Audited annual report 2023 of AS Pro Kapital Grupp

The Supervisory Board of AS Pro Kapital Grupp has approved the company's audited annual report for 2023. Compared to the unaudited interim report published on 27 February there are no material differences in the audited report.

In 2023 the turnover of the Company was 23 million euros, which decreased by 42.7 million euros compared to the previous period. The company's turnover from the sale of real estate depends on the time of completion of housing developments, as the sales revenues are recognized at the moment when a notarised sales contract is entered into and the premises are handed over to the buyer. In 2023 the real estate revenue decreased compared to previous year, beacause majority of apartements in Kindrali Houses and Kalaranna Kvartal in Tallinn were sold and handed over in 2022, with remaining units being sold in 2023. While the construction of Kalaranna Kvartal final stage has started, the construction and delivery of units to clients is expected earliest at the end of 2024.  

The Group’s gross profit was 7 million euros compared to 17 million euros in 2022. The net loss was 900 thousand euros. 

AS Pro Kapital Grupp consolidated annual report 2023 in ESEF format together with independent auditor’s report is attached to this announcement and will be made available on the company’s website

Ann-Kristin Kuusik

CFO

AS Pro Kapital Grupp

Phone:

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