Corrected: Estonia's Arco Vara Q2 revenue rises on higher apartment sales

Arco Vara AS

30/07/2026 07:29

Corrects revenue in Key Details table to say number in million, not billion; Corrects net loss, gross profit, operating income and pretax loss in table to say numbers in thousands, not million

Overview
Estonia real estate developer's Q2 revenue rose sharply yr/yr on higher apartment sales
Company posted a net loss for Q2, reflecting costs ahead of project completions
Profitability expected to improve in Q4 as major developments are completed

Outlook
Arco Vara expects a significant increase in revenue and profitability in Q4 2026
Company expects construction at Lutheri Quarter to begin in Q4 2026
Arco Vara aims to commence construction of Arcojärve development in H1 2027

Result Drivers
HIGHER DEVELOPMENT COSTS - Co cited rising construction costs and stricter regulatory requirements as contributing to increased expenses
STRONGER APARTMENT SALES - Co reported one of its strongest quarterly sales performances in recent years, selling 19 apartments in Q2

Company press release: ID:nGNE6gczGb

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
EUR 3.93 mln
 
Q2 Net Loss
 
EUR 575,000
 
Q2 Gross Profit
 
EUR 215,000
 
Q2 Operating Income
 
-EUR 721,000
 
Q2 Pretax Loss
 
EUR 575,000
 

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 (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.)