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In the first half of 2025, Akropolis Group focused on renovation and revamping of shops, improving the offer of goods and services, the tenant turnover also grew
Globenewswire· 2025-09-15 15:55
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]