Exceptional Growth at Akropolis Group in 2024
In an impressive display of resilience and strategic growth, Akropolis Group enjoyed a prosperous year in 2024. The company, which operates five shopping and entertainment centers in multiple regions, welcomed over 44 million visitors throughout the year. The total tenant turnover surpassed EUR 1.2 billion, marking a historic milestone in the Group's operational journey. Consolidated EBITDA reached an impressive EUR 87.8 million.
Focus on Attracting Visitors and Tenants
Gabriel? Sapon, the CEO of Akropolis Group, emphasized the Group's commitment to providing shopping and entertainment centers that are appealing to both visitors and tenants. "Last year, our primary focus involved renovating existing centers and opening new shops. With consistent investments in infrastructure and partnerships, we have introduced sustainable solutions that are essential for today’s market. Despite the numerous changes, the visitor footfall remained consistent, while tenant turnover reached impressive heights for the first time in our history," she remarked.
Financial Highlights and Stability
The Group's consolidated rental income in 2024 soared to EUR 91.4 million, reflecting a 9% increase from the previous year. The steady rise in revenue showcases the effectiveness of the management's strategy. Notably, Akropolis centers achieved a commendable occupancy rate of 98.3% across their leased areas.
Credit Ratings Reflect Financial Health
In a testament to its financial stability, Akropolis Group retained solid credit ratings of BB+ with a stable outlook from both S&P Global Ratings and Fitch Ratings. This recognition underlines the effectiveness of the Group's financial management and operational stability.
Investments in Development and Renovations
2024 marked an important year for investments in development for Akropolis Group. The renovation project for the common spaces at Klaip?da Akropolis, which had received an investment of EUR 8 million, concluded successfully, focusing on enhancing over 11,000 square meters with modern facilities. Key tenants also undertook significant revamps, enlivening the shopping experience.
Expansion Projects
A highlight of the year was the expansion of the Vilnius Akropolis, which included the addition of a new commercial structure that now houses an expanded Sportland store, the largest of its kind in Lithuania. Across all five centers, a total of 135 new and revamped shops and entertainment venues were introduced, enhancing the shopping options available to consumers.
Continuous Improvement and Sustainability Initiatives
As part of its commitment to sustainability, Akropolis Group has made significant strides in integrating environmentally-friendly practices. The completion of the BREEAM In-Use standard recertification for its centers underscores this commitment, as all Akropolis sites are now recognized at the Very Good level.
Strategic Developments for Future Projects
Looking ahead, Akropolis Group is planning to accelerate its development initiatives with the upcoming multifunctional complex, Akropolis Vingis in Vilnius. The city municipality's approval for construction marks a pivotal step forward, with plans in place to enhance local infrastructure and update investment strategies as the project progresses.
Focus on Creating Visitor Value
Gabriel? Sapon reiterated the importance of enhancing visitor experience and creating value for both shoppers and tenants. The Group aims to attract leading brands to their centers while ensuring customer satisfaction through innovative shopping experiences.
Commitment to Green Finance
In early 2025, Akropolis Group launched a Green Finance Framework, aligning its financial activities with its sustainability goals. This initiative opens the door for funding projects that meet specified environmental criteria, further embedding sustainability into the core business model.
Frequently Asked Questions
What were Akropolis Group's visitor numbers in 2024?
Akropolis Group welcomed over 44 million visitors throughout the year.
What is the total tenant turnover achieved in 2024?
The total tenant turnover exceeded EUR 1.2 billion for the first time in the Group's history.
What initiatives are Akropolis Group taking for sustainability?
They have implemented energy-saving measures, achieved BREEAM certification, and developed a Green Finance Framework.
What is the occupancy rate of Akropolis centers?
The occupancy rate of Akropolis centers stands at an impressive 98.3%.
Who is the CEO of Akropolis Group?
The CEO of Akropolis Group is Gabriel? Sapon.
