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30.07.2025 07:00:00
Pealkiri
Hepsor AS 2025 II kvartali ja kuue kuu konsolideeritud auditeerimata vahearuanne
Teade
Hepsori 2025. aasta II kvartali konsolideeritud müügitulu oli 13,9 miljonit
eurot (II kvartal 2024: 5,2 miljonit eurot) ja aruandeaasta esimese poolaasta
müügitulu oli 22,1 miljonit eurot (I poolaasta 2024: 7,4 miljonit eurot).
Kontserni teise kvartali puhaskasumiks kujunes 0,4 miljonit eurot (II kvartal
2024: puhaskahjum 0,6 miljonit eurot), sealhulgas emaettevõtte omanikele kuuluv
puhaskasum oli 0,02 miljonit eurot (II kvartal 2024: puhaskahjum 0,6 miljonit
eurot) ja kontserni esimese poolaasta puhaskasum oli 0,3 miljonit eurot (I
poolaasta 2024: puhaskahjum 1,5 miljonit eurot) sellest emaettevõtte omanikele
kuuluv puhaskahjum oli 0,2 miljonit eurot (I poolaasta 2024: 1,5 miljonit
eurot).
Emaettevõtte puhaskahjumit mõjutas 0,3 miljoni euro suurune tulumaksukulu, mis
tulenes Hepsori aktsionäride üldkoosoleku poolt kinnitatud dividendide
jaotamisest.
Teises kvartalis müüs Hepsor kontserni ettevõte Hepsor Fortuuna OÜ kinnistud
aadressidel Paevälja 5, 7 ja 9 kontserni 50% osalusega ühisettevõttele Hepsor
SOF OÜ-le. Paevälja tänava kinnistute müügist teenib kontsern kasumit 0,8
miljonit eurot, millest 2025. aasta teises kvartalis realiseerus 0,4 miljonit
eurot. Ülejäänud kinnistute müügist saadav kasum realiseerub arendusprojekti
lõpus vastavalt korterite müügitempole.
21. mail toimunud Hepsori aktsionäride üldkoosolekul otsustati maksta
aktsionäridele 2025. aastal eelnevate perioodide kasumist dividendidena välja
0,26 eurot aktsia kohta kokku 1,0 miljon eurot. Dividendid makstakse
aktsionäridele välja käesoleva aasta 19. augustil.
Elukondlikud arendusprojektid
Seisuga 30. juuni 2025 on kontsernil müügis kokku 9 elamuarendusprojekti,
millest viis on valminud ning 4 on kas ehitusfaasis või mille ehitusega on
plaanis alustada veel 2025. aastal. Valminud elamuarendusprojektides on kokku
rajatud 355 uut kodu ja 453 m² äripinda. Aruandekuupäeva seisuga on neist müüdud
(asjaõiguslepingute või broneerimislepingutega) 81% ehk 288 kodu. Vaatamata
majanduskeskkonna ebakindlusele on nõudlus kontserni arendusprojektide järele
püsinud stabiilsel tasemel, peegeldades klientide jätkuvat usaldust meie
arenduste vastu.
2025. aasta esimesel poolaastal andsime klientidele üle 102 kodu (I poolaasta
2024: 46 kodu), millest II kvartalis 60 kodu (II kvartal 2024: 34 kodu).
Tallinnas oleme alustanud Manufaktuuri Vabriku arendusprojekti ehituse
ettevalmistustöödega, aadressil Manufaktuuri 5. Arendusprojekti esimeses etapis
on kavas rajada 152 kodu. Ehituse planeeritav valmimisaeg on 2027. aasta sügis.
Riias alustasime 360° Dzelzavas Residences projekti, aadressil Dzelzavas iela
74c, 103 korteriga kortermaja ehitust. Ehituse planeeritav valmimisaeg on
2026. aasta neljandas kvartalis.
Ärikinnisvara
2024. aastal alustasime Riias aadressil Ulbrokas 34, mitmefunktsioonilise
ärihoone StokOfiss 34 ehitust. Hoone üüripind on 8 740 m2. Seisuga 30.06.2025 on
kogu üüritavast pinnast 65% üürilepingute kaetud. Hoonele planeerime kasutusloa
saamist 2025. aasta juulikuu lõpuks, mille järel saame alustada ruumide
üleandmist üürnikele.
Sidusettevõttena kajastatud Hepsor P113 OÜ-le kuuluvas P113 Tervismajas jätkus
üürilepingute sõlmimine ning seisuga 30.06.2025 on kogu väljaüüritavast pinnast
üürilepingutega kaetud 98%.
Tulevikuvaade
Hepsor jätkab arendusporfelli kasvatamist. Aruande esitamise hetkel oleme
omandamas uut arendusprojekti Riias, aadressil Starta iela 17. Kinnistule on
kavas ehitada kolm 14-korruselist kortermaja kokku ligikaudu 250 korteriga ning
netomahuga 14 500 m2. Etapiviisilise ehitusega planeerime alustada 2026. aasta
lõpus. Arendusprojekti koguinvesteering ulatub ligi 40 miljoni euroni, mis teeb
sellest Hepsori seni suurima investeeringu Läti kinnisvaraturul.
Tallinnas, lisaks aktiivsele tegevusele Manufaktuuri kvartalis, on Hepsoril
suurem arendusala Lasnamäel Paevälja, Narva mnt ja Alvari tänava piirkonnas.
Selles piirkonnas oleme alustanud koostööd EfTEN Special Opportunities Fundiga
(ühisettevõtte Hepsor SOF OÜ). Juulis 2025. aastal müüs Hepsor AS tütarettevõte
Hepsor N450 OÜ kinnistud Narva mnt 150 ja 150a Hepsor SOF OÜ-le. Tehingu
maksumus oli 6,3 miljonit eurot, millele lisandus käibemaks. Hepsor teenib
kinnistute müügist 2,8 miljonit eurot kasumit, millest 1,4 miljonit realiseerub
käesoleva aasta kolmandas kvartalis. Hepsor SOF OÜ rajab Paevälja ja Narva mnt
arendusalale etapiviisiliselt ligikaudu 300 kodu. Esimese etapi ehitusega
alustatakse 2026. aastal.
2025. jätkab Hepsor aktiivselt elukondliku kinnisvara arendamist ning alustab
kolme uue elamuarendusprojektiga Eestis ja Lätis. Kokku lisandub arendusporfelli
173 uut kodu.
Tallinnas:
- Manufaktuuri kvartal, aadressil Manufaktuuri 12 - Hepsor alustab oma neljanda
arendusprojekti ehitust Manufaktuuri kvartalis, mille raames rajatakse 49 kodu.
Ehitusleping mahus 7 miljonit eurot on sõlmitud ning ehitusega alustatakse
2025. aasta augustis.
Riias:
- Zala Jugla projekt, aadressil Braila iela 23, Jugla- alustame I etapi ehitust
2025. aasta kolmandas kvartalis, mille käigus valmib 70 kodu;
- aruandeaastal soovime alustada Veidema kvartali I etapi ehitustöid, aadressil
Ganibu Dambis 17a, kus on plaanis kontorlao ehk stock-office-tüüpi
arendusprojekt;
- Eizhenijas iela 18 projekt - käesoleva aasta kolmandas kvartalis alustame
arendusprojekti eelmüügiga ning neljandas kvartalis on kavas alustada kahe
kortermaja ehitusega, kokku 54 kodu.
Kanada, Toronto
Hepsor on teinud viis investeeringut Torontos. Kõigi nende arendusprojektide
esimeses etapis koostatakse kinnistutele detailplaneeringud. Projektid liiguvad
vastavalt planeeritud ajagraafikule. Esimese planeeringu, Westoni nimelise
projekti, kehtestamine on eeldatavasti plaanis käesoleva aasta kolmandas
kvartalis.
Alates augustist toimuvad Hepsor AS-i juhtimises mitmed olulised muudatused.
Hepsor AS-i juhatuse liikmena alustab tööd senine Läti maajuht Martti Krass, kes
on viimasel kaheksal aastal andnud märkimisväärse panuse Hepsori äritegevusele
Lätis. Läti maajuhina alustab tööd Hepsor SIA juhatuse liige Gints Vanders ning
Hepsori aktsionäride üldkoosoleku otsuse alusel asub Henri Laks alates
augustist tööle Hepsor AS-i nõukogus, et toetada ettevõtte strateegilist arengut
panustades juhtimisse uuel tasandil.
Täispika 2025 II kvartali ja kuue kuu konsolideeritud auditeerimata
vahearuandega saab tutvuda Hepsori kodulehel:
https://hepsor.ee/investorile/aktsia/aruandedjaesitlused/
Konsolideeritud finantsseisundi aruanne
-------------------------------------------------------------------------------
tuhandetes eurodes 30.06.2025 31.12.2024 30.06.2024
-------------------------------------------------------------------------------
----------------------------------------------+----------+----------+----------
Varad | | |
----------------------------------------------+----------+----------+----------
Käibevarad | | |
----------------------------------------------+----------+----------+----------
Raha ja raha ekvivalendid | 3 005| 6 249| 4 731
----------------------------------------------+----------+----------+----------
Nõuded ja ettemaksed | 1 028| 761| 1 170
----------------------------------------------+----------+----------+----------
Lühiajalised laenunõuded | 200| 200| 311
----------------------------------------------+----------+----------+----------
Varud | 52 318| 64 141| 86 064
----------------------------------------------+----------+----------+----------
Käibevarad kokku | 56 551| 71 351| 92 276
----------------------------------------------+----------+----------+----------
Põhivarad | | |
----------------------------------------------+----------+----------+----------
Materiaalne põhivara | 299| 288| 183
----------------------------------------------+----------+----------+----------
Immateriaalne põhivara | 1| 2| 4
----------------------------------------------+----------+----------+----------
Kinnisvarainvesteering | 7 980| 7 980| 0
----------------------------------------------+----------+----------+----------
Finantsinvesteeringud | 7 821| 6 424| 2 668
----------------------------------------------+----------+----------+----------
Investeeringud ühisettevõtetesse | 1| 0| 0
----------------------------------------------+----------+----------+----------
Pikaajalised laenunõuded | 3 604| 2 428| 2 161
----------------------------------------------+----------+----------+----------
Muud pikaajalised nõuded | 467| 340| 271
----------------------------------------------+----------+----------+----------
Põhivarad kokku | 20 173| 17 462| 5 287
----------------------------------------------+----------+----------+----------
Varad kokku | 76 724| 88 813| 97 563
----------------------------------------------+----------+----------+----------
Kohustised ja omakapital | | |
----------------------------------------------+----------+----------+----------
Lühiajalised kohustised | | |
----------------------------------------------+----------+----------+----------
Lühiajalised laenukohustised | 8 551| 23 336| 33 258
----------------------------------------------+----------+----------+----------
Lühiajalised rendikohustised | 26| 52| 76
----------------------------------------------+----------+----------+----------
Ettemaksed klientidelt | 390| 724| 3 399
----------------------------------------------+----------+----------+----------
Võlad tarnijatele ja muud võlad | 6 122| 6 542| 6 226
----------------------------------------------+----------+----------+----------
Lühiajalised kohustised kokku | 15 089| 30 654| 42 959
----------------------------------------------+----------+----------+----------
Pikaajalised kohustised | | |
----------------------------------------------+----------+----------+----------
Pikaajalised laenukohustised | 35 031| 31 352| 29 622
----------------------------------------------+----------+----------+----------
Pikaajalised rendikohustised | 162| 162| 29
----------------------------------------------+----------+----------+----------
Muud pikaajalised kohustised | 5 872| 4 635| 4 237
----------------------------------------------+----------+----------+----------
Pikaajalised kohustised kokku | 41 065| 36 149| 33 888
----------------------------------------------+----------+----------+----------
Kohustised kokku | 56 154| 66 803| 76 847
----------------------------------------------+----------+----------+----------
Omakapital | | |
----------------------------------------------+----------+----------+----------
Aktsiakapital | 3 855| 3 855| 3 855
----------------------------------------------+----------+----------+----------
Ülekurss | 8 917| 8 917| 8 917
----------------------------------------------+----------+----------+----------
Reservkapital | 385| 385| 385
----------------------------------------------+----------+----------+----------
Jaotamata kasum | 7 413| 8 853| 7 559
----------------------------------------------+----------+----------+----------
Omakapital kokku | 20 570| 22 010| 20 716
----------------------------------------------+----------+----------+----------
sh emaettevõtte omanikele kuuluv omakapital | | |
kokku | 19 373| 20 912| 19 423
----------------------------------------------+----------+----------+----------
sh vähemusosanikele kuuluv omakapital kokku | 1 197| 1 098| 1 293
----------------------------------------------+----------+----------+----------
Kohustised ja omakapital kokku | 76 724| 88 813| 97 563
----------------------------------------------+----------+----------+----------
Konsolideeritud koondkasumi aruanne
-------------------------------------------------------------------------------
tuhandetes eurodes II kvartal II kvartal
6 kuud 2025 6 kuud 2024 2025 2024
-------------------------------------------------------------------------------
---------------------------+-----------+-----------+-------------+-------------
Müügitulu | 22 063| 7 422| 13 857| 5 151
---------------------------+-----------+-----------+-------------+-------------
Müüdud kaupade ja teenuste| | | |
kulu (-) | -19 203| -7 045| -12 014| -4 811
---------------------------+-----------+-----------+-------------+-------------
Brutokasum | 2 860| 377| 1 843| 340
---------------------------+-----------+-----------+-------------+-------------
Turustuskulud (-) | -448| -390| -169| -205
---------------------------+-----------+-----------+-------------+-------------
Üldhalduskulud (-) | -918| -889| -506| -446
---------------------------+-----------+-----------+-------------+-------------
Muud äritulud | 82| 70| 59| 25
---------------------------+-----------+-----------+-------------+-------------
Muud ärikulud (-) | -166| -24| -149| -6
---------------------------+-----------+-----------+-------------+-------------
Ärikasum/-kahjum | 1 410| -856| 1 078| -292
---------------------------+-----------+-----------+-------------+-------------
Finantstulud | 157| 201| 108| 164
---------------------------+-----------+-----------+-------------+-------------
Finantskulud (-) | -1 002| -871| -524| -433
---------------------------+-----------+-----------+-------------+-------------
Kasum enne tulumaksu | 565| -1 526| 662| -561
---------------------------+-----------+-----------+-------------+-------------
Tulumaks | -283| 0| -283| 0
---------------------------+-----------+-----------+-------------+-------------
Aruandeperioodi puhaskasum| 282| -1 526| 379| -561
---------------------------+-----------+-----------+-------------+-------------
Emaettevõtte omanikele| | | |
kuuluv osa puhaskasumis/- | | | |
kahjumis | -196| -1 526| 24| -647
---------------------------+-----------+-----------+-------------+-------------
Vähemusosalusele | | | |
kuuluv osa puhaskasumis/- | | | |
kahjumis | 478| 0| 355| 86
---------------------------+-----------+-----------+-------------+-------------
| | | |
---------------------------+-----------+-----------+-------------+-------------
Koondkasum/- kahjum | | | |
---------------------------+-----------+-----------+-------------+-------------
Omanikuvahetusega seotud | | | |
muutused | 0| 76| 0| 76
---------------------------+-----------+-----------+-------------+-------------
Vähemusosaluse varjatud | | | |
tuletisinstrumentide | | | |
väärtuse muutus | -428| 0| -278| 0
---------------------------+-----------+-----------+-------------+-------------
Valuutakursi vahed | | | |
välisettevõtete | | | |
ümberarvestusel | -292| 0| -131| 0
---------------------------+-----------+-----------+-------------+-------------
Aruandeperioodi muu | | | |
koondkasum kokku | -720| 76| -409| 76
---------------------------+-----------+-----------+-------------+-------------
Emaettevõtte omanikele| | | |
kuuluv osa muu | | | |
koondkasumis/-kahjumis | -341| -44| -180| -44
---------------------------+-----------+-----------+-------------+-------------
Vähemusosalusele | | | |
kuuluv osa koondkasumis | -379| 120| -229| 120
---------------------------+-----------+-----------+-------------+-------------
| | | |
---------------------------+-----------+-----------+-------------+-------------
Aruandeperioodi koondkasum| | | |
kokku | -438| -1 450| -30| -485
---------------------------+-----------+-----------+-------------+-------------
Emaettevõtte omanikele| | | |
kuuluv osa koondkasumis/- | | | |
kahjumis | -537| -1 570| -156| -691
---------------------------+-----------+-----------+-------------+-------------
Vähemusosalusele | | | |
kuuluv osa koondkasumis/- | | | |
kahjumis | 99| 120| 126| 206
---------------------------+-----------+-----------+-------------+-------------
| | | |
---------------------------+-----------+-----------+-------------+-------------
Kasum aktsia kohta | | | |
---------------------------+-----------+-----------+-------------+-------------
Tava (eurot aktsia | | | |
kohta) | -0,05| -0,40| 0,01| -0,17
---------------------------+-----------+-----------+-------------+-------------
Lahustatud (eurot | | | |
aktsia kohta) | -0,05| -0,40| 0,01| -0,17
---------------------------+-----------+-----------+-------------+-------------
Henri Laks
Juhatuse liige
Telefon: +372 5693 9114
e-post: [email protected]
(https://www.globenewswire.com/Tracker?data=ELvCKTN9ozvYTM4n1RxA2VE5HK89rdqSacXk
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Hepsor AS (www.hepsor.ee
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dsp1YnSTsN2ey9bmYW1nex8ubv9N9-quCKQ2wHIiX9w==)) on elu- ja ärikondliku
kinnisvara arendaja. Kontsern tegutseb Eestis, Lätis ja Kanadas. Neljateistkümne
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 25 arendusprojekti kogupindalaga 178 200 m(2).
Pealkiri
Hepsor AS consolidated unaudited interim report for Q2 2025 and six months
Teade
Hepsor's consolidated revenue for Q2 2025 amounted to 13.9 million euros (Q2 2024: 5.2 million euros), and revenue for the first half of the reporting year was 22.1 million euros (H1 2024: 7.4 million euros). The Group's net profit amounted to 0.4 million euros for the second quarter (Q2 2024: net loss of 0.6 million euros), including a net profit attributable to the owners of the parent company of 0.02 million euros (Q2 2024: net loss of 0.6 million euros). The Group's net profit for the first half of the year was 0.3 million euros (H1 2024: net loss of 1.5 million euros), of which a net loss of 0.2 million euros was attributable to the owners of the parent company (H1 2024: 1.5 million euros). The net loss of the parent company was affected by an income tax expense of 0.3 million euros arising from the distribution of dividends approved by the General Meeting of Shareholders of Hepsor. In the second quarter, Hepsor Fortuuna OÜ, a subsidiary of the Group, sold the properties located at Paevälja 5, 7 and 9 to the Group's 50% joint venture, Hepsor SOF OÜ. The total value of the transaction was 2.7 million euros, to which VAT was added. The Group will earn a profit of 0.8 million euros from the sale of the Paevälja street properties, of which 0.4 million euros was realised in the second quarter of 2025. The remaining profit from the sale of the properties will be realised at the end of the development project, pursuant to sale of the apartments. Residential development projects As of 30 June 2025, the Group has a total of 9 residential developments for sale, of which 5 have been completed and 4 are either under construction or to start construction in 2025. In total, 355 new homes and 453 m² of commercial space have been built across completed residential developments. As of the reporting date, 81% of the homes - totalling 288 units - had been sold, either under real right contracts or through reservation agreements. Despite the uncertainty of the economic environment, demand for the Group's property development has remained stable, reflecting the continued trust of our customers in our projects. In the first half of 2025, we handed over 102 homes to customers (H1 2024: 46 homes), of which 60 homes in the second quarter (Q2 2024: 34 homes). In Tallinn, we have started construction preparation works for the Manufaktuuri Factory development project, located at Manufaktuuri 5. In the first phase of the development, 152 homes are planned. Construction is scheduled for completion in the autumn of 2027. In Riga, we have started the construction of the 360° Dzelzavas Residences project, a 103-apartment building at Dzelzavas iela 74c. The estimated completion of the construction is in the fourth quarter of 2026. Commercial real estate In 2024, we started the construction of StokOfiss U34, a multifunctional commercial building at Ulbrokas 34 in Riga. The leasable area of the building is 8,740 m2. As of 30 June 2025, 65 % of the total leasable area is covered by lease agreements. We plan to obtain the authorisation for use of the building by the end of July 2025, after which we can start handing over the premises to tenants. Lease agreements continued to be signed for the P113 Health Centre property owned by Hepsor P113 OÜ, which is accounted for as an associate. As of 30 June 2025, 98% of the leasable area is covered by lease agreements. Future outlook Hepsor will continue to grow its development portfolio. As of the reporting date, we are in the process of acquiring a new property development in Riga, at Starta iela 17. Three 14-storey apartment buildings with a total of approximately 250 apartments and a net volume of 14,500 m2 are to be built there. Phased construction is scheduled to start at the end of 2026. The total investment in the development project is close to 40 million euros, making it Hepsor's largest investment in the Latvian real estate market. In Tallinn, in addition to activities in the Manufaktuuri Quarter, Hepsor has a larger development area in Lasnamäe, in the Paevälja, Narva mnt and Alvari street areas. In this area, we have launched cooperation with EfTEN Special Opportunities Fund (a joint venture Hepsor SOF OÜ). In July 2025, the subsidiary of Hepsor AS, Hepsor N450 OÜ, sold the properties at Narva mnt 150 and 150a to Hepsor SOF OÜ. The value of the transaction was 6.3 million euros, to which VAT was added. Hepsor will generate a profit of 2.8 million euros from the sale of the properties, of which 1.4 million euros will be realised in the third quarter of this year. Hepsor SOF OÜ will build approximately 300 homes in phases in the Paevälja and Narva mnt development area. Construction of the first phase will start in 2026. In Tallinn: - Manufaktuuri Quarter at Manufaktuuri 12 - Hepsor starts the construction of its fourth development project in the Manufaktuuri Quarter, building a total of 49 homes. A construction contract worth 7 million euros has been signed, and construction will start in August 2025. In Riga: - Zala Jugla project at Braila iela 23, Jugla - we will start the construction of phase I in the third quarter of 2025, building a total of 70 homes; - In the reporting year, we intend to start the construction of phase I of the Veidema Quarter, at Ganibu Dambis 17a, where a stock-office type development project is planned; - Eizhenijas iela 18 project - in the third quarter of this year, we will start the pre-sale of the residential development and in the fourth quarter we intend to start the construction of two apartment buildings, a total of 54 homes. Canada, Toronto Hepsor has made five investments in Toronto. For the first phase of all these development projects, detailed site plans are being prepared. The projects are progressing according to the planned schedule. The approval of the first plan, for the project named Weston, is expected in the third quarter of this year. As of August, there will be a number of important changes in the management of Hepsor AS. Martti Krass, the former Country Manager in Latvia, who has significantly contributed to Hepsor's business in Latvia over the past eight years, will join the Management Board of Hepsor AS. Gints Vanders will start as the Country Manager in Latvia. He is a member of the Management Board of Hepsor SIA from October 2024. Based on the decision of the General Meeting of Shareholders, Henri Laks, will join the Supervisory Board of Hepsor AS starting in August, to support the company's strategic development by contributing to management at a new level. The full unaudited consolidated interim report for Q2 and the first six months of 2025 is available on Hepsor's website: https://hepsor.ee/en/for-investors/stock/reports-2 (https://hepsor.ee/en/for- investors/stock/reports-2/) Consolidated statement of financial position ------------------------------------+------------+----------------+------------ in thousands of euros |30 June 2025|31 December 2024|30 June 2024 ------------------------------------+------------+----------------+------------ ------------------------------------+------------+----------------+------------ Assets | | | ------------------------------------+------------+----------------+------------ Current assets | | | ------------------------------------+------------+----------------+------------ Cash and cash equivalents | 3,005| 6,249| 4,731 ------------------------------------+------------+----------------+------------ Trade and other receivables | 1,028| 761| 1,170 ------------------------------------+------------+----------------+------------ Current loan receivables | 200| 200| 311 ------------------------------------+------------+----------------+------------ Inventories | 52,318| 64,141| 86,064 ------------------------------------+------------+----------------+------------ Total current assets | 56,551| 71,351| 92,276 ------------------------------------+------------+----------------+------------ Non-current assets | | | ------------------------------------+------------+----------------+------------ Property, plant and equipment | 299| 288| 183 ------------------------------------+------------+----------------+------------ Intangible assets | 1| 2| 4 ------------------------------------+------------+----------------+------------ Investment properties | 7,980| 7,980| 0 ------------------------------------+------------+----------------+------------ Financial investments | 7,821| 6,424| 2,668 ------------------------------------+------------+----------------+------------ Investments in joint ventures | 1| 0| 0 ------------------------------------+------------+----------------+------------ Non-current loan receivables | 3,604| 2,428| 2,161 ------------------------------------+------------+----------------+------------ Other non-current receivables | 467| 340| 271 ------------------------------------+------------+----------------+------------ Total non-current assets | 20,173| 17,462| 5,287 ------------------------------------+------------+----------------+------------ Total assets | 76,724| 88,813| 97,563 ------------------------------------+------------+----------------+------------ Liabilities and equity | | | ------------------------------------+------------+----------------+------------ Current liabilities | | | ------------------------------------+------------+----------------+------------ Loans and borrowings | 8,551| 23,336| 33,258 ------------------------------------+------------+----------------+------------ Current lease liabilities | 26| 52| 76 ------------------------------------+------------+----------------+------------ Prepayments from customers | 390| 724| 3,399 ------------------------------------+------------+----------------+------------ Trade and other payables | 6,122| 6,542| 6,226 ------------------------------------+------------+----------------+------------ Total current liabilities | 15,089| 30,654| 42,959 ------------------------------------+------------+----------------+------------ Non-current liabilities | | | ------------------------------------+------------+----------------+------------ Loans and borrowings | 35,031| 31,352| 29,622 ------------------------------------+------------+----------------+------------ Non-current lease liabilities | 162| 162| 29 ------------------------------------+------------+----------------+------------ Other non-current liabilities | 5,872| 4,635| 4,237 ------------------------------------+------------+----------------+------------ Total non-current liabilities | 41,065| 36,149| 33,888 ------------------------------------+------------+----------------+------------ Total liabilities | 56,154| 66,803| 76,847 ------------------------------------+------------+----------------+------------ Equity | | | ------------------------------------+------------+----------------+------------ Share capital | 3,855| 3,855| 3,855 ------------------------------------+------------+----------------+------------ Share premium | 8,917| 8,917| 8,917 ------------------------------------+------------+----------------+------------ Reserves | 385| 385| 385 ------------------------------------+------------+----------------+------------ Retained earnings | 7,413| 8,853| 7,559 ------------------------------------+------------+----------------+------------ Total equity | 20,570| 22,010| 20,716 ------------------------------------+------------+----------------+------------ incl. total equity attributable to | | | owners of the parent | 19,373| 20,912| 19,423 ------------------------------------+------------+----------------+------------ incl. non-controlling interest | 1,197| 1,098| 1,293 ------------------------------------+------------+----------------+------------ Total liabilities and equity | 76,724| 88,813| 97,563 ------------------------------------+------------+----------------+------------ Consolidated statement of profit and loss and other comprehensive income -----------------------------------------------+-------+-------+-------+------- in thousands of euros |6M 2025|6M 2024|Q2 2025|Q2 2024 -----------------------------------------------+-------+-------+-------+------- | | -----------------------------------------------+-------+-------+-------+------- Revenue | 22,063| 7,422| 13,857| 5,151 -----------------------------------------------+-------+-------+-------+------- Cost of sales (-) |-19,203| -7,045|-12,014| -4,811 -----------------------------------------------+-------+-------+-------+------- Gross profit | 2,860| 377| 1,843| 340 -----------------------------------------------+-------+-------+-------+------- Marketing expenses (-) | -448| -390| -169| -205 -----------------------------------------------+-------+-------+-------+------- Administrative expenses (-) | -918| -889| -506| -446 -----------------------------------------------+-------+-------+-------+------- Other operating income | 82| 70| 59| 25 -----------------------------------------------+-------+-------+-------+------- Other operating expenses (-) | -166| -24| -149| -6 -----------------------------------------------+-------+-------+-------+------- Operating profit (-loss) of the year | 1,410| -856| 1,078| -292 -----------------------------------------------+-------+-------+-------+------- Financial income | 157| 201| 108| 164 -----------------------------------------------+-------+-------+-------+------- Financial expenses (-) | -1,002| -871| -524| -433 -----------------------------------------------+-------+-------+-------+------- Profit before tax | 565| -1,526| 662| -561 -----------------------------------------------+-------+-------+-------+------- Corporate income tax | -283| 0| -283| 0 -----------------------------------------------+-------+-------+-------+------- Net profit (-loss) for the year | 282| -1,526| 379| -561 -----------------------------------------------+-------+-------+-------+------- Attributable to owners of the parent | -196| -1,526| 24| -647 -----------------------------------------------+-------+-------+-------+------- Non-controlling interest | 478| 0| 355| 86 -----------------------------------------------+-------+-------+-------+------- | | | | -----------------------------------------------+-------+-------+-------+------- Other comprehensive income (-loss) | | | | -----------------------------------------------+-------+-------+-------+------- Changes related to change of ownership | 0| 76| 0| 76 -----------------------------------------------+-------+-------+-------+------- Change in value of embedded derivatives with| | | | minority shareholders | -428| 0| -278| 0 -----------------------------------------------+-------+-------+-------+------- The effects of changes in foreign exchange| | | | rates | -292| 0| -131| 0 -----------------------------------------------+-------+-------+-------+------- Other comprehensive income (-loss) for the| | | | period | -720| 76| -409| 76 -----------------------------------------------+-------+-------+-------+------- Attributable to owners of the parent | -341| -44| -180| -44 -----------------------------------------------+-------+-------+-------+------- Non-controlling interest | -379| 120| -229| 120 -----------------------------------------------+-------+-------+-------+------- | | | | -----------------------------------------------+-------+-------+-------+------- Comprehensive income (-loss) for the period | -438| -1,450| -30| -485 -----------------------------------------------+-------+-------+-------+------- Attributable to owners of the parent | -537| -1,570| -156| -691 -----------------------------------------------+-------+-------+-------+------- Non-controlling interest | 99| 120| 126| 206 -----------------------------------------------+-------+-------+-------+------- | | | | -----------------------------------------------+-------+-------+-------+------- Earnings per share | | | | -----------------------------------------------+-------+-------+-------+------- Basic (euros per share) | -0.05| -0.40| 0,01| -0.17 -----------------------------------------------+-------+-------+-------+------- Diluted (euros per share) | -0.05| -0.40| 0,01| -0.17 -----------------------------------------------+-------+-------+-------+------- 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 fourteen 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 25 development projects with a total area of 178,200 m(2).