Baltic real estate developer Hepsor swings to Q2 loss as low apartment inventory hits revenue

Hepsor AS

29/07/2026 06:12

Overview
Baltic real estate developer's Q2 revenue fell sharply amid low stock of completed apartments
Company posted a net loss for Q2, compared to profit a year earlier
Record 513 homes under construction at end-June, expected to support future revenue

Outlook
Hepsor plans to start construction on three new development projects in 2026
Company is shifting focus to residential projects due to strong demand and lower returns on commercial
Construction of a 48-apartment residential building in Riga planned to start in second half of 2027

Result Drivers
LOW COMPLETED INVENTORY - Co said small stock of ready-to-sell apartments limited revenue and affected financial results in Q2
SHIFT TO RESIDENTIAL - Co said it is shifting focus from commercial to residential projects due to higher construction costs and unchanged rental prices

Company press release: ID:nGNEbbgm7k

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
EUR 2.38 mln
 
Q2 Net Loss
 
EUR 1.44 mln
 
Q2 Gross Profit
 
EUR 80,000
 
Q2 Pretax Loss
 
EUR 1.11 mln
 

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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.)