Tags: Summus Capital manages Nordika financial results stable growth
| Summus Capital, one of the largest real estate investment companies in the Baltic States, which manages “Nordika” in Vilnius and the business center “Park Town”, announces the audited financial results for 2023. Despite the difficult economic environment, the company recorded successful performance results – it maintained a stable sales pace and increased the value of investment assets. in 2023 Summus Capital’s finances remained stable – the company’s total assets amounted to 425.9 million. euros (in 2022 – 429.1 million euros). The group’s cash balance amounted to 15.9 million. EUR, and the value of investment assets increased to 401.2 million. euros (in 2022 – 397.7 million euros). Total liabilities decreased to 246.1 million. euros (249.7 million euros in 2022). Summus Capital’s consolidated sales revenue remained the same as in 2022 at $39.1 million. euros (in 2022 – 39.0 million euros). The group of companies also increased its net rental income – they increased by 8.3 percent, and the operating profit jumped to 23.7 million. EUR (9.4 million EUR in 2022). The net profit was 8.5 million. EUR (14.5 million EUR in 2022). “In 2023 audited financial statements clearly show the company’s resilience to economic fluctuations. Summus Capital remains committed to stability and sound financial management. The focus on sustainability and strategic growth allowed us to effectively overcome the challenges”, says Aavo Koppel, member of the board of Summus Capital.
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