Oslo, 26th of August 2022, 08:55 CEST.
Attached is the Half-year (Q2) Report 2022 of Baltic Sea Properties (BALT).
During the second quarter of 2022, we completed the acquisition of Grandus Shopping Centre, while also actively managing three construction projects with handovers in Q3 2022. Our income from property management (IFPM) for the first half of 2022 was MEUR 1.53 (1.55), while our NAV strengthened by 4.03 % (adjusted for dividend 6.83 %) during the six months since 31st of December 2021.
As usual, our team has invested a lot of time and dedication to source, analyse and develop many potential investment projects and new development opportunities. The economic & geopolitical climate and sentiment have caused some delays with our new and existing partners larger business decisions. Nevertheless, the invested time and efforts should pay off once businesses regain confidence with improved predictability and we remain with a very exciting long-term pipeline. In the meantime, we continue to look ahead and keep our focus on positioning ourselves in line with our long-term strategy and ambitions.
For more information, please contact:
Lars Christian Berger
CEO
Phone: +47 930 94 319
Lcb@balticsea.no
The information in this announcement is subject to disclosure requirements under the EU Market Abuse Regulation and Euronext Growth listing rules.
Baltic Sea Properties AS is a Norwegian real estate company focusing on development and property management in the Baltics. The company is among the Baltics’ leading real estate investors and developers – owning a portfolio of logistics, industrial and retail assets.
Company website: balticsea.no