UPP & CO Kauno 53 OÜ consolidated unaudited financial results for Q4 and 12 months of 2022
General information
UPP & CO Kauno 53 OÜ, the parent company of the consolidation group, was founded in order to acquire and manage investment property and involve additional capital for these transactions.
In 2017, the company acquired 100% holding in Promalita UAB, a company registered in the Republic of Lithuania, which owns a logistics centre near Vilnius. The net internal area of the centre is 21,232 m2 and it is fully rented out. Rimi retail chain is the anchor tenant.
Comment on economic performance and management report
Net rental income was 321 065 euros in 4Q 2022 (4Q 2021: 327 301) and 1 280 574 euros for the twelve months of 2022 (1 309 432 euros for 12 months of 2021) Operating profit was 246 232 euros in 4Q 2022 (4Q 2021: 252 848) and 1 386 191 euros for the twelve months of 2022 (983 305 euros for 12 months of 2021). Net income was 96 029 euros in 4Q 2022 (4Q 2021: 120 835) and 767 609 euros for the twelve months of 2022 (397 004 euros for 12 months 2021).
The decrease in net rental income and operating- and net profit in 4Q 2022 is due to absence of additional income from rent of equipment (racks) in 2022. The increase in twelve-month operating- and net profit is a result of the revaluation of the real estate investment in Q1 2022 by an accredited appraiser.
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Financial ratios of the Group |
|
2022 12 months** |
2021 12 months* |
|
Debt to equity ratio |
|
4,43 |
6,42 |
|
Debt ratio |
0,84 |
0,88 |
|
Long-term debt ratio |
0,81 |
0,73 |
|
Return on equity % |
|
31,68% |
22,85% |
|
Equity ratio |
|
0,159 |
0,115 |
|
Return on assets % |
|
4,50% |
2,36% |
*From audited report
** From unaudited report
Management board and Supervisory board
The management board of UPP & CO Kauno 53 OÜ consists of one member: Marko Tali, Chairman of the Management Board. The supervisory board of UPP & CO Kauno 53 OÜ consists of three members: Mart Tooming, Tarmo Rooteman, Hallar Loogma.
No remuneration or other benefits are provided to the members of the management board and the supervisory board.
The management board of Promalita UAB has also one member: Siim Sild, who receives symbolic remuneration.
Other than the management board and the supervisory board, the Company has no employees.
UPP & CO Kauno 53 OÜ and its subsidiary Promalita UAB are a going concern.
CONSOLIDATED INTERIM ANNUAL ACCOUNTS
CONSOLIDATED BALANCE SHEET
(EUR)
|
|
31.12.2022** |
|
31.12.2021* |
|
|
|
|
|
|
|
|
Cash |
706 207 |
|
597 244 |
|
|
Receivables and prepayments |
17 745 |
|
12 197 |
|
|
Total current assets |
723 952 |
|
609 441 |
|
|
|
|
|
|
|
|
Investment properties |
16 150 000 |
|
15 750 000 |
|
|
Tangible fixed assets |
404 |
|
2 941 |
|
|
Goodwill |
213 476 |
|
426 944 |
|
|
Total fixed assets |
16 363 880 |
|
16 179 885 |
|
|
|
|
|
|
|
|
TOTAL ASSETS |
17 087 832 |
|
16 789 326 |
|
|
|
|
|
|
|
|
Short-term loans payable |
460 000 |
|
7 053 334 |
|
|
Payables and prepayments |
104 893 |
|
154 786 |
|
|
Total current liabilities |
564 893 |
|
7 208 120 |
|
|
|
|
|
|
|
|
Long-term loans payable |
11 505 184 |
|
5 371 850 |
|
|
Long-term provisions |
2 314 006 |
|
2 273 216 |
|
|
Total non-current liabilities |
13 819 190 |
|
7 645 066 |
|
|
|
|
|
|
|
|
TOTAL LIABILITIES |
14 384 083 |
|
14 853 186 |
|
|
|
|
|
|
|
|
Share capital |
2 500 |
|
2 500 |
|
|
Retained earnings |
2 701 249 |
|
1 933 640 |
|
|
TOTAL EQUITY |
2 703 749 |
|
1 936 140 |
|
|
|
|
|
|
|
|
TOTAL LIABILITIES AND EQUITY |
17 087 832 |
|
16 789 326 |
|
*From audited report
** From unaudited report
CONSOLIDATED INCOME STATEMENT
(EUR)
|
|
|
2022 12 months** |
|
2022 Q4** |
|
2021 12 months* |
|
2021 Q4* |
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales revenue |
|
1 280 574 |
|
321 065 |
|
1 309 432 |
|
327 301 |
|
|
Other revenues |
400 000 |
|
0 |
|
0 |
|
0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of goods sold |
-3 516 |
|
-2 784 |
|
0 |
|
0 |
|
|
Other operating expenses |
-74 412 |
|
-18 274 |
|
-107 503 |
|
-19 871 |
|
|
Staff costs |
-454 |
|
-114 |
|
-390 |
|
-100 |
|
|
Depreciation of fixed assets |
|
-216 001 |
|
-53 661 |
|
-218 234 |
|
-54 482 |
|
|
Operating profit |
|
1 386 191 |
|
246 232 |
|
983 305 |
|
252 848 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial income (expenses) |
-495 239 |
|
-136 254 |
|
-514 551 |
|
-113 901 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit before income tax |
890 952 |
|
109 978 |
|
468 754 |
|
138 947 |
|
|
Income tax |
|
-123 343 |
|
-13 949 |
|
-71 750 |
|
-18 112 |
|
|
Net profit for financial year |
767 609 |
|
96 029 |
|
397 004 |
|
120 835 |
|
|
|
|
|
|
|
|
|
|
|
|
|
including the share of the owners of the parent company in net profit |
767 609 |
|
96 029 |
|
397 004 |
|
120 835 |
|
*From audited report
** From unaudited report
UNITED PARTNERS
Siim Sild
Managing Director
+372 5626 0107
siim.sild@unitedpartners.ee
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