Riga, Latvia, 2018-05-25 11:03 CEST (GLOBE NEWSWIRE) -- In Q1 2018, New Hanza Capital, AS group has operated at a profit of EUR 204 205, which is by 651% more compared to the same period in 2017. The achieved financial results match the plan and arise from the growth of income from leasing properties owned by the company.
Unaudited financial results:
- Group’s earnings in the three months of 2018 amounted to EUR 893 666. In comparison with the same period in 2017, they have grown by 247%;
- EBITDA (earnings before interest, enterprise income tax, depreciation, and amortisation, and fixed asset impairment) as at 31 March 2018 amount to EUR 338 127;
- As at 31 March 2018, the assets of the group have grown by 5.78%, reaching EUR 55.39 million.
In the reporting period, the number of investment properties owned by New Hanza Capital, AS has not changed. Instead of acquiring new objects, the company has been actively working on improvement and development of the existing investment properties. For example, there is currently a development concept is being created for the logistics centre at 462/464A Maskavas St., while the designing works will start in Q2 2018. Also, we continue developing reconstruction concept for the buildings at the territory of the former State Electrotechnical Factory (VEF) at 214B Brīvības St., 214M Brīvības St., and 1 Bērzaunes St.
It stands to mention that on 19 March 2018 New Hanza Capital, AS held an extraordinary shareholders’ meeting, when the new board of the company was elected and the number of the members of council was changed. The meeting took a decision to expand New Hanza Capital, AS Board to three board members. In the companies, starting from 20 March 2018 Edgars Miļūns works in the position of the Chairman of the Board, and Arnolds Romeiko and Aija Hermane-Sabule as Board Members, while the Council of New Hanza Capital, AS was decreased from four members to three members. Currently, Ernests Bernis is working in the position of Chairman of the Council, Edgars Pavlovičs — as Deputy Chairman of the Council, and Māris Kannenieks — as Member of the Council.
Also, in the first months of this year New Hanza Capital, AS sold 7500 shares (30%) of SG Capital Partners AIFP, SIA setting the price at EUR 2.00 per one share, which conforms to the market value.
This announcement contains inside information.
New Hanza Capital, AS is a company founded in 2006. The objectives of its operation includes investing own and third party funds in commercial real estate objects to achieve sustainable increase in income from renting the premises, long-term capital growth and enlarging of the value of properties. The company’s real estate portfolio includes office buildings at VEF neighbourhood, airBaltic central office at Riga International Airport, logistics centres in Riga and Ķekava Region and other objects. The total leasable area of the premises exceeds 56.7 thousand square metres.
Jānis Bunte PR Specialist Tel.: +371 6777 5432
