INVL Baltic Real Estate, the only real estate investment company listed on NASDAQ Vilnius stock exchange, in the first quarter of 2015 received EUR 1.405 million revenue and made EUR 276 thousand net profit, according to consolidated data.
INVL Baltic Real Estate was established in the end of April 2014 by splitting a part of Invalda LT’s property.
“As the occupancy rate of our managed business centres this year remains high, we focus on increase of revenues”says INVL Baltic Real Estate’s Director Andrius Dauksas.
In April 2015 INVL Baltic Real Estate signed agreements to increase economic interest for EUR 3.1 million in Latvian logistics complex Dommo from 50 to 100 per cent. Annual revenue of the complex, which is located nearby Riga, amounts to EUR 0.6 million. Companies Dommo grupa and Dommo biznesa parks, of which 100 per cent of shares will belong to INVL Baltic Real Estate, in total manage 12.8 thousand square meters logistics centre and 58 hectares of land.
“We are planning to close the deal in the second quarter of the year. Then we will decide which development alternatives of the object are the most advantageous for INVL Baltic Real Estate’s shareholders”, says Andrius Dauksas, director of INVL Baltic Real Estate.
At the end of April 2015 the equity of INVL Baltic Real Estate amounted to EUR 14.767 million, or EUR 2.1 per share.
INVL Baltic Real Estate manages around 51 700 square meters of non-commercial real estate in Vilnius and Riga. The shares of the company are quoted in NASDAQ Vilnius stock exchange.