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Hepsor AS
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254900NNCQC3L9WR9P45
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10113
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Esitamise kuupäev ja aeg
15.02.2023 07:00:00
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Hepsor ASi 2022. aasta IV kvartali ja 12 kuu konsolideeritud auditeerimata vahearuanne
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Hepsori 2022. aasta konsolideeritud müügitulu ulatus 12,9 miljoni euroni (sh 7,2 miljonit eurot 2022. aasta neljandas kvartalis) ja puhaskasumiks kujunes 1,3 miljonit eurot (sh puhaskasum 1,5 miljonit eurot 2022. aasta neljandas kvartalis). 2022. aastal lõppes kontsernil kolm elukondlikku ning valmis kolm ärikinnisvara projekti. Majandusaasta müügitulu on tekkinud peamiselt lõppenud elukondlike arendusprojektide müügist. 2022. aasta lõpu seisuga oleme koduostjatele üle andnud Lätis 45 korterit, sh 26 korterit Str?lnieku 4b, 18 korterit Balozhu 9 ning 1 korter ?genskalna 24 arendusprojektis ning Eestis 40 korterit Paevälja Hoovimajade arendusprojektis. Kontserni müügitulus ei kajastu Priisle Kodu arendusprojektis müüdud 76 korterit ning 1487 m(2) suuruse Selveri kaupluse äripinna müük. Projekti tulem kajastatakse kapitaliosaluse meetodil. Kokku andsime 2022. aastal Eestis ja Lätis koduostjatele üle 161 uut kodu. Aasta lõpus andsime kaasaegsele ja uudse kontseptsiooniga kliinikule üle Büroo113 üüripinnad, mille puhul on rohelise mõtteviisi lahendusi (maa-kütab- maa-jahutab, vihmavee kasutamine, energiatõhus arhitektuur, väga hea sisekliima, päikeseenergia jne) esmakordselt kasutatud ka kesklinna kõrghoone puhul. Samuti sai Riias valmis StockOffice U30, mille 3645 m2 on 100% välja üüritud. 2022. aasta kolmandas kvartalis korrigeerisime 2022.-2024. majandusaasta prognoose seoses muutustega majanduskeskkonnas ja tingituna kinnisvaraturu tehinguaktiivsuse langusest ning arendusprojektide ettevalmistamise perioodide pikenemisest. 2022. aasta prognoosi korrigeerimisel lähtusime eeldustest, et Hepsor ei müü ühtegi kolmest valmivast ärihoonest (Büroo113, Grüne Maja, Ulbrokas 30) ning et 2022. aasta lõpuks on müüdud 34 korterit Str?lnieku 4b arendusprojektis ning 48 korterit Paevälja Hoovimajade arendusprojektis. Kuna viimase puhul langes asjaõiguslepingute sõlmimine detsembrisse 2022, siis jõudsime sõlmida aasta lõpuks 40 asjaõiguslepingut. Seisuga 31. jaanuar 2023 oli Paevälja Hoovimajade projektis asjaõiguslepinguid sõlmitud juba 49 korterile, mistõttu liigub selle projekti osade korterite müügitulu 2023. aasta esimesse kvartalisse. Str?lnieku 4B arendusprojektis oleme 2022. aasta lõpu seisuga müünud 36 korterit, mida on kahe korteri võrra enam kui prognoositud. Võrreldes prognoosiga on eelmainitud põhjustel, peamiselt Paevälja Hoovimajade 8 korteri müügitehingu lükkumise tõttu 2023. aastasse, kontserni käive 1,1 miljonit eurot ja kasum 0,3 miljonit eurot väiksem. Hepsoril on Eestis ja Lätis ehituses neli elukondlikku arendusprojekti, milles on kokku 335 uut korterit. Seisuga 31. jaanuar 2023 oleme M?rupes D?rzsi (92 korterit) arendusprojektis Riia lähistel võlaõigus- ja broneerimislepingud sõlminud 75 korterile (82%). Teises Riia arendusprojektis, Kuld?gas Parks (116 korterit), oleme lepinguid sõlminud 103 korterile (89%). Mõlemad projektid valmivad 2023. aasta teises kvartalis. Eestis on lõpule jõudnud Paevälja Hoovimajade arendusprojekt, mille raames rajasime kaks kortermaja 96 korteriga. Projekti esimene etapp 48 korteriga valmis 2022. aasta lõpus ning teine etapp 2023. aasta esimeses kvartalis. Seisuga 31. jaanuar 2023 oleme asjaõiguslepingud sõlminud 49 korterile (51%) ja võlaõiguslepingud 28 korterile (29%). Korterite asjaõiguslepingute sõlmimine jätkub ka peale käesoleva aruande esitamist ning saadud müügitulu kajastub kontserni 2023. aasta esimese kvartali tulemustes. Uutest arendusprojektidest alustasime 2022. aasta kolmandas kvartalis Ojakalda Kodude ehitusega, kuhu rajame 101 uut avarat perekorterit (võlaõiguslepingud on sõlmitud 28 korterile ehk 28%le korterite mahust) ning neljandas kvartalis 26 korteriga Lilleküla Kodud arendusprojekti ehitusega. 2023. aasta esimeses kvartalis alustame Tallinnas Manufaktuuri kvartalis 154 korteri ehitamisega ning Riias Nameja Rezidence 38 korteri ehitamisega. Mõlemad projektid on juba müügis ning mitmed võlaõigus- ja broneerimislepingud on sõlmitud. Ärikinnisvara arendusprojektidest on Tallinnas valmimas rohelise mõtteviisiga Grüne Maja. Büroohoone on suures osas aktiivses kasutuses ja viimased üürnikud kolivad uutele pindadele hiljemalt 2023. aasta teises kvartalis. Kokku lisasime 2022. aastal oma arendusportfelli ligikaudu 171 korteri jagu arendusmahtu, sh 40 Riias ja 131 Tallinnas. Manufaktuuri kvartalis asuvale Manufaktuuri 12 kinnistule rajame koos pikaajalise koostööpartneri Tolaram Grupiga 60 uut korterit. Lilleküla Kodude 26 korteriga arendusprojekti ehitamisega alustasime juba detsembris 2022. Aadressidel Alvari 1a ja Alvari 5 ostetud kinnistutele saab rajada ligikaudu 45 uut kodu. Lätis lisandus J?rmala Gatve tänaval kinnistu, kuhu planeerime kolmekorruseline A-energiaklassi eluhoone 40 uue koduga. Viimased aastad on kinnisvarasektoris olnud turbulentsed. Nõudlus kinnisvara järele on liikunud COVID-19-st tingitud ebakindlusest 2020. aastal rekordeid püstitanud müüginumbriteni 2021. aasta lõpus. Lõppenud aastal mõjutasid Hepsori koduturgudel Eestis ja Lätis kinnisvaraturgu Vene-Ukraina sõda, hüppeliselt kasvanud energiahinnad ja inflatsioon ning intressikulude tõus. Tarbijate kindlustunde langus, mis jõudis ajalooliselt madalaimale tasemele 2022. aasta sügisel, näitab sealt alates aga mõõdukat paranemise trendi. Hepsori 2023. aasta esimese kuu müügitulemused peegeldavad eelnevat trendi. Lätis oleme 2023. aasta esimesel kuul müünud juba ligikaudu 30 korterit (arendusprojektid M?rupe D?rzs ja Kuld?gas Parks) ning samas suurusjärgus oleme klientidega broneerimis- ja võlaõiguslepinguid sõlminud ka Eestis (Lilleküla Kodud, Manufaktuuri 7 ja Ojakalda Kodud). Hepsori juhtkond on tulemusega igati rahul. Kliendid ei langeta täna küll kiireid ostuotsuseid, kuid huvi meie projektide vastu on suur, mistõttu oleme mõõdukalt optimistlikud ning jätkame olemasolevate ja uute projektide elluviimist. Usume, et praegust ja lähemate kvartalite pigem soodsat ehitushinda tasub arendusprojektide elluviimiseks ära kasutada. Hepsori klientide huvi uute arendusprojektide vastu jälgides tunnetame, et uusarenduste hindade languseks või kliendipoolseteks hinnaläbirääkimisteks on ruumi kui üldse, siis mõõdukalt. Konsolideeritud finantsseisundi aruanne +---------------------------------------------------+------------+------------+ | tuhandetes eurodes | 31.12.2022 | 31.12.2021 | +---------------------------------------------------+------------+------------+ | Varad | | | +---------------------------------------------------+------------+------------+ | Käibevarad | | | +---------------------------------------------------+------------+------------+ | Raha ja raha ekvivalendid | 3 754 | 10 889 | +---------------------------------------------------+------------+------------+ | Nõuded ja ettemaksed | 1 731 | 652 | +---------------------------------------------------+------------+------------+ | Lühiajalised laenunõuded | 0 | 2 388 | +---------------------------------------------------+------------+------------+ | Varud | 69 760 | 37 237 | +---------------------------------------------------+------------+------------+ | Käibevarad kokku | 75 245 | 51 166 | +---------------------------------------------------+------------+------------+ | Põhivarad | | | +---------------------------------------------------+------------+------------+ | Materiaalne põhivara | 314 | 229 | +---------------------------------------------------+------------+------------+ | Immateriaalne põhivara | 7 | 0 | +---------------------------------------------------+------------+------------+ | Finantsinvesteeringud | 2 | 402 | +---------------------------------------------------+------------+------------+ | Investeeringud sidusettevõttesse | 1 086 | 0 | +---------------------------------------------------+------------+------------+ | Pikaajalised laenunõuded | 1 766 | 3 408 | +---------------------------------------------------+------------+------------+ | Muud pikaajalised nõuded | 30 | 140 | +---------------------------------------------------+------------+------------+ | Põhivarad kokku | 3 205 | 4 179 | +---------------------------------------------------+------------+------------+ | Varad kokku | 78 450 | 55 345 | +---------------------------------------------------+------------+------------+ | Kohustised ja omakapital | | | +---------------------------------------------------+------------+------------+ | Lühiajalised kohustised | | | +---------------------------------------------------+------------+------------+ | Lühiajalised laenukohustised | 22 565 | 5 501 | +---------------------------------------------------+------------+------------+ | Lühiajalised rendikohustised | 127 | 123 | +---------------------------------------------------+------------+------------+ | Ettemaksed klientidelt | 3 054 | 1 164 | +---------------------------------------------------+------------+------------+ | Võlad tarnijatele ja muud võlad | 4 008 | 5 539 | +---------------------------------------------------+------------+------------+ | Lühiajalised kohustised kokku | 29 754 | 12 327 | +---------------------------------------------------+------------+------------+ | Pikaajalised kohustised | | | +---------------------------------------------------+------------+------------+ | Pikaajalised laenukohustised | 26 015 | 22 862 | +---------------------------------------------------+------------+------------+ | Pikaajalised rendikohustised | 68 | 66 | +---------------------------------------------------+------------+------------+ | Muud pikaajalised kohustised | 2 290 | 1 053 | +---------------------------------------------------+------------+------------+ | Pikaajalised kohustised kokku | 28 373 | 23 981 | +---------------------------------------------------+------------+------------+ | Kohustised kokku | 58 127 | 36 308 | +---------------------------------------------------+------------+------------+ | Omakapital | | | +---------------------------------------------------+------------+------------+ | Aktsia-/osakapital | 3 855 | 3 855 | +---------------------------------------------------+------------+------------+ | Ülekurss | 8 917 | 8 917 | +---------------------------------------------------+------------+------------+ | Jaotamata kasum | 7 551 | 6 265 | +---------------------------------------------------+------------+------------+ | Omakapital kokku | 20 323 | 19 037 | +---------------------------------------------------+------------+------------+ | sh emaettevõtte omanikele kuuluv omakapital kokku | 19 937 | 18 904 | +---------------------------------------------------+------------+------------+ | sh vähemusosanikele kuuluv omakapital kokku | 386 | 133 | +---------------------------------------------------+------------+------------+ | Kohustised ja omakapital kokku | 78 450 | 55 345 | +---------------------------------------------------+------------+------------+ Konsolideeritud koondkasumi aruanne +-------------------------------+------------+------------+------+-------------+ | | | |IV kv |Korrigeeritud| | tuhandetes eurodes |12 kuud 2022|12 kuud 2021| 2022 |IV kv 2021 | +-------------------------------+------------+------------+------+-------------+ | | | | | | +-------------------------------+------------+------------+------+-------------+ |Müügitulu | 12 870| 14 961| 7 248| 8 015| +-------------------------------+------------+------------+------+-------------+ |Müüdud kaupade ja teenuste kulu| | | | | |(-) | -11 096| -11 902|-5 996| -6 111| +-------------------------------+------------+------------+------+-------------+ |Brutokasum | 1 774| 3 059| 1 252| 1 904| +-------------------------------+------------+------------+------+-------------+ |Turustuskulud (-) | -446| -271| -167| -94| +-------------------------------+------------+------------+------+-------------+ |Üldhalduskulud (-) | -1 095| -942| -331| -373| +-------------------------------+------------+------------+------+-------------+ |Muud äritulud | 70| 83| 23| 27| +-------------------------------+------------+------------+------+-------------+ |Muud ärikulud (-) | -68| -49| -23| 0| +-------------------------------+------------+------------+------+-------------+ |Ärikasum | 235| 1 880| 754| 1 464| +-------------------------------+------------+------------+------+-------------+ |Finantstulud | 1 889| 321| 1 040| 175| +-------------------------------+------------+------------+------+-------------+ |Finantskulud (-) | -787| -512| -333| -193| +-------------------------------+------------+------------+------+-------------+ |Kasum enne tulumaksu | 1 337| 1 689| 1 461| 1 446| +-------------------------------+------------+------------+------+-------------+ |Tasumisele kuuluv tulumaks | -6| -16| -1| 0| +-------------------------------+------------+------------+------+-------------+ |Edasilükkunud tulumaks | 0| 60| 0| 105| +-------------------------------+------------+------------+------+-------------+ |Aruandeperioodi puhaskasum | 1 331| 1 733| 1 460| 1 551| +-------------------------------+------------+------------+------+-------------+ | Emaettevõtte omanikele| | | | | | kuuluv osa puhaskasumis/-| | | | | | kahjumis| 1 396| -22| 1 537| 153| +-------------------------------+------------+------------+------+-------------+ | Vähemusosalusele kuuluv osa| | | | | | puhaskasumis/-kahjumis| -65| 1 755| -77| 1 398| +-------------------------------+------------+------------+------+-------------+ |Muu koondkasum/- kahjum | | | | | +-------------------------------+------------+------------+------+-------------+ |Omanikuvahetusega seotud | | | | | |muutused | -26| 70| -161| 0| +-------------------------------+------------+------------+------+-------------+ |Vähemusosaluse varjatud | | | | | |tuletisinstrumentide väärtuse | | | | | |muutus | 10| -1 815| -8| -1 389| +-------------------------------+------------+------------+------+-------------+ |Aruandeperioodi muu koondkasum| | | | | |kokku | -16| -1 745| -169| -1 389| +-------------------------------+------------+------------+------+-------------+ | Emaettevõtte omanikele| | | | | | kuuluv osa muu koondkasumis/-| | | | | | kahjumis| -363| 68| -129| 0| +-------------------------------+------------+------------+------+-------------+ | Vähemusosalusele kuuluv osa| | | | | | koondkasumis/-kahjumis| 347| -1 813| -40| -1 389| +-------------------------------+------------+------------+------+-------------+ |Aruandeperioodi koondkasum | | | | | |kokku | 1 315| -12| 1 291| 162| +-------------------------------+------------+------------+------+-------------+ | Emaettevõtte omanikele| | | | | | kuuluv osa koondkasumis/-| | | | | | kahjumis| 1 033| 46| 1 408| 153| +-------------------------------+------------+------------+------+-------------+ | Vähemusosalusele kuuluv osa| | | | | | koondkasumis| 282| -58| -117| 9| +-------------------------------+------------+------------+------+-------------+ |Kasum aktsia kohta | | | | | +-------------------------------+------------+------------+------+-------------+ | Tava (eurot aktsia kohta) | 0,36| -0,01| 0,40| 0,04| +-------------------------------+------------+------------+------+-------------+ | Lahustatud (eurot aktsia | | | | | |kohta) | 0,36| -0,01| 0,40| 0,04| +-------------------------------+------------+------------+------+-------------+ Anneli Simm Investorsuhete juht Telefon: +372 5615 7170 e-post: [email protected] (https://www.globenewswire.com/Tracker?data=Dm17qpkApt0h5NJfE_zXZlx- vQWwfSt24T4aMzOs9dmyoRHtjJ9m8WQaVGzXITb_E1mNr2FsXg6ztCiJLdMH2A==) Hepsor AS (www.hepsor.ee (http://www.hepsor.ee)) on üks kiiremini kasvavaid elukondliku ja äri kinnisvara arendajaid Eestis ja Lätis. Üheteistkümne tegutsemisaasta jooksul oleme loonud üle 1500 kodu ja 32 000 m(2) äripinna. 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 26 arendusprojekti kogupindalaga 176 000 m(2).
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Hepsor AS: 2022 IV quarter and 12 months consolidated unaudited interim report
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The consolidated sales revenue of Hepsor for the 2022 financial year amounted to 12.9 million euros (including 7.2 million euros in Q4 2022) and the net profit was 1.3 million euros (including a net profit of 1.5 million euros in Q4 2022). In 2022, the Group completed three residential and three commercial property projects. The sales revenue for the financial year has been mainly generated from the sale of completed residential development projects. As of the end of 2022, we have handed over 45 apartments to home buyers in Latvia, including 26 apartments in the 4b Str?lnieku, 18 apartments in the 9 Balozhu and 1 apartment in the 24 ?genskalna development projects, and 40 apartments in the Paevälja Hoovimajade development project in Estonia. The sale of 76 apartments and 1,487 sqm of commercial space in the Priisle Kodu development project is not reflected in the Group's sales revenue as the result of the project is recorded using equity method of accounting. In total, we handed over 161 new homes to home buyers in Estonia and Latvia in 2022. At the end of the year, we handed over the Büroo113 commercial to a modern clinic using an innovative concept. This is the first time that green solutions (geothermal heating and cooling, rainwater use, energy-efficient architecture, excellent indoor climate, solar energy, etc.) have been applied in a city centre high-rise. In Riga, a stock office type commercial building was completed at 30 Ulbrokas 3,645 sqm of which are fully covered with lease agreements. In Q3 2022, we adjusted the 2022-2024 performance forecasts due to the changes in the economic environment, a decrease in real estate transaction activity and the extension of time needed for the preparation of development projects. When adjusting the forecast for 2022, we assumed that Hepsor would not sell any of the three commercial buildings under construction (Büroo113, Grüne Maja, 30 Ulbrokas) and that by the end of 2022, 34 apartments in the 4b Str?lnieku development project and 48 apartments in the Paevälja Hoovimajad development project would have been sold. As the conclusion of real right contracts for Paevälja Hoovimajad started in December 2022, we were able to conclude 40 real right contracts by the end of the year. As of 31 January 2023, real right contracts had already been concluded for 49 apartments in the Paevälja Hoovimaja development project and therefore the sales revenue for some apartments will be recorded in Q1 2023. In the 4b Str?lnieku development project, we have sold 36 apartments as of the end of 2022, which is two apartments more than forecast. Due to aforementioned reasons, the Group sales revenue and profit are 1.1 million euros and 0.3 million euros lower than forecast, respectively, mainly due to the postponement of the sale of eight apartments in Paevälja Hoovimajade until 2023. Hepsor has four residential development projects in Estonia and Latvia, with a total of 335 new apartments. As of 31 January 2023, contracts under the law of obligations and reservation agreements have been signed for 75 apartments (82%) in the M?rupes D?rzs development project (92 apartments) near Riga. In the Kuld?gas Parks (116 apartments) project in Riga, contracts have been signed for 103 apartments (89%). Both projects will be completed in Q2 2023. In Estonia, we have completed the construction of the Paevälja Hoovimajad development project, which includes two apartment buildings with a total of 96 apartments. The first phase of the project with 48 apartments was completed at the end of 2022 and the second phase in Q1 2023. As of 31 January 2023, real right contracts have been signed for 49 apartments (51%) and contracts under the law of obligations for 28 apartments (29%). The signing of real right contracts will continue also after the submission of this report, and the respective sales revenue will be reflected in the Group's financial results for Q1 2023. We started with new development projects, including the construction of Ojakalda Kodud with 101 new spacious family apartments (contracts under the law of obligations have been concluded for 28 apartments, or 28% of the total) in Q3 2022, and the construction of the Lilleküla Kodud development project with 26 apartments in Q4 2023. In Q1 2023, we will start the construction of 171 apartments in the Manufaktuuri Quarter in Tallinn and 38 apartments in the Nameja Rezidence development project in Riga. Both projects are already available for sale and several contracts under the law of obligations as well as reservation agreements have been signed. The commercial real estate development project, Grüne Maja is being completed in Tallinn following a green concept. The office building is largely in active use and the last tenants are expected to move to the new premises in Q2 2023 at the latest. In total, we added approximately 156 apartments to our development portfolio in 2022, including 40 in Riga and 131 in Tallinn. Approximately 60 new apartments will be built on the 12 Manufaktuuri property in the Manufaktuuri Quarter together with our long-term cooperation partner Tolaram Grupp. We started the construction of the Lilleküla Kodud development project with 26 apartments already in December 2022. Up to 45 new homes can be built on the properties purchased at 1a Alvari and 5 Alvari. In Latvia, a property was added on J?rmala Gatve, where we are planning to build an energy class A three-storey residential building with 40 new homes. Recent years have been turbulent in the real estate sector. Demand for real estate has moved from uncertainty due to Covid-19 in 2020 to record high sales in late 2021. In the past year, the real estate market in Hepsor's home markets in Estonia and Latvia was affected by the Russo-Ukrainian war, skyrocketing energy prices and inflation, and rising interest costs. However, the decline in consumer confidence, which reached its historical low in the autumn of 2022, shows a moderate improvement trend since then. The sales revenue of Hepsor for the first month of 2023 reflects the previously mentioned trend. In Latvia, in the first month of 2023, we have already sold approximately 30 apartments (the M?rupes D?rzs and Kuld?gas Parks development projects) and have signed an almost equal amount of reservation agreements and contracts under the law of obligations with customers in Estonia (Lilleküla Kodud, 7 Manufaktuuri and Ojakalda Kodud). Hepsor's management is highly satisfied with the result. Customers do not currently make quick purchase decisions, but interest in our projects is high, which makes us moderately optimistic, and we can continue with existing and new projects. We believe that the rather favourable construction prices in the current and coming quarters are worth using to facilitate development projects. When monitoring the interest level among Hepsor's customers in new development projects, we feel that there is moderate space for a drop in the prices of new developments or for price negotiations initiated by customers. Consolidated statement of financial position +--------------------------------------------+----------------+----------------+ | in thousands of euros |31 December 2022|31 December 2021| +--------------------------------------------+----------------+----------------+ |Assets | | | +--------------------------------------------+----------------+----------------+ |Current assets | | | +--------------------------------------------+----------------+----------------+ |Cash and cash equivalents | 3,754| 10,889| +--------------------------------------------+----------------+----------------+ |Trade and other receivables | 1,731| 652| +--------------------------------------------+----------------+----------------+ |Current loan receivables | 0| 2,388| +--------------------------------------------+----------------+----------------+ |Inventories | 69,760| 37,237| +--------------------------------------------+----------------+----------------+ |Total current assets | 75,245| 51,166| +--------------------------------------------+----------------+----------------+ |Non-current assets | | | +--------------------------------------------+----------------+----------------+ |Property, plant and equipment | 314| 229| +--------------------------------------------+----------------+----------------+ |Intangible assets | 7| 0| +--------------------------------------------+----------------+----------------+ |Financial investments | 2| 402| +--------------------------------------------+----------------+----------------+ |Investments in associates | 1,086| 0| +--------------------------------------------+----------------+----------------+ |Non-current loan receivables | 1,766| 3,408| +--------------------------------------------+----------------+----------------+ |Other non-current receivables | 30| 140| +--------------------------------------------+----------------+----------------+ |Total non-current assets | 3,205| 4,179| +--------------------------------------------+----------------+----------------+ |Total assets | 78,450| 55,345| +--------------------------------------------+----------------+----------------+ |Liabilities and equity | | | +--------------------------------------------+----------------+----------------+ |Current liabilities | | | +--------------------------------------------+----------------+----------------+ |Loans and borrowings | 22,565| 5,501| +--------------------------------------------+----------------+----------------+ |Current lease liabilities | 127| 123| +--------------------------------------------+----------------+----------------+ |Prepayments from customers | 3,054| 1,164| +--------------------------------------------+----------------+----------------+ |Trade and other payables | 4,008| 5,539| +--------------------------------------------+----------------+----------------+ |Total current liabilities | 29,754| 12,327| +--------------------------------------------+----------------+----------------+ |Non-current liabilities | | | +--------------------------------------------+----------------+----------------+ |Loans and borrowings | 26,015| 22,862| +--------------------------------------------+----------------+----------------+ |Non-current lease liabilities | 68| 66| +--------------------------------------------+----------------+----------------+ |Other non-current liabilities | 2,290| 1,053| +--------------------------------------------+----------------+----------------+ |Total non-current liabilities | 28,373| 23,981| +--------------------------------------------+----------------+----------------+ |Total liabilities | 58,127| 36,308| +--------------------------------------------+----------------+----------------+ |Equity | | | +--------------------------------------------+----------------+----------------+ |Share capital | 3,855| 3,855| +--------------------------------------------+----------------+----------------+ |Share premium | 8,917| 8,917| +--------------------------------------------+----------------+----------------+ |Retained earnings | 7,551| 6,265| +--------------------------------------------+----------------+----------------+ |Total equity | 20,323| 19,037| +--------------------------------------------+----------------+----------------+ |incl. total equity attributable to owners of| | | |the parent | 19,937| 18,904| +--------------------------------------------+----------------+----------------+ |incl. non-controlling interest | 386| 133| +--------------------------------------------+----------------+----------------+ |Total liabilities and equity | 78,450| 55,345| +--------------------------------------------+----------------+----------------+ Consolidated statement of profit and loss and other comprehensive income +----------------------------------------+--------+--------+-------+-----------+ | | | | | Q4 2021 | | in thousands of euros |12M 2022|12M 2021|Q4 2022|Adjusted | +----------------------------------------+--------+--------+-------+-----------+ | | | | | | +----------------------------------------+--------+--------+-------+-----------+ |Revenue | 12,870| 14,961| 7,248| 8,015| +----------------------------------------+--------+--------+-------+-----------+ |Cost of sales (-) | -11,096| -11,902| -5,996| -6,111| +----------------------------------------+--------+--------+-------+-----------+ |Gross profit | 1,774| 3,059| 1,252| 1,904| +----------------------------------------+--------+--------+-------+-----------+ |Marketing expenses (-) | -446| -271| -167| -94| +----------------------------------------+--------+--------+-------+-----------+ |Administrative expenses (-) | -1,095| -942| -331| -373| +----------------------------------------+--------+--------+-------+-----------+ |Other operating income | 70| 83| 23| 27| +----------------------------------------+--------+--------+-------+-----------+ |Other operating expenses (-) | -68| -49| -23| 0| +----------------------------------------+--------+--------+-------+-----------+ |Operating profit (-loss) of the year | 235| 1,880| 754| 1,464| +----------------------------------------+--------+--------+-------+-----------+ |Financial income | 1,889| 321| 1,040| 175| +----------------------------------------+--------+--------+-------+-----------+ |Financial expenses (-) | -787| -512| -333| -193| +----------------------------------------+--------+--------+-------+-----------+ |Profit before tax | 1,337| 1,689| 1,461| 1,446| +----------------------------------------+--------+--------+-------+-----------+ |Current income tax | -6| -16| -1| 0| +----------------------------------------+--------+--------+-------+-----------+ |Deferred income tax | 0| 60| 0| 105| +----------------------------------------+--------+--------+-------+-----------+ |Net profit for the year | 1,331| 1,733| 1,460| 1,551| +----------------------------------------+--------+--------+-------+-----------+ | Attributable to owners of the parent| 1,396| -22| 1,537| 153| +----------------------------------------+--------+--------+-------+-----------+ | Non-controlling interest | -65| 1,755| -77| 1,398| +----------------------------------------+--------+--------+-------+-----------+ |Other comprehensive income (-loss) | | | | | +----------------------------------------+--------+--------+-------+-----------+ |Changes related to change of ownership | -26| 70| -161| 0| +----------------------------------------+--------+--------+-------+-----------+ |Change in value of embedded derivatives | | | | | |with minority shareholders | 10| -1,815| -8| -1,389| +----------------------------------------+--------+--------+-------+-----------+ |Other comprehensive income (-loss) for | | | | | |the period | -16| -1,745| -169| -1,389| +----------------------------------------+--------+--------+-------+-----------+ | Attributable to owners of the parent| -363| 68| -129| 0| +----------------------------------------+--------+--------+-------+-----------+ | Non-controlling interest | 347| -1,813| -40| -1,389| +----------------------------------------+--------+--------+-------+-----------+ |Comprehensive income (-loss) for the | | | | | |period | 1,315| -12| 1,291| 162| +----------------------------------------+--------+--------+-------+-----------+ | Attributable to owners of the parent| 1,033| 46| 1,408| 153| +----------------------------------------+--------+--------+-------+-----------+ | Non-controlling interest | 282| -58| -117| 9| +----------------------------------------+--------+--------+-------+-----------+ |Earnings per share | | | | | +----------------------------------------+--------+--------+-------+-----------+ | Basic (euros per share) | 0.36| -0.01| 0.40| 0.04| +----------------------------------------+--------+--------+-------+-----------+ | Diluted (euros per share) | 0.36| -0.01| 0.40| 0.04| +----------------------------------------+--------+--------+-------+-----------+ Anneli Simm Head of Investor Relations Phone: +372 5615 7170 e-mail: [email protected] Hepsor AS (www.hepsor.ee) is one of the fastest growing residential and commercial real estate developers in Estonia and Latvia. Over the last eleven years Hepsor has developed more than 1,500 homes and 32,000 m(2) of commercial space. Hepsor has been 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 26 development projects with a total sellable space of 176,000 m(2).