Estonia, Investments, Real Estate

Revenue decreased by 23.6%. The company's audited net loss amounted to 2,600 million euro, compared to 2012 loss of 6.182 million euro. Loss decreased by 57.9%.

The management Board suggestion is to cover the loss of financial year 2013 with retained earnings of previous periods.

Loss for the financial year 2013 was caused mainly due to the intensive preparation of new developmental projects and lack of stock available for sale, the loss was in line with the company's expectations.

For the company, 2013 was the year of preparations to start with new development projects. Construction works of new residential building in Lithuania Vilnius, at Saltiniu Namai residential building complex, which is being developed by Pro Kapital and of new residential building in Estonia Tallinn, at Tondi Residential Quarter started in I quarter of 2014. Presales of both buildings have been positive. Prior to start with the construction works 74% of the units of the Vilnius new residential building have been sold to the buyers. Prior to start with the construction works 29% of all apartments of Tondi Residential Quarter new building have found a buyer.