Hepsor AS consolidated unaudited interim report for Q3 2025 and nine months

Financial Performance - Hepsor's consolidated revenue for Q3 2025 was 8.8 million euros, a decrease from 20.4 million euros in Q3 2024. For the first nine months of 2025, revenue increased to 30.9 million euros from 27.9 million euros in the same period of 2024 [1] - The net profit for Q3 2025 was 1.2 million euros, down from 2.7 million euros in Q3 2024. However, the net profit for the first nine months of 2025 rose to 1.5 million euros from 1.2 million euros in 9M 2024 [2] Property Transactions - The financial results were significantly impacted by the sale of properties to the joint venture Hepsor SOF OÜ, with a total transaction value of 9.0 million euros, generating a profit of 1.8 million euros recognized in Q2 and Q3 [3] Development Projects - A new residential development project in Riga at Starta 17 was added, planning to construct 255 new homes in several stages [6] - As of September 30, 2025, Hepsor had 10 residential development projects for sale, with 355 new homes and 453 m² of commercial space completed, of which 87% (309 homes) have been sold [7] - The Group has 374 new homes under construction, with 173 in Latvia and 201 in Estonia [8] Commercial Real Estate - Construction of the StokOfiss U34 multifunctional commercial building in Riga began in 2024, with a leasable area of 8,740 m². As of September 30, 2025, 70% of the leasable area was covered by lease agreements [9] Canadian Operations - Hepsor's Canadian operations focus on land-use planning for development projects, with investments in five projects. A recent decision by the Toronto City Council granted building rights for a development project, allowing for the construction of two residential towers [10] Future Outlook - Hepsor plans to commence construction of two development projects in Riga in Q4 2025 and launch four new projects in the first half of 2026 [11] - An investor meeting is scheduled for November 13 in Estonia and November 14 in Latvia to discuss financial results and future plans [11]