New Hanza Capital
Interim report (Q1 and Q3)
New Hanza Capital, AS demonstrates good financial results in Q1 2019
Riga, Latvia, 2019-05-21 08:29 CEST --
Q1 2019 has been a successful quarter for New Hanza Capital, AS (the Company) and its group – the demonstrated financial results match the planned ones. In the first three months of the year, the group has been working at a profit of EUR 89,610.
Key unaudited financial results:
Q1 2019 revenue amounted to EUR 919,292;
modified EBITDA* amounted to EUR 268,816 (*earnings before interest, taxes, depreciation and amortisation, revaluation of investment properties);
gross asset value, in comparison to the end of 2018, have grown by more than 11%, amounting to EUR 62.4 million.
During the reporting period, the Company acquired 98.71% of NHC 5, SIA shares and gained control over it. NHC 5, SIA line of business is renting and operating of own real estate – an office building at Elizabetes iela 23, and office spaces at Elizabetes iela 21-102 with a total leasable area of 4324.9 m2 and 689 m2. In addition, it currently continues developing a reconstruction project of an office building at the former State Electrotechnical Factory (VEF) at Brīvības gatve 214M in Riga, as well as developing a technical project for the new modern warehouse buildings at Maskavas iela 462/464A.
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, office building at 23 Elizabetes St., the 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 77 thousand square metres.
Tel.: +371 6777 5432