NEWS

Last year’s profit of Baltisches Haus increased by 71%

2019-05-08

Last year, the net profit of Baltisches Haus, one of the largest commercial real estate development and managements companies in the country, was EUR 17,734 M – 70.9% more than the year before (EUR 10,373 m). Income of the company increased by 4.6%, up to EUR 33,554 M.

“The increase in net profit was mainly attributable to faster growth in rental and sublease income and the result of sale of shares of certain subsidiaries and associated companies controlled by the company, including decrease in interest expenses. In terms of last year’s investments, a major part of 13 million euro investments made last year went to the construction of a complex in Vilnius Old Town, Bokšto g. 6. This building should be occupied by offices, restaurant and SPA. We intend to invest the most into this object in 2019. In addition, we plan to implement several shopping centre projects,” – Audrius Masionis, the Director of Baltisches Haus, UAB tells.

At the end of 2018, the area leased and subleased by Baltisches Haus amounted to almost 261,000 sq. m. The company has 34 employees.

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