INVL Baltic Real Estate 6 Interim Unaudited Information

For the six months of 2022, the INVL Baltic Real Estate (the “Company”) group posted unaudited consolidated net income of €1.88 million and revenue of €1.64 million (6 months of 2021 consolidated net income of €750,000). euro, revenue was €1.24 million). A revaluation of property values ​​of €1.7 million had a positive impact on results. The unaudited net profit of the company itself reached €1.88 million in the six months of 2022 and €750,000 in the six months of 2021.

Additional Information:

Real estate investment company INVL Baltic Real Estate achieved a consolidated net profit of €1.88 million in the first half of the year. This is a 152% increase over the same period last year, when net profit was his €750,000. A revaluation of property values ​​of €1.7 million had a positive impact on results.

The company’s consolidated capital at the end of June this year was EUR 21.2 million. Shareholders’ equity per share he stood at 2.63 euros, an increase of 25.6% compared to the end of June 2021 (also taking into account the dividends paid).

The INVL Baltic Real Estate properties maintained even higher occupancy rates and improved operating income. Consolidated net operating income from property holdings in the first half of 2022 was €1.01 million, an increase of 46% compared to the same period last year (€690,000). Consolidated income increased by 32% from €1.64m, of which consolidated rental income from property holdings increased by 13% to €93m.

The largest property owned by INVL Baltic Real Estate is an office building at Palangos Street 4 in Vilnius, home to the company’s Talent Garden Vilnius co-working space. The building’s revenue in the first half of this year was 1.09 million euros, an increase of 45% over the same period last year. Zigis Business Center’s revenue increased by 60% to €240,000 in the same period in 2021.

Since the first half of the year, INVL Baltic Real Estate’s asset holdings amounted to 33.8 million, an increase of 14% compared to the same period last year (€29.6 million).

“This year, our focus has been on the former Communication Palace buildings on Palangos and Vilnius streets. We have approved and issued the design requirements for the renovation of the complex.Now that we have the design requirements, we will proceed to the next stage of development – the preparation of the technical design for the reconstruction of the building, ”said INVL Baltic Real. Vytautas Bakšinskas, Real Estate Fund Manager at INVL Asset Management, which manages Estate. .

He said there was also significant progress in the development of the property at 37 Vilnius Street in the first half of the year.

“The architectural, historical and polychromatic studies of this characteristic building in the Old Town of Vilnius have been completed and all its worth has been demonstrated. The value of the property was further boosted by a transaction completed in early June to acquire a stake in RE 1, after which INVL Baltic Real Estate became the sole owner of the property at 37 Vilnius Street. became.

One of INVL Baltic Real Estate’s latest transactions was the sale of the property, which was completed in early July. Don Mogurpa, owned by a real estate investment company and developing a 58-hectare (ha) Donmo Logistics and Industrial Park near Riga, has sold 3.4 hectares of land to him for €400,000.

According to the real estate fund manager, INVL Baltic Real Estate seeks further returns for investors from their commercial real estate investments by ensuring operating profit growth and cost optimization. The Fund’s assets under management have a reasonable expectation of continued growth in asset values.

About INVL Baltic Real Estate

INVL Baltic Real Estate owns properties in Vilnius and Riga. The 55-hectare Donmo Logistics and Industrial Park at the intersection of the A8 and A5 Riga highways, an office building in Vilnius Street, Lithuania’s capital, Old Town and Saures Miesteris. bypass road. The company’s properties had 92% to 100% occupancy at the end of June 2022.

INVL Baltic Real Estate’s current holdings total 28,000 square meters. It is worth 33.8 million euros.

Since its inception as a collective investment business (December 22, 2016), INVL Baltic Real Estate is one of the Baltic real estate funds open to private investors with the highest stable returns . The Fund operates as a closed-end investment company. The company is managed by He INVL, a leading investment management and life insurance group in the Baltic region. INVL Baltic Real Estate will operate as a closed-end investment company until 2046, with the possibility of an additional 20-year extension.

Person authorized to provide additional information:
Management company real estate fund manager
Vytautas Bakshinskas
e-mail [email protected]

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  • BRE_factsheet_2022 First half

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