Pro Kapital Council approved Consolidated Interim Report for III Quarter and 9 Months of 2025 (Unaudited)

Core Insights - The company has shown significant progress in its real estate development projects across Tallinn, Riga, and Vilnius, with various projects nearing completion and strong sales performance [2][5][8][10][15]. Real Estate Development - In Tallinn, the Uus-Kindrali project is ongoing, while the White Building has reached approximately 73.1% sell-out as of Q3 2025, with final client inspections scheduled [2][3]. - Another residential building with 90 units is under construction next to the White Building, expected to be completed by October–November 2026 [3]. - The Kalaranna development has completed its final phase, achieving approximately 60.9% sell-out [5]. - In Riga, the Blue Marine project has commenced construction, with retaining wall piles completed and excavation works underway [6][7]. - In Vilnius, the Šaltinių Namai Attico project is on schedule, with nearly 43% sell-out in villas and over 21% in the commercial building [8]. Financial Performance - Total revenue for the first nine months of 2025 was EUR 34.3 million, a significant increase from EUR 10.6 million in the same period of 2024 [17]. - Gross profit for the first nine months of 2025 rose to EUR 11.9 million compared to EUR 2.9 million in 2024, with a gross profit margin of 35% [20][23]. - The operating result improved to a profit of EUR 7.7 million in the first nine months of 2025, compared to a loss of EUR 1.7 million in 2024 [20][23]. - The net result for the first nine months of 2025 was a profit of EUR 6.0 million, compared to a loss of EUR 4.1 million in the previous year [21][23]. Market Outlook - The company is optimistic about the remainder of 2025, citing a solid pipeline and improving market sentiment, which is expected to translate into continued growth [16][15]. - The Italian operations have shown resilience despite market slowdowns, with increasing recognition of the bare ownership model among investors [12][13].