Core Viewpoint - S&P Global Ratings has reaffirmed Akropolis Group's BB+ long-term credit rating with a stable outlook, reflecting the company's strategic importance within the Metodika Group and the impact of governance changes in the Vilniaus Prekyba Group [1][4]. Group 1: Credit Rating and Financial Performance - The BB+ credit rating, maintained since 2021, indicates the stability and growth prospects of Akropolis Group, providing confidence for ongoing development and management of retail and commercial real estate projects [2]. - In the first half of 2025, Akropolis Group reported consolidated rental income of EUR 46.3 million, a 5.4% increase compared to the first half of 2024, while EBITDA reached EUR 44.3 million, up 3.4% year-on-year [6]. Group 2: Governance and Structural Changes - Recent governance changes within the Vilniaus Prekyba Group will lead to the separation of businesses operating in Poland, Sweden, and Bulgaria into a standalone organization, while Baltic operations will continue under UAB Vilniaus Prekyba [3]. - Following the separation, Akropolis Group's assets will represent approximately 27% of the total assets of the Metodika Group and are projected to generate around 15% of the group's total EBITDA by 2026 [4]. Group 3: Strategic Developments - The acquisition of Galio Group is expected to enhance Akropolis Group's EBITDA and improve its debt-to-EBITDA ratio, contributing positively to the company's financial health [5]. - Akropolis Group operates major shopping and entertainment centers in Lithuania and Latvia, solidifying its position as a leading commercial real estate development and management company in the Baltic States [7][8].

Core Insights - The acquisition of Galio Group by Akropolis Group has been positively evaluated by Fitch Ratings, reaffirming a long-term borrowing rating of BB+ with a stable outlook [1][6] - The CEO of Akropolis Group emphasized the responsible growth and diversification of the portfolio, which enhances trust in the company's long-term growth prospects [2] Financial Performance - Following the acquisition, Akropolis Group's real estate portfolio value increased by approximately 30%, rising from EUR 1.1 billion to EUR 1.4 billion, and the number of income-producing properties surged from 5 to 60 [4] - The concentration of shopping centers in the portfolio decreased from 96% to 73% of the total portfolio value, indicating improved diversification [4] - Consolidated rental income for the first half of 2025 reached EUR 46.3 million, reflecting a 5.4% increase compared to the same period in 2024, while EBITDA was EUR 44.3 million, up 3.4% year-over-year [7] Market Position and Outlook - Fitch Ratings noted the financial stability of Akropolis Group, attributed to a better average cost of debt and sustainable financial indicators [3] - The positive performance metrics include growing rental income, increased tenant sales, stable footfall in shopping centers, and low vacancy rates [5]

Core Insights - Akropolis Group has successfully completed the acquisition of Galio Group, becoming the sole owner of the company, which is expected to enhance revenue growth and development opportunities [1] Group 1: Acquisition Impact - The acquisition has increased the value of Akropolis Group's real estate portfolio by approximately 30%, rising from EUR 1.1 billion to EUR 1.4 billion [3] - The number of income-producing properties managed by Akropolis Group has expanded significantly from 5 to 60 following the acquisition [3] - The concentration of shopping centers within the portfolio has decreased from 96% to 73%, indicating a diversification across different asset classes [3] Group 2: Company Background - Galio Group has been involved in the development of commercial and residential real estate projects in the Baltic region for nearly 20 years, managing assets valued at over EUR 300 million [2] - Akropolis Group currently manages five shopping and entertainment centers, including three in Lithuania and two in Latvia [4] - Post-acquisition, Galio Group will continue to develop real estate projects in the Baltic States, including ongoing residential projects like reVINGIS and Mosso in Vilnius [4]

Core Viewpoint - S&P Global Ratings has affirmed Akropolis Group's BB+ rating with a stable outlook for the fourth consecutive year, indicating confidence in the company's strategic acquisition of Galio Group and its potential to enhance financial stability and growth in the Baltic real estate market [1][2]. Group 1: Acquisition Impact - The acquisition of Galio Group is expected to increase Akropolis Group's property portfolio value by approximately 30%, rising from €1.1 billion to €1.4 billion [3]. - The number of income-producing assets will expand significantly from 5 to 60, which will reduce concentration risk and enhance portfolio diversification [3]. - Following the acquisition, shopping centers will constitute 73% of the total portfolio value, a decrease from the current 96%, indicating improved diversification [3]. Group 2: Financial Performance - Akropolis Group's consolidated rental income for the first half of 2025 reached €46.3 million, reflecting a 5.4% increase compared to the same period in 2024 [5]. - Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the same period amounted to €44.3 million, marking a 3.4% year-on-year growth [5]. Group 3: Market Outlook - S&P Global Ratings anticipates that Akropolis Group's operating fundamentals will remain stable over the next 12 months, supported by strong demand across all asset classes [4]. - The agency expects the company to achieve consistent growth in rental income and maintain high occupancy levels post-acquisition [4].

On 23 September, Vaidotas Neniškis, Project Manager at Vilniaus prekyba, starts working in the Audit Committee of Akropolis Group, managing shopping and entertainment centres in Lithuania and Latvia. He is replacing Matas Kasperavičius, who has served on the Audit Committee of Akropolis Group since February 2024. V. Neniškis has impressive history of working in finance. In 2002 - 2021 he worked at Vilniaus prekyba group and other related companies, where since 2013 he held managerial positions in the field ...

Core Insights - Akropolis Group has signed a credit agreement with Swedbank for EUR 110 million to acquire 100% of shares in Galio Group, with the credit accounting for slightly less than half of the transaction price [1] - The share purchase agreement has been signed, and the transaction is expected to close soon, with both companies having the same ultimate beneficial owners [2] - The acquisition will significantly increase and diversify Akropolis Group's real estate portfolio, enhancing its project management and development capabilities [3] Financial Impact - After the transaction, Akropolis Group's real estate portfolio value will increase by approximately 30%, from EUR 1.1 billion to EUR 1.4 billion, and the number of income-producing properties will rise from 5 to 60 [5] - The concentration of shopping centers in the portfolio will decrease from 96% to 73% of the portfolio value, indicating a diversification strategy [5] Company Background - Akropolis Group currently manages five shopping and entertainment centers in Lithuania and Latvia [4] - Galio Group has been involved in the development and management of commercial and residential real estate projects in the Baltic region for nearly 20 years, with managed assets exceeding EUR 300 million [4] - In 2024, Galio Group reported consolidated income of EUR 31 million and EBITDA of EUR 17 million, while Akropolis Group reported consolidated income of EUR 125 million and EBITDA of EUR 88 million [7] Future Plans - No changes are planned in the governance structure or management of Galio Group post-transaction, and the company will continue to develop real estate projects, including ongoing residential projects in Vilnius [6]

Core Insights - Akropolis Group's shopping and entertainment centres in Lithuania and Latvia recorded stable visitor footfall of 21 million in the first half of 2025, with tenant turnover reaching a record high of EUR 558.9 million, reflecting a 1.8% increase compared to the same period last year [1] Financial Performance - Consolidated rental income for Akropolis Group was EUR 46.3 million in the first half of 2025, representing a growth of 5.4% year-on-year [2] - The Group's total revenue amounted to EUR 63.3 million, up by 4.4% from the previous year, while EBITDA reached EUR 44.3 million, a 3.4% increase [2] Tenant Activity - Over 70 new and revamped shops were opened or renovated in the Akropolis centres during the first half of 2025, surpassing the 66 shops from the same period last year [3][4] - Specific renovations included notable brands such as New Yorker, Mango, and Skechers across various locations [5][6] Future Developments - New restaurants and entertainment options are set to open in the second half of 2025, including KFC and a family amusement park in Vilnius Akropolis [7] - Construction permits have been obtained for new projects, including a 3,500 m² building at Klaipėda Akropolis [10] Sustainability Initiatives - Akropolis Group successfully issued a EUR 350 million green bond with a 6% annual interest rate to refinance previous bonds and fund sustainability projects [8] - All five shopping centres managed by Akropolis Group have received a "Very Good" rating under the BREEAM In-Use sustainability standard, achieving this target a year ahead of schedule [11][12] Market Position - Fitch Ratings reaffirmed Akropolis Group's BB+ long-term borrowing rating with a stable outlook for the fifth consecutive year, indicating strong market confidence [13]

Core Viewpoint - Sustainable Fitch has published its first sustainability rating report on Akropolis Group, assigning it a rating of 2 points on a scale of 1 to 5, indicating very good performance in Environmental, Social, and Governance (ESG) areas [1]. Group 1: ESG Performance - The ESG report evaluates both overall performance in ESG areas and the management of sustainability-related financial risks [2]. - The CEO of Akropolis Group stated that the rating reflects efficient management of environmental, social, and governance risks [2]. - The report highlights the company's commitment to sustainability as a key priority, demonstrating progress in all ESG areas [3]. Group 2: Sustainability Goals - The high rating from Sustainable Fitch is attributed to the consistent approach in implementing sustainability goals set by the company last year [4]. - At the beginning of the year, Akropolis Group introduced the Green Financing Framework, linking sustainability objectives with financial activities [5]. Group 3: Green Financing Initiatives - Following the Green Financing Framework, Akropolis Group issued its first EUR 350 million 5-year green bond with a 6.000% annual interest rate in May 2025 [6]. - The bonds are listed on Nasdaq Vilnius and Euronext Dublin stock exchanges [6].

Group 1 - The international credit rating agency Fitch Ratings has reaffirmed Akropolis Group's long-term borrowing rating at BB+ with a stable outlook for the fifth consecutive year, indicating the company's financial robustness [1] - The stable performance of Akropolis Group is highlighted by growing rental income and a strong position in the Baltic shopping centre market, reflecting financial soundness and a sustainable business model [2] - Akropolis Group's first credit ratings were assigned by S&P Global Ratings and Fitch Ratings in May 2021, and the company successfully placed its first EUR 350 million 5-year green bond issue in May 2025 [3] Group 2 - Akropolis Group reported rental income of EUR 91.4 million and EBITDA of EUR 87.8 million for the last year, representing increases of 9% and 6% respectively compared to 2023 [4]

Core Points - The Vilnius City Municipality has issued a construction permit for the transport infrastructure improvement project near the Akropolis Vingis multifunctional complex [1][3] - The CEO of Akropolis Group stated that this is the last document needed for the development of the Akropolis Vingis complex, and they are updating the project budget and evaluating financing options [2] - The infrastructure improvement project aims to enhance traffic throughput capacity and safety at the intersection of Gerosios Vilties and Geležinio Vilko streets [4][5] Infrastructure Improvements - The project includes the construction of a roundabout, an underground car entrance, and a modern underground pedestrian and cyclist crossing [4] - After implementation, the intersection will facilitate continuous traffic flow, benefiting pedestrians, cyclists, and drivers [5] - Three additional traffic infrastructure improvement projects have been prepared, involving streets adjacent to Akropolis Vingis, developed in cooperation with the Vilnius City Municipality [6] Project Timeline - Design proposals for two of the traffic improvement projects were presented to the public in January 2023, with municipal approval in spring 2023 [7] - Construction permits for the Eigulių street project were issued in November 2024, while permits for Gerosios Vilties and Geležinio Vilko streets are expected in May 2025 [7] Ongoing Developments - Some infrastructure improvements are already underway, including the construction of a section of Eigulių street, which will provide access to the adjacent reVINGIS quarter [8] - All public infrastructure work is funded by the Akropolis Vingis project developer, with operational permits for the multifunctional complex contingent on the completion of these improvements [9] Multifunctional Complex Features - The Akropolis Vingis complex will include shopping, service, and recreational areas, a concert hall, a food hall, a conference center, a multiplex cinema, offices, and long-term residential apartments [10] - The complex will also feature approximately 4,500 parking spaces and prioritize pedestrian and cyclist traffic with new paths and recreational areas [11]