MAIN EVENTS IN Q3 2023

August 4, 2023

Rafer party for the new Ülemiste City Health Center

Mainor Ülemiste and Fund Ehitus held a rafter party for the new Ülemiste City Health Center, introducing the current state of construction to cooperation partners and future tenants. Health Center, which will be completed next year, is a continuation of the first Health Center, which was opened and successfully launched in 2020, and the Ülemiste Surgery Clinic, created in Alma Tominga’s house, and aims to create synergy through new services in the field of personal medicine, surgery, diagnostics, and prevention and rehabilitation.

August 31, 2023

Ülemiste City launched the Green City service, which was awarded the title of Eco-Innovation of the Year

Ülemiste City launched the Green City service – a tool that helps companies collect, monitor and comprehensively analyze their consumption data. The development of the Ülemiste Green City service takes place in two stages. In 2024, the second stage of development and an application supplement will be completed, which will make it easier for companies to calculate the footprint of their employees' commutes. In the future, they also want to show the regions from which people arrive and go to the campus. The Green City service helps to raise general awareness of the field. For example, the data of the entire campus is an important value for service providers to plan their business activities more efficiently. City-wide mobility information about vehicles is also a very important indicator, because transport emissions are something that is not so clearly perceived by people.

On September 27, Tallinn recognized the best companies as part of the Tallinn Entrepreneurship Awards competition, and the freshly launched Green City service, was honored with the title of Eco-Innovation of the Year. Furthermore, the completion of the Alma Tomingas office building and the Öpik quarter was selected among the nominees in the Development Project category. 

September 21, 2023

We brought health services even closer to Ülemiste City talents

In cooperation with If Insurance, we presented the health insurance, which is increasingly becoming part of the employee’s motivation package. A significant added value without fringe benefit tax (up to €400) is an excellent opportunity for employers to promote the health of their employees. However, the use of If health insurance is particularly convenient for the Ülemiste City community – the campus top-level health service providers are compactly located only a short walk away, and not having to submit invoices themselves, but by the service provider directly, is making the whole process even more convenient for the health insurance user. 

September 21, 2023

B2B offers: a new online platform for the community

As a business campus, we aim to promote cooperation between the companies operating here. For this purpose, we have created a web-based B2B platform, where one can find discounts and other attractive offers extended to all companies operating on campus. Offers are welcomed from on-campus and off-campus companies for products and services that the companies located in Ülemiste City do not offer. 

Ülemiste City Key Figures (as of 30.09.2023)

Leasable space                          201,300 square meters

Incl. leasable office space          164,000 square meters

Occupancy rate                          91.4%

Incl. office's occupancy rate       92.3%

FINANCIAL PERFORMANCE 

3Q 2023 - Net profit EUR 1,211 thousand

Net Sales and Net Profit

• Net sales amounted to EUR 4,421 th in the 3^rd quarter, increase of 8.7% compared to the 3^rd quarter of 2022
• Operating profit amounted to EUR 3,017 th in the 3^rd quarter, increase of 9.0% compared to the 3^rd quarter of 2022
• Net profit amounted to EUR 1,211 th, decrease of 39.8% compared to the 3^rd quarter of 2022.

Expenses

• Operating expenses decreased from EUR 2,421 th (3^rd quarter 2022) to EUR 2,263 th in the 3^rd quarter of 2023
• Interest expense on loans and issued bonds increased from EUR 772 th (3^rd quarter 2022) to EUR 1,951 th.

Interest-bearing liabilities

• Mainor Ülemiste AS interest-bearing liabilities amounted to EUR 121,430 th. The Company's five largest creditors at the end of period were SEB Pank AS, Luminor Bank AS, OP Corporate Bank Plc, LHV Pank AS and COOP Pank AS.
• At the end of the reporting period, Mainor Ülemiste AS had EUR 27,317 th in untapped credit facilities.

Statement of the management board

The financial and other additional information published in the Interim Report July-September 2023 is true and complete. Consolidated financial statements give a true and fair view of the actual financial position, results of operation and cash flows of the group.

Consolidated financial statements in the report for the period July-September 2023 are not audited.

Ursel Velve
CEO
Tallinn, 31.10.2023

CONSOLIDATED INCOME STATEMENT

(According to IFRS)                                                                               In thousands Euros

* Without change of valuation of Mainor Ülemiste AS's and associate companies' investments properties.

CONSOLIATED BALANCE SHEET

(According to IFRS)                                                                           In thousands Euros

* Without change of valuation of Mainor Ülemiste AS's and associate companies' investments properties.

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

In thousands of Euros

CONSOLIDATED CASH FLOW STATEMENT

In thousands Euros