arendada, analüüsides riske ning võimalusi, alati üle turutsüklite. Kogu neljanda kvartali ja 2023. a 12. kuu konsolideeritud auditeerimata vahearuandega saab tutvuda siin: https://hepsor.ee/investorile/aktsia/aruandedjaesitlused/ (https://www.globenewswire.com/Tracker?data=z0GzBMhyyFbKCstyyonev09OSStdA_h0TtEk 54OVoOCD0i1n00epsCHxYYLnQ07OMoV-xm8BKriRQDJwaqBj_7YN2S1- 1Yg2o1Nx_zrJPMx4_KwiMk6juDw4YFpiKuXi9VKwEiDP6DC_zObSvWuud5nlGWL9lri6TEfNBhGZ6T1w L2UwBBK_oRHdXgDNaRbz) Konsolideeritud finantsseisundi aruanne: +---------------------------------------------------+------------+------------+ | tuhandetes eurodes | 31.12.2023 | 31.12.2022 | +---------------------------------------------------+------------+------------+ | Varad | | | +---------------------------------------------------+------------+------------+ | Käibevarad | | | +---------------------------------------------------+------------+------------+ | Raha ja raha ekvivalendid | 7 604 | 3 754 | +---------------------------------------------------+------------+------------+ | Nõuded ja ettemaksed | 1 544 | 1 731 | +---------------------------------------------------+------------+------------+ | Lühiajalised laenunõuded | 311 | 0 | +---------------------------------------------------+------------+------------+ | Varud | 77 439 | 69 760 | +---------------------------------------------------+------------+------------+ | Käibevarad kokku | 86 898 | 75 245 | +---------------------------------------------------+------------+------------+ | Põhivarad | | | +---------------------------------------------------+------------+------------+ | Materiaalne põhivara | 162 | 232 | +---------------------------------------------------+------------+------------+ | Immateriaalne põhivara | 4 | 7 | +---------------------------------------------------+------------+------------+ | Finantsinvesteeringud | 1 992 | 2 | +---------------------------------------------------+------------+------------+ | Investeeringud sidusettevõtetesse | 0 | 1 086 | +---------------------------------------------------+------------+------------+ | Pikaajalised laenunõuded | 1 729 | 1 766 | +---------------------------------------------------+------------+------------+ | Muud pikaajalised nõuded | 203 | 30 | +---------------------------------------------------+------------+------------+ | Põhivarad kokku | 4 090 | 3 123 | +---------------------------------------------------+------------+------------+ | Varad kokku | 90 988 | 78 368 | +---------------------------------------------------+------------+------------+ | Kohustised ja omakapital | | | +---------------------------------------------------+------------+------------+ | Lühiajalised kohustised | | | +---------------------------------------------------+------------+------------+ | Lühiajalised laenukohustised | 40 600 | 22 565 | +---------------------------------------------------+------------+------------+ | Lühiajalised rendikohustised | 40 | 46 | +---------------------------------------------------+------------+------------+ | Ettemaksed klientidelt | 2 620 | 3 054 | +---------------------------------------------------+------------+------------+ | Võlad tarnijatele ja muud võlad | 7 188 | 4 007 | +---------------------------------------------------+------------+------------+ | Lühiajalised kohustised kokku | 50 448 | 29 672 | +---------------------------------------------------+------------+------------+ | Pikaajalised kohustised | | | +---------------------------------------------------+------------+------------+ | Pikaajalised laenukohustised | 16 305 | 26 015 | +---------------------------------------------------+------------+------------+ | Pikaajalised rendikohustised | 29 | 68 | +---------------------------------------------------+------------+------------+ | Muud pikaajalised kohustised | 2 058 | 2 290 | +---------------------------------------------------+------------+------------+ | Pikaajalised kohustised kokku | 18 392 | 28 373 | +---------------------------------------------------+------------+------------+ | Kohustised kokku | 68 840 | 58 045 | +---------------------------------------------------+------------+------------+ | Omakapital | | | +---------------------------------------------------+------------+------------+ | Aktsiakapital | 3 855 | 3 855 | +---------------------------------------------------+------------+------------+ | Ülekurss | 8 917 | 8 917 | +---------------------------------------------------+------------+------------+ | Reservkapital | 385 | 0 | +---------------------------------------------------+------------+------------+ | Jaotamata kasum | 8 991 | 7 551 | +---------------------------------------------------+------------+------------+ | Omakapital kokku | 22 148 | 20 323 | +---------------------------------------------------+------------+------------+ | sh emaettevõtte omanikele kuuluv omakapital kokku | 20 980 | 19 866 | +---------------------------------------------------+------------+------------+ | sh vähemusosanikele kuuluv omakapital kokku | 1 168 | 457 | +---------------------------------------------------+------------+------------+ | Kohustised ja omakapital kokku | 90 988 | 78 368 | +---------------------------------------------------+------------+------------+ Konsolideeritud koondkasumi aruanne: +------------------------+----------+----------+-----------+-----------------+ | | | | | | | | 12 kuud| 12 kuud| IV kvartal| Korrigeeritud IV| |tuhandetes eurodes | 2023| 2022| 2023| kvartal 2022| +------------------------+----------+----------+-----------+-----------------+ |Müügitulu | 41 135| 12 870| 5 087| 7 248| +------------------------+----------+----------+-----------+-----------------+ |Müüdud kaupade ja| | | | | |teenuste kulu (-) | -34 067| -11 096| -4 843| -5 996| +------------------------+----------+----------+-----------+-----------------+ |Brutokasum | 7 068| 1 774| 244| 1 252| +------------------------+----------+----------+-----------+-----------------+ |Turustuskulud (-) | -576| -446| -177| -167| +------------------------+----------+----------+-----------+-----------------+ |Üldhalduskulud (-) | -1 467| -1 095| -357| -331| +------------------------+----------+----------+-----------+-----------------+ |Muud äritulud | 166| 70| 54| 23| +------------------------+----------+----------+-----------+-----------------+ |Muud ärikulud (-) | -152| -68| -36| -23| +------------------------+----------+----------+-----------+-----------------+ |Ärikasum/-kahjum | 5 039| 235| -272| 754| +------------------------+----------+----------+-----------+-----------------+ |Finantstulud | 1 174| 1 889| 45| 1 040| +------------------------+----------+----------+-----------+-----------------+ |Finantskulud (-) | -2 746| -787| -1 084| -333| +------------------------+----------+----------+-----------+-----------------+ |Kasum enne tulumaksu | 3 467| 1 337| -1 311| 1 461| +------------------------+----------+----------+-----------+-----------------+ |Tasumisele kuuluv| | | | | |tulumaks (-) | 0| -6| 0| -1| +------------------------+----------+----------+-----------+-----------------+ |Edasilükkunud tulumaks| | | | | |(-) | 0| 0| 0| 0| +------------------------+----------+----------+-----------+-----------------+ |Aruandeperioodi | | | | | |puhaskasum | 3 467| 1 331| -1 311| 1 460| +------------------------+----------+----------+-----------+-----------------+ | Emaettevõtte| | | | | |omanikele kuuluv osa| | | | | |puhaskasumis/-kahjumis | 1 172| 1 396| -1 100| 1 537| +------------------------+----------+----------+-----------+-----------------+ | Vähemusosalusele| | | | | |kuuluv osa| | | | | |puhaskasumis/-kahjumis | 2 295| -65| -211| -77| +------------------------+----------+----------+-----------+-----------------+ | | | | | | +------------------------+----------+----------+-----------+-----------------+ | Muu koondkasum/- kahjum| | | | | +------------------------+----------+----------+-----------+-----------------+ |Omanikuvahetusega seotud| | | | | |muutused | 286| -26| 36| -161| +------------------------+----------+----------+-----------+-----------------+ |Vähemusosaluse varjatud| | | | | |tuletisinstrumentide | | | | | |väärtuse muutus | -2 053| 10| 104| -8| +------------------------+----------+----------+-----------+-----------------+ |Aruandeperioodi muu| | | | | |koondkasum kokku | -1 767| -16| 140| -169| +------------------------+----------+----------+-----------+-----------------+ | Emaettevõtte| | | | | |omanikele kuuluv osa muu| | | | | |koondkasumis/-kahjumis | -58| -434| -70| -200| +------------------------+----------+----------+-----------+-----------------+ | Vähemusosalusele| | | | | |kuuluv osa koondkasumis | -1 709| 418| 210| 31| +------------------------+----------+----------+-----------+-----------------+ | | | | | | +------------------------+----------+----------+-----------+-----------------+ |Aruandeperioodi | | | | | |koondkasum kokku | 1 700| 1 315| -1 171| 1 291| +------------------------+----------+----------+-----------+-----------------+ | Emaettevõtte| | | | | |omanikele kuuluv osa| | | | | |koondkasumis/-kahjumis | 1 114| 962| -1 170| 1 337| +------------------------+----------+----------+-----------+-----------------+ | Vähemusosalusele| | | | | |kuuluv osa| | | | | |koondkasumis/-kahjumis | 586| 353| -1| -46| +------------------------+----------+----------+-----------+-----------------+ | | | | | | +------------------------+----------+----------+-----------+-----------------+ |Kasum aktsia kohta | | | | | +------------------------+----------+----------+-----------+-----------------+ | Tava (eurot aktsia| | | | | |kohta) | 0,30| 0,36| -0,29| 0,40| +------------------------+----------+----------+-----------+-----------------+ | Lahustatud (eurot| | | | | |aktsia kohta) | 0,30| 0,36| -0,29| 0,40| +------------------------+----------+----------+-----------+-----------------+ Henri Laks Juhatuse liige Telefon: +372 5693 9114 e-post: henri@hepsor.ee (mailto:henri@hepsor.ee) ----------------------------------------------------- Hepsor AS (www.hepsor.ee (http://www.hepsor.ee/)) on üks kiiremini kasvavaid elu- ja ärikondliku kinnisvara arendajaid Eestis ja Lätis, kes tegutseb alates 2023. aastast ka Kanada kinnisvaraturul. Kaheteistkümne tegutsemisaasta jooksul oleme loonud üle 1600 kodu ja ligi 36 000 m(2) äripindasid. Hepsor on esimese arendajana Balti riikides rakendanud mitmeid uuenduslikke insener-tehnilisi lahendusi, mis muudavad ettevõtte rajatavad hooned energiasäästlikumaks ja seeläbi keskkonnasõbralikumaks. Ettevõtte portfellis on kokku 25 arendusprojekti kogupindalaga 171 800 m(2).
Pealkiri
Hepsor AS consolidated unaudited interim report for Q4 and 12 months of 2023
Teade
Hepsor's 2023 consolidated revenue amounted to 41.1 million euros, with a net profit of 3.5 million euros (including a share of 1.2 million euros for the parent company's owners). The consolidated revenue for the fourth quarter of 2023 was 5.1 million euros, and the net loss was 1.3 million euros (including a share of 1.1 million euros loss for the parent company's owners). The group management revised the forecasts for the financial years 2023 and 2024 in the third quarter of 2023. Consolidated sales revenue for 2023 exceeded the forecast by EUR0.3 million, while the consolidated profit fell short by EUR0.8 million compared to the forecast, with the parent company's share of the consolidated profit being EUR0.3 million lower than expected. The actual results were mainly impacted by the delay in revenue from development projects, which was expected to be received in the fourth quarter of 2023 but shifted to the first half of 2024. Additionally, a larger-than-expected foreign exchange loss (due to the weakening of the Canadian dollar against the euro) had an impact on the 2023 results compared to the forecast. The extraordinary negative impact on the group's net profit for 2023 was due to an accounting loss resulting from the revaluation of the Office 113 commercial building. This revaluation was prompted by a temporary increase in vacancy rates due to the insolvency of a clinic previously occupying the premises, leading to the termination of the lease agreement by the landlord. Completed development projects - During the 2023, a total of 274 new homes were handed over to customers (number of real rights contracts) from the Paevälja Courtyard Homes and Lilleküla Homes projects in Tallinn, as well as from the Kuldigas Parks, M?rupes D?rzs, and Str?lnieku 4b projects in Riga. By the end of the year, all homes in the Kuldigas Parks project were sold. In the commercial real estate segment, we sold the Ulbrokas 30 property with the StokOfiss 30 office building in Riga developed by Hepsor, and properties on Tooma Street in Tallinn in the second quarter. In addition, by the end of the second quarter, the environmentally friendly Grüne Maja in Tallinn was completed, with the last spaces handed over to tenants by the end of the period. As of the end of 2023, the office building is 100% covered with lease agreements. Regarding the associate company Büroo 113, Hepsor had to terminate the lease unilaterally in early September due to a breach of the lease agreement by a tenant, resulting in the availability of approximately 3,500 m2 of commercial space. In the context of Büroo 113, we have focused on negotiations with new tenants. Simultaneously, there is an ongoing legal dispute with the former tenant. Development projects under construction and available for sale - In 2023, Hepsor has four residential development projects with a total of 329 apartments under construction - Ojakalda Homes (101 apartments) and Manufaktuuri 7 (150 apartments and 453 m2 of commercial space) in Tallinn and Nameja Residence (38 apartments) and Annenhof Majas (40 apartments) in Riga. The completion of these projects is scheduled for 2024, and most of the revenue will also be recognized in 2024. However, as of December 31, 2023, contracts under law of obligations and written reservations have been made for a total of 135 apartments (41%) across these four projects. New Projects in Tallinn and Riga - In August 2023, Hepsor acquired new properties in Latvia by purchasing 50% of the shares of SIA "Riga Properties 4". The goal is to gradually develop 40,000 square meters of commercial space on the properties located in the Dreilini area near Riga. The properties are situated in an attractive area where IKEA store and SAGA shopping center are already located. Hepsor AS's 50% subsidiary, Hepsor VT49 OÜ, acquired two properties in Rae Parish, Harju County, in November 2023. The purchased properties have detailed planning permission, allowing for the construction of a commercial building with 4,500 square meters of leasable space. Hepsor in Canada - Hepsor initiated the development of its Canadian business line in the spring of 2022, following the start of Russia's military incursion into Ukraine, with the aim of finding new growth opportunities and mitigating geopolitical risks associated with current home markets. Within two years, a collaboration network necessary to start the business has been established in Canada, ranging from legal and financial advisors to banks, market analysis firms, and brokerage companies. By the end of the third quarter of 2023, together with Canadian partners, two investments have been made. In June 2023, a property was acquired at the address 3406-3434 Weston Road, and in September 2023, three adjacent properties suitable for residential development were purchased in downtown Toronto at the address 164 - 168 Isabella Street. The objective of the purchased properties is to enhance their value. Weston Limited Partnership and Elysium Isabella Limited Partnership have been founded to develop these properties. In both projects, the land appraisal phase is expected to take 2-2.5 years, after which Weston Limited Partnership and Elysium Isabella Limited Partnership will decide whether to realize the obtained building rights through the sale of the properties or proceed with the construction phase. Conclusion and Outlook for 2024 Despite the persistently challenging economic environment and high prevailing interest rates, the Group remained profitable in 2023. Although overall market activity in both Tallinn and Riga was somewhat subdued, several of Hepsor's development projects saw impressive sales figures in 2023. We are also pleased that despite global geopolitical and economic headwinds, the Hepsor team has performed admirably during times of greater complexity in all our home markets, maintaining the strength and sustainability of our company's foundation. Looking ahead, we aim for a greater contribution from the Canadian business line launched in 2023. In 2024, we plan to commence construction and sales for at least three new projects. We will start two new projects in Latvia. These include the Ulbrokas 34 commercial building, offering approximately 9,000 m2 of leasable space, and the Zala Jugla project featuring 105 new homes. In Tallinn, within the Manufaktuuri Quarter, we envision the next phase of development and sales at Manufaktuuri 5. We will be transforming the former Baltic Cotton Spinning and Weaving Factory main building into an energy-efficient Class A building, featuring unique high-ceilinged homes and commercial spaces with geothermal heating and cooling. Sales for this project begins already at the first quarter of 2024. At Hepsor, we remain moderately optimistic and view real estate as a long-term endeavour. We aim to launch and develop projects over market cycles while carefully analyzing risks and opportunities. Please see Hepsor AS consolidated unaudited interim report for Q4 2023: https://hepsor.ee/en/for-investors/stock/reports-2/ (https://www.globenewswire.com/Tracker?data=z0GzBMhyyFbKCstyyonev7uj2- CVPm86g8FAnQIv- zz5pc19VnfBdtlK0A_wbrYdC7i2XhQxxyog5YKhTGySFkRakWYaA6tS7DMsZzCBzU4JhVuvK1RQAUPDS yWGCuyfO0A2HqAEZqPGuafoOwv3JG34k5WaBXSbcuWIWSdtd_ACEEE2iSlOljeqRdBnwbE2) Consolidated statement of financial position +-------------------------------------------------------+---------+---------+ |in thousands of euros |31-Dec-23|31-Dec-22| +-------------------------------------------------------+---------+---------+ |Assets | | | +-------------------------------------------------------+---------+---------+ |Current assets | | | +-------------------------------------------------------+---------+---------+ |Cash and cash equivalents | 7,604| 3,754| +-------------------------------------------------------+---------+---------+ |Trade and other receivables | 1,544| 1,731| +-------------------------------------------------------+---------+---------+ |Current loan receivables | 311| 0| +-------------------------------------------------------+---------+---------+ |Inventories | 77,439| 69,760| +-------------------------------------------------------+---------+---------+ |Total current assets | 86,898| 75,245| +-------------------------------------------------------+---------+---------+ |Non-current assets | | | +-------------------------------------------------------+---------+---------+ |Property, plant and equipment | 162| 232| +-------------------------------------------------------+---------+---------+ |Intangible assets | 4| 7| +-------------------------------------------------------+---------+---------+ |Financial investments | 1,992| 2| +-------------------------------------------------------+---------+---------+ |Investments in associates | 0| 1,086| +-------------------------------------------------------+---------+---------+ |Non-current loan receivables | 1,729| 1,766| +-------------------------------------------------------+---------+---------+ |Other non-current receivables | 203| 30| +-------------------------------------------------------+---------+---------+ |Total non-current assets | 4,090| 3,123| +-------------------------------------------------------+---------+---------+ |Total assets | 90,988| 78,368| +-------------------------------------------------------+---------+---------+ |Liabilities and equity | | | +-------------------------------------------------------+---------+---------+ |Current liabilities | | | +-------------------------------------------------------+---------+---------+ |Loans and borrowings | 40,600| 22,565| +-------------------------------------------------------+---------+---------+ |Current lease liabilities | 40| 46| +-------------------------------------------------------+---------+---------+ |Prepayments from customers | 2,620| 3,054| +-------------------------------------------------------+---------+---------+ |Trade and other payables | 7,188| 4,007| +-------------------------------------------------------+---------+---------+ |Total current liabilities | 50,448| 29,672| +-------------------------------------------------------+---------+---------+ |Non-current liabilities | | | +-------------------------------------------------------+---------+---------+ |Loans and borrowings | 16,305| 26,015| +-------------------------------------------------------+---------+---------+ |Non-current lease liabilities | 29| 68| +-------------------------------------------------------+---------+---------+ |Other non-current liabilities | 2,058| 2,290| +-------------------------------------------------------+---------+---------+ |Total non-current liabilities | 18,392| 28,373| +-------------------------------------------------------+---------+---------+ |Total liabilities | 68,840| 58,045| +-------------------------------------------------------+---------+---------+ |Equity | | | +-------------------------------------------------------+---------+---------+ |Share capital | 3,855| 3,855| +-------------------------------------------------------+---------+---------+ |Share premium | 8,917| 8,917| +-------------------------------------------------------+---------+---------+ |Reserve capital | 385| 0| +-------------------------------------------------------+---------+---------+ |Retained earnings | 8,991| 7,551| +-------------------------------------------------------+---------+---------+ |Total equity | 22,148| 20,323| +-------------------------------------------------------+---------+---------+ |incl. total equity attributable to owners of the parent| 20,980| 19,866| +-------------------------------------------------------+---------+---------+ |incl. non-controlling interest | 1,168| 457| +-------------------------------------------------------+---------+---------+ |Total liabilities and equity | 90,988| 78,368| +-------------------------------------------------------+---------+---------+ Consolidated statement of profit and loss and other comprehensive income +---------------------------------+--------+--------+-------+----------------+ | | | | | | | | | | | | |in thousands of euros |12M 2023|12M 2022|Q4 2023|Q4 2022 adjusted| +---------------------------------+--------+--------+-------+----------------+ |Revenue | 41,135| 12,870| 5,087| 7,248| +---------------------------------+--------+--------+-------+----------------+ |Cost of sales (-) | -34,067| -11,096| -4,843| -5,996| +---------------------------------+--------+--------+-------+----------------+ |Gross profit | 7,068| 1,774| 244| 1,252| +---------------------------------+--------+--------+-------+----------------+ |Marketing expenses (-) | -576| -446| -177| -167| +---------------------------------+--------+--------+-------+----------------+ |Administrative expenses (-) | -1,467| -1,095| -357| -331| +---------------------------------+--------+--------+-------+----------------+ |Other operating income | 166| 70| 54| 23| +---------------------------------+--------+--------+-------+----------------+ |Other operating expenses (-) | -152| -68| -36| -23| +---------------------------------+--------+--------+-------+----------------+ |Operating profit (-loss) of the| | | | | |year | 5,039| 235| -272| 754| +---------------------------------+--------+--------+-------+----------------+ |Financial income | 1,174| 1,889| 45| 1,040| +---------------------------------+--------+--------+-------+----------------+ |Financial expenses (-) | -2,746| -787| -1,084| -333| +---------------------------------+--------+--------+-------+----------------+ |Profit before tax | 3,467| -1,337| -1,311| 1,461| +---------------------------------+--------+--------+-------+----------------+ |Current income tax (-) | 0| -6| 0| -1| +---------------------------------+--------+--------+-------+----------------+ |Deferred income tax | 0| 0| 0| 0| +---------------------------------+--------+--------+-------+----------------+ |Net profit for the year | 3,467| 1,331| -1,311| 1,460| +---------------------------------+--------+--------+-------+----------------+ | Attributable to owners of the| | | | | |parent | 1,172| 1,396| -1,100| 1,537| +---------------------------------+--------+--------+-------+----------------+ | Non-controlling interest | 2,295| -65| -211| -77| +---------------------------------+--------+--------+-------+----------------+ | | | | | | +---------------------------------+--------+--------+-------+----------------+ | Other comprehensive income (-| | | | | |loss) | | | | | +---------------------------------+--------+--------+-------+----------------+ |Changes related to change of| | | | | |ownership | 286| -26| 36| -161| +---------------------------------+--------+--------+-------+----------------+ |Change in value of embedded| | | | | |derivatives with minority| | | | | |shareholders | -2,053| 10| 104| -8| +---------------------------------+--------+--------+-------+----------------+ |Other comprehensive income (-| | | | | |loss) for the period | -1,767| -16| 140| -169| +---------------------------------+--------+--------+-------+----------------+ | Attributable to owners of the| | | | | |parent | -58| -434| -70| -200| +---------------------------------+--------+--------+-------+----------------+ | Non-controlling interest | -1,709| 418| 210| 31| +---------------------------------+--------+--------+-------+----------------+ | | | | | | +---------------------------------+--------+--------+-------+----------------+ |Comprehensive income (-loss) for| | | | | |the period | 1,700| 1,315| -1,171| 1,291| +---------------------------------+--------+--------+-------+----------------+ | Attributable to owners of the| | | | | |parent | 1,114| 962| -1,170| 1,337| +---------------------------------+--------+--------+-------+----------------+ | Non-controlling interest | 586| 353| -1| -46| +---------------------------------+--------+--------+-------+----------------+ | | | | | | +---------------------------------+--------+--------+-------+----------------+ |Earnings per share | | | | | +---------------------------------+--------+--------+-------+----------------+ | Basic (euros per share) | 0.30| 0.36| -0.29| 0.40| +---------------------------------+--------+--------+-------+----------------+ | Diluted (euros per share) | 0.30| 0.36| -0.29| 0.40| +---------------------------------+--------+--------+-------+----------------+ Henri Laks Member of the Management Board Phone: +372 5693 9114 e-mail: henri@hepsor.ee (mailto:henri@hepsor.ee) -------------------------------------------------------- Hepsor AS (www.hepsor.ee) is one of the fastest growing residential and commercial real estate developers in Estonia and Latvia. Over the last twelve years Hepsor has developed more than 1,600 homes and 36,000 m2 of commercial space. Hepsor was the first real estate developer in the Baltic States to implement a number of innovative engineering solutions that make the buildings we construct more energy-efficient and thus more environmentally friendly. The company's portfolio is comprised of 25 development projects with a total sellable space of 171,800 m2.