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Quarterly (Q3) 2023 report – Baltic Sea Properties AS

Nov 16 2023

Baltic Sea Properties AS, a leading real estate developer & investor in the Baltic region, recorded a 20% increase in rental income year to date at mEUR 5.97, compared to previous year mEUR 4.98.

This growth is primarily attributed to the successful introduction of new developments and investment assets into the portfolio over the past 12-months. Albeit increasing finance cost, the company has also witnesses an improvement in its income from property management to mEUR 2.4, marking an increase of 13.5% from same period last year.

In the third quarter, Baltic Sea Properties announced a significant expansion project in partnership with Rhenus Logistics, one of the leading logistics company in Europe. The expansion project encompasses a new 17 255 sqm logistic terminal in Vilnius.
The agreement also includes a new 15-year triple net agreement, commencing from the estimated handover in Q2/Q3 of 2025. Upon completion, the over 35 600 sqm facility will become one of the Baltic region’s leading logistics centers.

For additional details regarding the financial performance and other relevant information, reference is made to the third quarter report attached.

Q3 2023 report

For more information, please contact:

Lars Christian Berger CEO
phone: +47 930 94 319

The information in this announcement is subject to disclosure requirements under the EU Market Abuse Regulation and Euronext Growth listing rules.

Baltic Sea Properties is an open-ended and fully integrated real estate investment company.
The company is among the Baltics’ leading real estate investors and developers – owning a diversified cash flow generating portfolio of modern real estate in the logistics, industrial and commercial segments.