Hepsor AS consolidated unaudited interim report for Q1 2025

Financial Performance - Hepsor's consolidated sales revenue for Q1 2025 was €8.2 million, a significant increase from €2.3 million in Q1 2024, representing a growth of approximately 257% [1] - The Group's net loss for Q1 2025 was €0.1 million, improved from a net loss of €1.0 million in Q1 2024, with the net loss attributable to the owners of the parent at €0.2 million compared to €0.9 million in the previous year [1] Dividend Proposal - The Management Board proposes to distribute €1.0 million in dividends to shareholders in 2025, equating to €0.26 per share, which results in a dividend yield of 6.9% based on the share price as of March 31, 2025 [2] Development Projects - In Q1 2025, Hepsor handed over 42 homes to customers, a notable increase from 12 homes in the same period of 2024, with 26 homes delivered in Tallinn and 16 in Riga [4] - The Annenhof Mājas development project in Latvia saw 60% of its apartments sold by the end of March 2025, indicating strong customer interest [3] - The construction of StokOfiss 34, a multifunctional commercial building in Riga, is progressing, with lease agreements signed for 47% of the total rental area as of March 31, 2025 [5] Future Plans - Hepsor plans to start construction on four new residential development projects in 2025, including 49 new homes at Manufaktuuri 12 in Tallinn and a total of 227 new homes in Riga [8][9] - A shareholders' agreement was signed in April 2025, resulting in the sale of a 50% stake in Hepsor SOF OÜ to the EfTEN Special Opportunities Fund, which will acquire five properties valued at €9.0 million [7] Financial Position - As of March 31, 2025, total assets amounted to €83.9 million, a decrease from €96.8 million in the same period of 2024 [10] - Current liabilities were reported at €24.7 million, down from €44.7 million a year earlier, while total liabilities stood at €62.3 million [10]