European Equity Opportunities Report for 2024

Monday 31st of March 2025 19:00:00

Baltic Horizon Fund Consolidated Audited Results for 2024

Tallinn, Estonia, March 31, 2025 – Baltic Horizon Fund AS (the "Fund"), a real estate investment fund focused on the Baltic States, today announced its consolidated audited results for the year ended December 31, 2024.

Key highlights from the 2024 financial year include:

  • Net asset value (NAV) per share increased by 11.4% to €2.45 compared to €2.20 as of December 31, 2023;
  • Revenue grew by 14.1% to €8.4 million (2023: €7.4 million);
  • Profit for the year was €5.4 million (2023: €4.1 million), an increase of 32.5%;
  • The Fund's portfolio value increased by 12.5% to €145.1 million (2023: €129.1 million);
  • The Fund's debt-to-equity ratio improved to 35.4% as of December 31, 2024 (2023: 41.4%).

"We are pleased to report another year of strong performance for the Fund," said Madis Toomsalu, the Chairman of the Management Board of Baltic Horizon Fund. "Our focus on high-quality real estate investments in the Baltic States has enabled us to deliver consistent returns to our investors. We remain committed to our strategy of generating stable income and capital appreciation for our investors."

The Fund's portfolio, which consists of 13 properties, is diversified across the Baltic States, with a focus on office and retail properties in Estonia, Latvia and Lithuania. The portfolio's weighted average vacancy rate was 4.3% as of December 31, 2024.

The Fund's financial statements for the year ended December 31, 2024, have been audited by KPMG Baltics OÜ, a leading audit firm in the Baltic States. The full audited financial statements can be found on the Fund's website.

About Baltic Horizon Fund

Baltic Horizon Fund AS is a real estate investment fund focused on the Baltic States. The Fund's investment strategy is to acquire and manage a diversified portfolio of high-quality real estate assets in Estonia, Latvia and Lithuania, with a focus on office and retail properties. The Fund is listed on the Nasdaq Tallinn stock exchange under the ticker symbol BH.