Estonia's Hepsor Q1 revenue falls as apartment deliveries drop

Hepsor AS

29/04/2026 06:17

Overview

Baltic real estate developer's Q1 2026 revenue fell sharply yr/yr as fewer apartments delivered

Company posted Q1 net loss as revenue and profitability declined from prior year

Record number of apartments under construction; further asset growth expected in coming quarters

Outlook

Hepsor plans to launch construction of five new development projects in 2026

Company expects further growth in total assets in subsequent quarters as new projects begin

Construction of 49 new homes at Manufaktuuri 12 in Tallinn to be completed in Q3 2026

Result Drivers

FEWER APARTMENT DELIVERIES - Revenue and profitability were affected by a decrease in the number of apartments delivered to customers compared to Q1 2025

ACTIVE CONSTRUCTION PIPELINE - Record number of apartments under construction and strong initial sales under contract, but these did not contribute to Q1 revenue due to delivery timing

Company press release: ID:nGNEfPjD7

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
EUR 3.84 mln
Q1 Net Income
-EUR 774,000
Q1 Gross Profit
EUR 336,000
Q1 Pretax Profit
-EUR 774,000


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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.)