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New Hanza Capital, AS ends the financial year 2018 with good results, profit for the period amounts to EUR 4.98 million
Emitents New Hanza Capital, AS (549300HG3YO0QBYPSM51)
Veids 1.1 Gada finanšu pārskati un revīzijas ziņojumi
Valoda EN
Statuss Publicēts
Versija
Datums 2019-02-28 17:21:32
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Teksts

As a result of strategic asset management and a good quality investment portfolio, New Hanza Capital, AS (the Company) was able to end the financial year 2018 with good results. According to the Group and Company audited financial statements Company profit for the year that ended 31.12.2018 amounted to EUR 4.98 million, whereas Group profit amounted to EUR 1.67 million. The Group profit for the reporting period is in line with management expectations. The Company profit war primarily generated by dividend income received from subsidiaries.

Group financial results for the twelve months of 2018:

  • revenue – EUR 3.84 million, a 133% growth against the same period in 2017;
  • adjusted EBITDA* – EUR 1.56 million (*earnings before interest, tax, depreciation, amortization and investment property revaluation);
  • assets – EUR 56.08 million, a 7% growth against the value at the end of 2017.

The growth in Group revenue and gross profit during the reporting period resulted from Group investment property portfolio expansion, as well as planned rent indexation, which also lead to a 17% increase in the average monthly rent per square meter in the Group office spaces during the reporting period.

During the reporting period the Group expanded its investment portfolio by acquiring an office building in the territory of the former State Electrotechnical Factory (VEF) at Bērzaunes iela 7. This acquisition bears a strategic importance to the Group development plans in the VEF territory, as well as increases the value of Group previous investments in the neighborhood. After the end of 2018 the Group acquired two investment properties in Riga – an office building on Elizabetes iela 23 and office spaces on Elizabetes iela 21A-102.

As a result, the Group investment portfolio currently consists of 11 investment properties with the total leasable area exceeding 75 thousand square meters.

During 2018 New Hanza Capital, AS has made two coupon payments to bond holders in the total amount of EUR 490 000 on bonds issued – NHC FXD EUR 161022 (LV0000802312). The nominal amount of the bonds issued EUR 10 000 000, the nominal value of a bond is EUR 1 000. The annual interest rate is fixed at 4.9% and coupon payments are made twice a year. The issue date is 16 October 2017, and the maturity date is 16 October 2022. On 19 October 2017, the bonds were admitted to the regulated market —the Baltic Bond List of Nasdaq Riga.

New Hanza Capital, AS is a company founded in 2006. New Hanza Capital, AS objective is to invest its own funds, as well as third party funds in commercial properties, sustainably increase rental income and promote long-term property value and capital growth. The Company’s real estate portfolio includes office buildings in the 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 75 000 m2.

         Jānis Bunte
         PR Specialist
         Tel.: +371 6777 5432

Pielikumi
NHC_SCG_2018_ENG.pdf (444.35 kB)
NHC_GP 2018_ENG.pdf (3995.15 kB)