New Hanza Capital
Interim report (Q1 and Q3)
New Hanza Capital Performance in Nine Months of 2019
Riga, Latvia, 2019-11-22 11:06 CET --
In the nine months of this year New Hanza Capital, AS has been working at a profit before taxes amounting to 225.60 thousand euros, whereas group’s profit before taxes amounted to 417.84 thousand euros. In Q3 the number of investment properties owned by the group has not changed – those are 11 properties of total market value amounting to EUR 48.3 million.
Group’s financial results are as follows:
revenue in nine months of 2019 amounted to EUR 2.9 million;
modified EBITDA* as on 30 September 2019 amounted to EUR 1.1 million (*earnings before interest, taxes, depreciation and amortisation, investment property revaluation results);
gross assets in comparison to the end of 2018 have grown by 12% amounting to EUR 63.2 million.
New Hanza Capital, AS is a company founded in 2006 that is investing its funds in commercial properties. The objectives of its operation includes investing own and third party funds in commercial real estate objects to achieve sustainable increase in rental income and promote long-term property value and capital growth. The company’s commercial real estate portfolio includes office buildings at 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 77 thousand square metres.