Published: 2019-05-29 11:40:00 CEST
Mainor Ülemiste
Company Announcement

Mainor Ülemiste AS Audited Consolidated Annual Report 2018

The audited consolidated annual report of 2018 together with the profit distribution proposal were approved on 28 May 2019 by the Annual General Meeting Of Shareholders Of Mainor Ülemiste AS.

In 2018, the company was mainly engaged in the construction of new buildings, renovation of existing buildings, renting new and renovated premises and with the preparation of new real estate projects. Mainor Ülemiste AS consolidated turnover in 2018 amounted to 8,798 thousand euros (2017: 7,686 thousand euros), other operating income amounted to 2,811 thousand euros (2017: 1,456 thousand euros) and net income amounted to 9,334 thousand euros (2017: 8,522 thousand euros). As of the end of the financial year the total equity of the company was 100,039 thousand euros.

In 2018, a total of 17,898 thousand euros was invested into the construction of buildings and improvement of equipment. The amount of received loans during 2018 was in total 24,634 thousand euros and loan repaiments reached 8,998 thousand euros. To raise capital for the further development of Ülemiste City commercial district, the second phase of the 10  million euro bond issue was carried out in amount of 7.38 million euros. Since the 1st of February 2018 the bonds are traded on the First North trading facility.

The  fair value of real estate investments of Mainor Ülemiste AS as of the end of the year was 122,630 thousand euros and it has increased compared to the previous year by 20,560 thousand euros.

The audited consolidated annual report for 2018 of Mainor Ülemiste AS is available on the Nasdaq Tallinn web page.


Margus Nõlvak


Phone: +372 504 1010

         Mainor Ülemiste AS
         Valukoja 8/1
         11415 Tallinn, Estonia
         Phone: +372 5304 6992

AS Mainor Ulemiste Audited Consolidated Annual Report 2018.pdf