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Hepsor AS
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Majandusaasta aruanne
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23.04.2025 07:00:32
Pealkiri
Hepsor AS-i auditeeritud 2024. majandusaasta aruanne
Teade
Hepsor AS-i juhatus on koostanud 2024. aasta majandusaasta auditeeritud aruande.
Võrreldes 19. veebruaril 2025. aastal avaldatud auditeerimata
majandustulemustega ei ole auditeeritud aruandes finantstulemuste osas
erinevusi.
Kontserni 2024. aasta konsolideeritud müügitulu oli 38,4 miljonit eurot (2023:
41,1 miljonit eurot).
Kontserni 2024. aasta puhaskasum oli 2,1 miljonit eurot (2023: 3,5 miljonit
eurot). Aruandeaasta emaettevõtte omanikele kuuluv puhaskasum oli 0,4 miljonit
eurot (2023: 1,2 miljonit eurot).
Kooskõlastatult kontserni nõukoguga, teeb juhatus ettepaneku maksta
aktsionäridele 2025. aastal eelnevate perioodide kasumist dividendidena välja
1 002 tuhat eurot (0,26 eurot aktsia kohta), mis arvestades aktsia hinda seisuga
31.12.2024 teeb dividenditootluseks 6,2%.
2024. aastal ehituses ja müügis olevad arendusprojektid
2024. aastal andsime klientidele üle 194 kodu, 165 kodu andsime klientidele üle
Tallinnas ja 29 kodu Riias.
Riias, aadressil Ulbrokas 34, alustasime ärihoone StokOfiss 34 ehitust ning
jätkus ehitus 40 korteriga Annenhof Maja arendusprojektis, mis valmib 2025.
aasta alguses.
Tallinnas alustasime Hepsori seni suurima arendusprojekti, aadressil
Manufaktuuri 5 asuva endise Balti Puuvilla Ketramise ja Kudumise Vabriku
peahoone ehitust ning müüki. Projekti arendame etapiviisiliselt. Esimeses etapis
on kavas rajada 150 uut korterit.
Sidusettevõttena kajastatud Hepsor P113 OÜ-le kuuluvas ärihoones P113
Tervisemaja jätkus uute üürilepingute sõlmimine kui seisuga 31.12.2024 oli
hoonest 77% üürilepingutega kaetud siis tänaseks on sõlmitud lepinguid 84%
ulatuses kogu üüripinnast.
Kontserni äristrateegia alusel müüdi 2024. aasta IV kvartalis Tallinnas asuv
Lembitu 4 kinnistu, mis on mõeldud u 110 toaga hotelli rajamiseks. Vabanenud
kapitali kasutati nii uute arenduste rahastamiseks, kui ka kontserni tasandil
intressikulu vähendamiseks.
Uued projektid Tallinnas ja Riias
Hepsor omandas 2024. aasta septembris uue kinnistu Tallinnas aadressil Võistluse
7. Tegemist on Eesti Kunstiakadeemia teadurite-arhitektide loodud sLender-tüüpi
kortermajaga, mis on ehitatud 20. sajandi alguse Lenderi puitmaja tüübile. Hoone
rajatakse täielikult puitkonstruktsioonile, välja arvatud hoone keskosas olev
trepikoda. Projekti keskmes on keskkonnahoid ja kliimakindlust loovad
rohetehnoloogia lahendused.
Hepsor Latvia OÜ tütarettevõte Hepsor E18 SIA omandas 18. juulil 2024 kinnistu
Riias aadressil Eizhenijas iela 18 kuhu on kavas arendada kaks maja kokku 54
korteriga.
Detsembris sõlmis Hepsor Latvia OÜ optsioonilepingu, et omandada
kinnisvaraarenduse ettevõtte 50% osalus. Arendusettevõte plaanib Riias aadressil
Dzelzavas 74c rajada 103 uut kodu.
Hepsor Kanadas
Hepsor on praeguseks investeerinud Torontos viide arendusprojekti. Koostöös
äripartneritega on Kanada suurimas linnas omandatud projektide esmane eesmärk
koostada detailplaneering ja seeläbi saavutada ehitusõigus kokku u 3000 uue
üürikorteri rajamiseks.
2024. aastal tegi Hepsor Kanadas kolm uut investeeringut:
- 7 kinnistust koosnevasse arendusprojekti Torontos aadressil 17-29 Glenavy
Avenue;
- 11 kinnistust koosnevasse arendusprojekti Toronto kesklinnas High Parki
piirkonnas;
- 17 kinnistust koosnevasse arendusprojekti Torontos Brownville Avenue'l.
Tulevikuvaade
2025. aastal soovime alustada kuni viie uue arendusprojekti ehitust ja müüki.
Lätis plaanime alustada kuni nelja projekti ehitust ja müüki. Kokku läheb kolmes
elukondlikus projektis ehitusse ja müüki 227 uut kodu. Ärihoonete valdkonnas
soovime alustada Veidema kvartalis, aadressil Ganibu Dambis 17a, kontorlao ehk
stock-office-tüüpi arendusprojekti ehitustöid.
Manufaktuuri kvartalis alustame ka järgmist etappi - 49 uue kodu müüki ja
ehitust aadressil Manufaktuuri 12.
Langev intressikeskkond lubab tulevikku vaadata siiski mõõduka optimismiga.
Kinnisvaraäri on pikk protsess. Seetõttu soovime algatada ja arendada uusi
projekte, analüüsides riske ning võimalusi, alati üle turutsüklite.
Konsolideeritud finantsseisundi aruanne
tuhandetes eurodes 31.12.2024 31.12.2023
Varad
Käibevarad
Raha ja raha ekvivalendid 6 249 7 604
Nõuded ja ettemaksed 761 1 544
Lühiajalised laenunõuded 200 311
Varud 64 141 77 439
Käibevarad kokku 71 351 86 898
Põhivarad
Materiaalne põhivara 288 162
Immateriaalne põhivara 2 4
Kinnisvarainvesteeringud 7 980 0
Finantsinvesteeringud 6 424 2 005
Pikaajalised laenunõuded 2 428 1 729
Muud pikaajalised nõuded 340 203
Põhivarad kokku 17 462 4 103
Varad kokku 88 813 91 001
Kohustised ja omakapital
Lühiajalised kohustised
Lühiajalised laenukohustised 23 336 40 600
Lühiajalised rendikohustised 52 40
Võlad tarnijatele, muud võlad ja ettemaksed 7 266 9 808
Lühiajalised kohustised kokku 30 654 50 448
Pikaajalised kohustised
Pikaajalised laenukohustised 31 352 16 305
Pikaajalised rendikohustised 162 29
Muud pikaajalised kohustised 4 635 2 058
Pikaajalised kohustised kokku 36 149 18 392
Kohustised kokku 66 803 68 840
Omakapital
Aktsiakapital 3 855 3 855
Ülekurss 8 917 8 917
Reservkapital 385 385
Jaotamata kasum 8 853 9 004
Omakapital kokku 22 010 22 161
sh emaettevõtte omanikele kuuluv omakapital kokku 20 912 20 993
sh vähemusosanikele kuuluv omakapital kokku 1 098 1 168
Kohustised ja omakapital kokku 88 813 91 001
Konsolideeritud koondkasumi aruanne
tuhandetes eurodes 2024 2023
Müügitulu 38 397 41 135
Müüdud kaupade ja teenuste kulu (-) -31 635 -34 067
Brutokasum 6 762 7 068
Turustuskulud (-) -898 -576
Üldhalduskulud (-) -1 802 -1 472
Muud äritulud 449 166
Muud ärikulud (-) -179 -152
Ärikasum 4 332 5 034
Finantstulud 421 1 192
Finantskulud (-) -2 578 -2 746
Kasum enne tulumaksu 2 175 3 480
Tasumisele kuuluv tulumaks -41 0
Aruandeperioodi puhaskasum/-kahjum 2 134 3 480
Emaettevõtte omanikele kuuluv osa puhaskasumis/-kahjumis 423 1 185
Vähemusosalusele kuuluv osa puhaskasumis/-kahjumis 1 711 2 295
Koondkasum/-kahjum
Omanikuvahetusega seotud muutused -313 286
Varjatud tuletisinstrumentide väärtuse muutus -1 874 -2 053
Valuutakursi vahed välisettevõtete ümberarvestusel -103 0
Aruandeperioodi muu koondkasum/-kahjum -2 290 -1 767
Emaettevõtte omanikele kuuluv osa muu koondkasumis/-kahjumis -504 -58
Vähemusosalusele kuuluv osa muu koondkasumis/-kahjumis -1 786 -1 709
Aruandeperioodi koondkasum/-kahjum -156 1 713
Emaettevõtte omanikele kuuluv osa koondkasumis -81 1 127
Vähemusosalusele kuuluv osa koondkasumis -75 586
Kasum aktsia kohta
Tava (eurot aktsia kohta) 0,11 0,31
Lahustatud (eurot aktsia kohta) 0,11 0,31
Kogu Hepsor AS-i auditeeritud 2024. aasta aastaaruandega saab tutvuda siin:
https://hepsor.ee/investorile/aktsia/aruandedjaesitlused/
Aastaaruanne esitatakse kinnitamiseks aktsionäride üldkoosolekule.
Henri Laks
Juhatuse liige
Telefon: +372 5693 9114
e-post: [email protected] (mailto:[email protected])
Hepsor AS (www.hepsor.ee
(https://www.globenewswire.com/Tracker?data=8hs4PUlwLcMQQ2B9WtUf3eTciFK6dPPJ-
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lPDfIDM1P8hd7Q0QFEFvcTmQZK47UXyZLqn3w_298Gnj0VEsLKfKbxLFD6OuE4KcjLN91zFhNBIF-m2j
Q4kyRD5J3iyVlCG1NyZ4EGhs63PshxndfkV9AYs-rJeX56uQj8v2H5Xw83emy7fRJNZ4sW0VsgxGFvoB
LELA4Um7Vj1S2NrG7z3osCQXUMPdVM8OqfS97vv7Kz0Urkho3bul0FyOn6OCTY-faOKRXC_CTe5JDyId
dsp1YnSTsN2ey9bmYW1nex8ubv9N9-quCKQ2wHIiX9w==)) on elu- ja ärikondliku
kinnisvara arendaja. Kontsern tegutseb Eestis, Lätis ja Kanadas. Kolmeteistkümne
tegutsemisaasta jooksul oleme loonud 2 076 kodu ja ligi 36 300
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 24 arendusprojekti kogupindalaga 172 500 m(2).
Pealkiri
Hepsor AS 2024 audited annual report
Teade
The Management Board of Hepsor AS has prepared the audited annual report for
2024. Compared to the unaudited financial results published on 19 February
2025, there are no differences in the financial results in the audited report.
The consolidated sales revenue of Hepsor for the 2024 financial year amounted to
38.4 million euros (2023: 41.1 million euros).
The Group's net profit in 2024 was 2.1 million euros (2023: 3.5 million euros).
The net profit attributable to the owners of the parent company in the reporting
year was 0.4 million euros (2023: 1.2 million euros).
In coordination with the Group's Supervisory Board, the Management Board
proposes to distribute 1,002 thousand euros (EUR 0.26 per share) in dividends to
shareholders in 2025 from the profits of previous periods. Based on the share
price as of 31 December 2024, this results in a dividend yield of 6.2%.
Development projects under construction and available for sale
In 2024, we delivered 194 homes to customers- 165 in Tallinn and 29 in Riga.
In Riga, at Ulbrokas 34, we started the construction of the StokOfiss 34
commercial building and continued the construction of the Annenhof Maja
residential development with 40 apartments, which will be completed in early
2025.
In Tallinn, we began Hepsor's largest development project to date, the
construction and sale of the main building of the former Baltic Cotton Spinning
and Weaving Factory located at Manufaktuuri 5. The project is being developed in
stages. In the first stage, the construction of 150 new apartments is planned.
In the commercial building P113 Tervisemaja, owned by the affiliated company
Hepsor P113 OÜ, the signing of new rental contracts continued. As of 31 December
2024, 77% of the building was covered by lease agreements, whereas by today,
agreements have been signed for 84% of the total rental space.
Based on the Group's business strategy, the Lembitu 4 property in Tallinn, which
is intended to be used for the construction of a hotel with approximately 110
rooms, was sold in Q4 2024. Freed-up capital was used to finance new
developments as well as to reduce interest costs at the Group level.
New projects in Tallinn and Riga
In September 2024, Hepsor acquired a new property in Tallinn, at Võistluse 7. It
is a sLender-type apartment building, designed by researchers-architects at the
Estonian Academy of Arts, built in the style of an early 20th century Lender
wooden house. The building will be constructed entirely of wood, with the
exception of the staircase in the centre of the building. At the heart of the
project is environmental preservation and the utilisation of green technology
solutions for climate resilience.
On 18 July 2024, Hepsor E18 SIA, a subsidiary of Hepsor Latvia OÜ, acquired a
property at Eizhenijas iela 18, in Riga. The plan is to develop two buildings
there with a total of 54 apartments.
In December, Hepsor Latvia OÜ signed an option agreement to acquire a 50% stake
in a real estate development company. The development company is planning to
build 103 new homes at Dzelzavas 74c, in Riga.
Hepsor in Canada
To date, Hepsor has invested in five development projects in Toronto. In
cooperation with business partners, the primary objective of the projects
acquired in Canada's largest city is to prepare a detailed plan and thereby
achieve building rights for a total of around 3,000 new rental apartments.
In 2024, Hepsor made three new investments in Canada:
- a development project consisting of seven properties at 17-29 Glenavy Avenue,
in Toronto;
- a development project consisting of 11 properties in High Park, located in
downtown Toronto;
- a development project consisting of 17 properties on Brownville Avenue, in
Toronto.
Vision for the future
In 2025, we intend to begin the construction and sale of up to five new
development projects.
In Latvia, we are planning to begin the construction and sale of up to four
projects. In total, 227 new homes will be built and sold in three residential
projects. In the field of commercial buildings, we would like to begin the
construction of a stock-office type development project in the Veidema Quarter
at Ganibu Dambis 17a.
We will also be starting the next phase in the Manufaktuuri Quarter - the sale
and construction of 49 new homes at Manufaktuuri 12.
Nevertheless, the declining interest rate environment allows us to look to the
future with moderate optimism. The real estate business is a long process.
That's why we want to initiate and develop new projects, always analysing risks
and opportunities over market cycles.
Consolidated statement of financial position
in thousands of euros 31 Dec 2024 31 Dec 2023
-------------------------------------------------------------------------------
-------------------------------------------------------+-----------+-----------
Assets | |
-------------------------------------------------------+-----------+-----------
Current assets | |
-------------------------------------------------------+-----------+-----------
Cash and cash equivalents | 6,249| 7,604
-------------------------------------------------------+-----------+-----------
Trade and other receivables | 761| 1,544
-------------------------------------------------------+-----------+-----------
Current loan receivables | 200| 311
-------------------------------------------------------+-----------+-----------
Inventories | 64,141| 77,439
-------------------------------------------------------+-----------+-----------
Total current assets | 71,351| 86,898
-------------------------------------------------------+-----------+-----------
Non-current assets | |
-------------------------------------------------------+-----------+-----------
Property, plant and equipment | 288| 162
-------------------------------------------------------+-----------+-----------
Intangible assets | 2| 4
-------------------------------------------------------+-----------+-----------
Investment properties | 7,980| 0
-------------------------------------------------------+-----------+-----------
Financial investments | 6,424| 2,005
-------------------------------------------------------+-----------+-----------
Non-current loan receivables | 2,428| 1,729
-------------------------------------------------------+-----------+-----------
Other non-current receivables | 340| 203
-------------------------------------------------------+-----------+-----------
Total non-current assets | 17,462| 4,103
-------------------------------------------------------+-----------+-----------
Total assets | 88,813| 91,001
-------------------------------------------------------+-----------+-----------
Liabilities and equity | |
-------------------------------------------------------+-----------+-----------
Current liabilities | |
-------------------------------------------------------+-----------+-----------
Loans and borrowings | 23,336| 40,600
-------------------------------------------------------+-----------+-----------
Current lease liabilities | 52| 40
-------------------------------------------------------+-----------+-----------
Trade and other payables and prepayments | 7,266| 9,808
-------------------------------------------------------+-----------+-----------
Total current liabilities | 30,654| 50,448
-------------------------------------------------------+-----------+-----------
Non-current liabilities | |
-------------------------------------------------------+-----------+-----------
Loans and borrowings | 31,352| 16,305
-------------------------------------------------------+-----------+-----------
Non-current lease liabilities | 162| 29
-------------------------------------------------------+-----------+-----------
Other non-current liabilities | 4,635| 2,058
-------------------------------------------------------+-----------+-----------
Total non-current liabilities | 36,149| 18,392
-------------------------------------------------------+-----------+-----------
Total liabilities | 66,803| 68,840
-------------------------------------------------------+-----------+-----------
Equity | |
-------------------------------------------------------+-----------+-----------
Share capital | 3,855| 3,855
-------------------------------------------------------+-----------+-----------
Share premium | 8,917| 8,917
-------------------------------------------------------+-----------+-----------
Reserves | 385| 385
-------------------------------------------------------+-----------+-----------
Retained earnings | 8,853| 9,004
-------------------------------------------------------+-----------+-----------
Total equity | 22,010| 22,161
-------------------------------------------------------+-----------+-----------
Incl. total equity attributable to owners of the | |
parent | 20,912| 20,993
-------------------------------------------------------+-----------+-----------
Incl. non-controlling interest | 1,098| 1,168
-------------------------------------------------------+-----------+-----------
Total liabilities and equity | 88,813| 91,001
-------------------------------------------------------+-----------+-----------
Consolidated statement of profit and loss and other comprehensive income
in thousands of euros 2024 2023
-------------------------------------------------------------------------------
---------------------------------------------------------------+-------+-------
Revenue | 38,397| 41,135
---------------------------------------------------------------+-------+-------
Cost of sales (-) |-31,635|-34,067
---------------------------------------------------------------+-------+-------
Gross profit | 6,762| 7,068
---------------------------------------------------------------+-------+-------
Marketing expenses (-) | -898| -576
---------------------------------------------------------------+-------+-------
Administrative expenses (-) | -1,802| -1,472
---------------------------------------------------------------+-------+-------
Other operating income | 449| 166
---------------------------------------------------------------+-------+-------
Other operating expenses (-) | -179| -152
---------------------------------------------------------------+-------+-------
Operating profit of the year | 4,332| 5,034
---------------------------------------------------------------+-------+-------
Financial income | 421| 1,192
---------------------------------------------------------------+-------+-------
Financial expenses (-) | -2,578| -2,746
---------------------------------------------------------------+-------+-------
Profit before tax | 2,175| 3,480
---------------------------------------------------------------+-------+-------
Income tax | -41| 0
---------------------------------------------------------------+-------+-------
Net profit for the year | 2,134| 3,480
---------------------------------------------------------------+-------+-------
Attributable to owners of the parent | 423| 1,185
---------------------------------------------------------------+-------+-------
Non-controlling interest | 1,711| 2,295
---------------------------------------------------------------+-------+-------
| |
---------------------------------------------------------------+-------+-------
Other comprehensive income (loss) | |
---------------------------------------------------------------+-------+-------
| |
---------------------------------------------------------------+-------+-------
Changes related to change of ownership | -313| 286
---------------------------------------------------------------+-------+-------
Change in value of embedded derivatives with minority | |
shareholders | -1,874| -2,053
---------------------------------------------------------------+-------+-------
Exchange rate differences from foreign entities | -103| 0
---------------------------------------------------------------+-------+-------
Other comprehensive income (loss) for the period | -2,290| -1,767
---------------------------------------------------------------+-------+-------
Attributable to owners of the parent | -504| -58
---------------------------------------------------------------+-------+-------
Non-controlling interest | -1,786| -1,709
---------------------------------------------------------------+-------+-------
Comprehensive income (loss) for the period | -156| 1,713
---------------------------------------------------------------+-------+-------
Attributable to owners of the parent | -81| 1,127
---------------------------------------------------------------+-------+-------
Non-controlling interest | -75| 586
---------------------------------------------------------------+-------+-------
Earnings per share | |
---------------------------------------------------------------+-------+-------
Basic (euros per share) | 0.11| 0.31
---------------------------------------------------------------+-------+-------
Diluted (euros per share) | 0.11| 0.31
---------------------------------------------------------------+-------+-------
Please see full version of Hepsor AS audited 2024 annual
report: https://hepsor.ee/en/for-investors/stock/reports-2/.
The annual report will be presented for approval to the General Meeting of
Shareholders.
Henri Laks
Member of the Management Board
Phone: +372 5693 9114
e-mail: [email protected] (mailto:[email protected])
Hepsor AS (www.hepsor.ee (http://www.hepsor.ee)) is a developer of residential
and commercial real estate. The Group operates in Estonia, Latvia and Canada.
During our thirteen years of operation, we have created 2,076 homes and nearly
36,300 m(2) of commercial space. As the first developer in the Baltic countries,
Hepsor has implemented several innovative engineering and technical solutions
that make the buildings built by the company more energy-efficient and thus more
environmentally friendly. The company's portfolio includes a total of 24
development projects with a total area of 172,500 m(2).