Core Points - Hepsor AS reported a consolidated sales revenue of 8.2 million euros for Q1 2025, a significant increase from 2.3 million euros in Q1 2024 [1] - The Group's net loss for Q1 2025 was 0.1 million euros, an improvement from a net loss of 1.0 million euros in Q1 2024 [2] - The company plans to distribute 1.0 million euros in dividends to shareholders in 2025, resulting in a dividend yield of 6.9% based on the share price as of 31 March 2025 [2] Development Projects - Hepsor continued construction and sales of its development projects, with customer interest remaining stable [3] - The Annenhof Mājas project in Latvia saw 60% of its apartments sold by the end of March 2025 [3] - The company handed over 42 homes to customers in Q1 2025, compared to 12 homes in the same period of 2024 [4] Leasing and Commercial Developments - The StokOfiss 34 project in Riga has seen lease agreements cover 47% of its total rental area as of 31 March 2025, up from 6% in 2024 [5] - The P113 Health Centre office building has achieved an 82% leasing rate as of 31 March 2025 [6] Future Plans - Hepsor plans to start construction on four new residential development projects in 2025, including 49 new homes at Manufaktuuri 12 in Tallinn [8] - The company signed a shareholders' agreement to sell a 50% stake in Hepsor SOF OÜ, which will acquire five properties valued at 9.0 million euros [7] - The cooperation project with EfTEN in Lasnamäe aims to construct approximately 300 apartments, with the first stage of construction planned to begin in 2026 [7] Financial Position - As of 31 March 2025, total assets were reported at 83.9 million euros, a decrease from 96.8 million euros in March 2024 [9] - Current liabilities decreased to 24.7 million euros from 44.7 million euros in March 2024 [9] - Total equity stood at 21.6 million euros, slightly down from 21.2 million euros in March 2024 [11]

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]

Core Points - Hepsor AS is holding its annual general meeting on May 21, 2025, at 14:00 in Tallinn, Estonia [1] - Shareholders entitled to vote will be determined as of May 14, 2025 [2] - Electronic voting is available until May 20, 2025, at 16:00 [3] Agenda Items - Approval of the 2024 annual report is proposed by the supervisory board [4] - Distribution of profit includes a proposed dividend of EUR 0.26 per share, totaling EUR 1,002 thousand, with the record date set for July 1, 2025 [5][7] - Election of a new supervisory board member, Henri Laks, is proposed following the resignation of Lauri Meidla effective July 31, 2025 [6] - Remuneration for supervisory board members is proposed to remain unchanged, with members receiving EUR 1,000 gross per month and the chairman receiving EUR 8,000 gross per month starting August 1, 2025 [8] Additional Information - Information related to the general meeting is available on Hepsor AS's website [9] - Questions regarding the agenda can be sent to investor@hepsor.com [10] - Procedures for participation by proxy and revocation of authorization are outlined [11] - Registration for the meeting requires an identity document and, for representatives of foreign legal persons, an apostilled commercial register extract [12][13] Company Overview - Hepsor AS is a developer of residential and commercial real estate operating in Estonia, Latvia, and Canada, with a portfolio of 24 development projects totaling 172,500 m² [14]

Company Overview - Hepsor AS has grown into one of the largest real estate development companies in Estonia and Latvia over the past 14 years, and in 2023, it expanded into the Canadian market [2] - The company was listed on the stock exchange in 2021 and became part of the Baltic Main List of the Nasdaq Tallinn Stock Exchange [2] - Hepsor has developed 2,076 homes and nearly 36,300 square meters of commercial space during its thirteen years of operation [9] Management Changes - A proposal has been made for Henri Laks, the current Chairman of the Management Board, to join the Supervisory Board, while Martti Krass, the current Latvian Country Manager, is proposed as the new Member of the Management Board [1][4] - Henri Laks has been a key figure in Hepsor since its founding and has been involved in real estate development since 2004 [1][2] - Laks expressed that it is time for a change in leadership after nearly 15 years, indicating a desire to pass on responsibilities for the next development cycle to a colleague familiar with the company [5][6] Strategic Direction - Laks believes the current economic climate, which has been turbulent, is now showing signs of stabilization, presenting new growth opportunities in the real estate market [6] - The planned changes in management will be effective following the resolutions of the Supervisory Board and the General Meeting of Shareholders [9] - The Supervisory Board member Lauri Meidla has also expressed a wish to leave, which will be addressed in the upcoming General Meeting [6]