Hepsor AS consolidated unaudited interim report for Q2 2025 and six months

Financial Performance - Hepsor's consolidated revenue for Q2 2025 was 13.9 million euros, a significant increase from 5.2 million euros in Q2 2024, while revenue for the first half of 2025 reached 22.1 million euros compared to 7.4 million euros in H1 2024 [1] - The Group reported a net profit of 0.4 million euros for Q2 2025, recovering from a net loss of 0.6 million euros in Q2 2024, with a net profit of 0.3 million euros for the first half of 2025 compared to a net loss of 1.5 million euros in H1 2024 [2] - The net loss attributable to the owners of the parent company was 0.2 million euros in H1 2025, an improvement from a net loss of 1.5 million euros in H1 2024 [2] Property Transactions - Hepsor Fortuuna OÜ sold properties located at Paevälja 5, 7, and 9 to its joint venture Hepsor SOF OÜ for a total of 2.7 million euros, generating a profit of 0.8 million euros from the sale [4] - In July 2025, Hepsor N450 OÜ sold properties at Narva mnt 150 and 150a to Hepsor SOF OÜ for 6.3 million euros, with a profit of 2.8 million euros expected from this transaction [12] Residential Development - As of June 30, 2025, Hepsor had 9 residential developments for sale, with 5 completed and 4 under construction or set to start in 2025, totaling 355 new homes and 453 m² of commercial space [5] - The company handed over 102 homes to customers in the first half of 2025, compared to 46 homes in H1 2024, with 60 homes delivered in Q2 2025 [6] Commercial Real Estate - Hepsor started construction on the StokOfiss U34 multifunctional commercial building in Riga, with 65% of the leasable area already covered by lease agreements as of June 30, 2025 [8] - The P113 Health Centre property has 98% of its leasable area covered by lease agreements as of June 30, 2025 [9] Future Projects - Hepsor plans to acquire a new property development in Riga, consisting of three 14-storey apartment buildings with approximately 250 apartments, with a total investment of close to 40 million euros [10] - In Tallinn, Hepsor is preparing for the construction of the Manufaktuuri Factory development project, which will include 152 homes, scheduled for completion in autumn 2027 [6] Management Changes - Significant management changes are set to take place in August 2025, with Martti Krass joining the Management Board and Gints Vanders becoming the Country Manager in Latvia [16]