The tenant turnover in 5 buying centres in Lithuania and Latvia, managed by Akropolis Group, the Baltic States chief in growth and administration of buying and leisure centres, grew from EUR 224.9 million to EUR 487.2 million, i.e. greater than two-fold development in comparison with year in the past. The like-for-like comparability to 2019 exhibits tenants’ turnover enhance of 27%. During the first half of the year, then pandemic restrictions have been eased, the buying centres managed by the group had 18,5 million guests. The key monetary indicators of Akropolis Groups surpassed the pre-pandemic ranges.
“The spring cancellation of the National Covid Certificate and of other pandemic restrictions, has allowed us to return to the usual business conditions this year. We were happy to witness that visitors enjoyed their return to in-person shopping and leisure activities in shopping centres. This is also reflected in the growth of the tenants’ turnover, which was record high.”- says Manfredas Dargužis, CEO and Chairman of the Board of Akropolis Group. – “The financial results of the group were positively influenced by Akropole Alfa, which was acquired last year. We have fully integrated Riga’s shopping centre, into Akropolis family this year.”
According to consolidated knowledge, the income of Akropolis Group of January to June 2022 amounted to EUR 54 million, and the earnings earlier than curiosity, taxes, depreciation and amortisation (EBITDA) was EUR 36.4 million, which is respectively 49% and 37% greater than in the first six months final year. The like-for-like comparability with 2019 exhibits enhance of group’s income and EBITDA by 14% and 9%, respectively.
In the first half of this year, Akropolis buying centres had 18.5 million guests – 68% greater than in the identical interval final year or 42% extra if Akropole Alfa will not be included. Meanwhile, in January to June 2019 the then working buying centres managed by Akropolis Group had 16.9 million guests.
The occupancy charges of the buying and leisure centres remained excessive in January to June this year, with solely 2% of vacancies.
This year, Akropolis Group completed integrating its second buying centre in Riga acquired in autumn final year into its group construction, additionally modified its title to Akropole Alfa. In May, the Group offered its preliminary plan to assemble a brand new one-storey constructing of about 3,500 sq. meters GLA subsequent to Akropolis Klaipėda. The latter will enable to increase the provide of items and companies to the guests of Akropolis in the Lithuanian port metropolis.
Currently, Akropolis Group pays a lot consideration to the formidable conversion undertaking Akropolis Vingis in Vilnius Vilkpėdė district. The Vilnius Regional Council of Architects (VRCA) gave a optimistic evaluation of the architectural options of the multifunctional cultural, leisure, business and buying complicated, the design proposals of the undertaking have been offered to the public in July.
For extra data:
Dominykas Mertinas
Head of Marketing and Communication Department
AKROPOLIS GROUP, UAB
+370 64027001
[email protected]
- Consolidated condensed interim monetary statements for the six-month interval ended 30 June 2022
