CONSOLIDATED STATEMENT OF FINANCIAL POSITION 4TH QUARTER 2021

Summus Capital balance sheet increased to 404m EUR

According to the un-audited financial statement released by the Baltic real estate investment holding Summus Capital, by the end of 2021 the balance sheet of the company increased to 404m EUR compared to 345m EUR in the previous year.
Summus Capital’s sales revenue grew almost two times to 29,5m EUR in 2021 from 17,7m EUR in 2020. Operating profit grew over six times from mere 5m EUR in 2020 to 31m EUR in 2021, profit before taxes increased from 23m EUR to 25m EUR.
“2021 was a significant year in the history of Summus Capital. Our bonds were admitted to trading on the Nasdaq Baltic First North market by Nasdaq Riga as of October 19. Additionally, Summus Capital has become the owner of DEPO DIY’s store in Imanta, Riga. While we are happy to report good results in strategic growth so far, we are looking into the future with caution due to current situation” said Hannes Pihl, member of Summus Capital management board.
In the third quarter of 2021 the international rating agency Scope assigned first-time issuer rating of BB/Stable to Summus Capital.
Summus Capital also engaged a new investment management partner for its whole portfolio. The new partner of Summus Capital is Green Formula Capital OÜ, a manager with a strong focus on green real estate concept.
The company supports and values Estonian sports. The Estonian Tennis Association and Summus Capital signed an agreement according to which Summus Capital will support Estonian youth tennis in the coming years.
In January 2022, Summus Capital OÜ announced its plans for a new unsecured bond issue in the amount of up to 15 million euros in line with the company’s Baltic real estate portfolio diversification and sustainability strategy. The private placement of the bonds is planned to take place in the first half of 2022.