Published: 2022-01-31 18:00:00 CET
BH Meraki UAB
Interim information

BH Meraki UAB - unaudited results for the first 12 months of 2021

For the entire year of 2021, Company's loss before taxation was equal to EUR 418.242 (2020: loss of EUR 176.111), a net loss of the Company was equal to EUR 356.862 (2020: loss of EUR 149.694).

As of 31 December 2021 and 31 December 2020, the authorised capital of the Company comprised of 2.000.000 ordinary shares at a nominal value of 1 EUR. As of 31 December 2021 and 31 December 2020, the Company’s sole shareholder was Baltic Horizon Fund (Estonia). As of 31 December 2021, the total assets of the Company increased to EUR 14.193.354 (31 December 2020: EUR 6.849.677). As of 31 December 2021, the total liabilities of the Company increased to EUR 12.825.836 (31 December 2020: EUR 5.156.011).

As of 31 December 2021, contingent liabilities of the Company included commitments to investment property builders for the current stage of construction. The construction contract with the general contractor covers the construction of all investment property, but the construction work and the commitments to pay for the work are approved in stages. An unrecognised amount in the balance sheet for construction work still to be performed under outstanding commitments on 31 December 2021 amounted to EUR 3.8 million. The first tower is expected to be completed in 2022 and the second one in 2023.

Loan to Cost (LTC) was equal to 32.4%, as of 31 December 2021 the Company complied with all conditions regarding its obligations to Bondholders according to the terms of EUR 5.00 UAB BH MERAKI OBLIGACIJOS 21-2022 (ISIN code: LT0000405243) issue.

For more information, please contact: 

Tarmo Karotam
Baltic Horizon Fund manager
E-Mail: tarmo.karotam@nh-cap.com


2021 Q4 BH Meraki UAB Financial statements.pdf