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Estonia's Hepsor posts Q3 net loss due to limited completed apartments for sale

By Reuters News


Overview

  • Estonia-based real estate developer's Q3 revenue fell sharply yr/yr amid limited completed inventory

  • Company posted Q3 net loss as new projects await completion and sales phase

  • Total assets rose 44% yr/yr as Hepsor entered most capital-intensive stage of investment cycle


Outlook

  • Hepsor plans to complete two residential projects in Q4 2026, totaling 152 apartments

  • Company says focus in Q4 2026 will be on completing projects, selling apartments and preparing new projects

  • Construction of Veski Keskus commercial project in Estonia to start in Q4 2026, with 96% pre-leased


Result Drivers

  • LIMITED COMPLETED INVENTORY - Co said financial results were primarily affected by a lack of completed apartments available for sale

  • CAPITAL-INTENSIVE INVESTMENT CYCLE - Group said it is in the most capital-intensive stage of its investment cycle, with new projects expected to impact results from Q4 2026

  • INCREASED APARTMENT SALES CONTRACTS - Co reported a 31% yr/yr rise in first-time apartment sales contracts signed, though these will be reflected in future results


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

EUR 1.34 mln

Q3 Net Loss

EUR 968,000

Q3 Gross Profit

EUR 386,000

Q3 Pretax Loss

EUR 967,000


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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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