UAB “Kvartalas“ Publishes Audited Financial Statements for the Year Ended 31 December 2024

Company Overview - UAB "Kvartalas" is primarily engaged in real estate development and construction, owning a commercial land plot in Vilnius, which is being developed into an office building with over 19,000 sq.m. of ground floor space [1] Financial Performance - The Company reported retained earnings (losses) at the beginning of the financial year amounting to EUR (1,389,366) and a comprehensive income (net loss) for the reporting period of EUR (1,024,284), resulting in retained earnings (losses) at the end of the financial year of EUR (2,413,650) [2] - There were no dividends paid or transfers to the legal reserve during the reporting period [2] Bond Issuance - In 2024, the Company approved a prospectus for the placement of EUR 50 million in bonds and issued 80,000 units of secured non-convertible bonds with a nominal value of EUR 100 each, with a fixed interest rate and semi-annual interest payments [2] - All investment assets of the Company are pledged as security for the obligations to bondholders [2] Future Financing Plans - The Company plans to raise additional external financing through bond issuance in 2025, contingent on project progress and working capital needs [3] Key Events - On 6 March 2025, the bonds issued by UAB "Kvartalas" were listed on the Nasdaq Baltic Bond List [4] - On 1 April 2025, the Company issued an additional 120,000 units of secured non-convertible bonds with a nominal value of EUR 100 each [4]