UAB Kvartalas Reports Financial Progress and Events
UAB Kvartalas Releases Financial Statements for Recent Period
UAB Kvartalas publishes its interim financial statements for the six-month period concluding recently. This report highlights the company's ongoing projects and financial developments.
Company Overview and Activities
The primary focus of UAB Kvartalas revolves around real estate development and construction. A key asset in its portfolio is a substantial commercial land plot, which is currently being transformed into a modern office building situated on a prominent avenue. This upcoming office facility will encompass over 19,000 square meters of gross building area, illustrating the company’s commitment to significant urban development.
Major Events in the First Half of the Year
Several key milestones were reached during the first half of the year that underline the company’s proactive approach to development:
- On 1 April, UAB Kvartalas successfully distributed bonds valued at EUR 12 million, aimed at funding the ambitious business center project known as ‘S?varž?l?’.
- By 22 April, the construction of the business center was reported to be 32% complete, demonstrating the progress being made.
- Furthermore, on 20 June, the company distributed additional bonds amounting to EUR 10.1 million to further finance the ongoing development of the ‘S?varž?l?’ project.
Significant Developments Post-First Half
After the conclusion of the first half of the year, one notable change occurred in the company’s leadership:
- On 1 August, there was a pivotal appointment of Marius Žemaitis as the new director, a strategic move expected to guide the company forward.
Financial Commitments and Investments
As the project develops, UAB Kvartalas has dedicated substantial financial resources toward the 'S?varž?l?' business center initiative. A total of EUR 44.2 million has been invested in this venture by mid-year. The total nominal value of the bonds issued for funding now stands at EUR 30.1 million as of the end of June. This calculated approach signifies a solid foundation for future growth.
Understanding Loan-to-Cost Ratio
Financial metrics indicate that the Loan-to-Cost (LTC) ratio as of June was positioned at 34.44%. This figure is crucial as it reflects the company’s borrowing relative to the project’s budget and can inform potential investors about the leveraging strategies employed.
Contact Information
For further inquiries, interested parties can reach out to:
Marius Žemaitis
Director of UAB Kvartalas
Email: Marius.zemaitis@lordslb.lt
Phone: +370 611 14 206
Frequently Asked Questions
What type of projects does UAB Kvartalas focus on?
UAB Kvartalas primarily focuses on real estate development and construction, with significant investments in commercial projects.
What is the business center 'S?varž?l?'?
'S?varž?l?' is a business center project being developed by UAB Kvartalas, showcasing modern office spaces.
How much has UAB Kvartalas invested in 'S?varž?l?'?
As of June, the company has invested EUR 44.2 million into the development of the 'S?varž?l?' project.
What is the Loan-to-Cost ratio for UAB Kvartalas?
The LTC ratio as of 30 June was 34.44%, indicating a solid financial strategy in relation to project costs.
Who is the current director of UAB Kvartalas?
Marius Žemaitis is the new director, having been appointed recently to oversee the company’s future directions.
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