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