2024 results of Akropolis Group: the tenants’ turnover exceeds EUR 1.2 billion, opening of over 130 new and revamped shops, over 44 million visitors, growth of the Group’s revenue
More2025-03-28
2024 results of Akropolis Group: the tenants’ turnover exceeds EUR 1.2 billion, opening of over 130 new and revamped shops, over 44 million visitors, growth of the Group’s revenue
2024 was the year of stable and successful business to Akropolis Group. Five shopping and entertainment centres managed by the Group in Lithuania and Latvia had more than 44 million of visitors per year, the tenants’ turnover exceeded EUR 1.2 billion, over 130 new and revamped shops were opened. The consolidated EBITDA of Akropolis Group reached EUR 87.8 million.
“Our aim is that Akropolis centres continue to be shopping and entertainment centres attractive both to visitors and tenants in the long term. Last year, we focused on the renovation and development of shopping centres, also on opening of new and revamped shops. We consistently invest in infrastructure, new partnerships and sustainable solutions. Despite the intensive process of change implementation, the visitor footfall in the shopping centres remained stable in 2024, whereas the tenants’ turnover saw a moderate growth and went above EUR 1.2 billion threshold for the first time in the history of the Group’s operations. We will continue the projects we have started further into 2025 and will offer visitors shops and service places of new brands to enhance Akropolis leadership”, comments Gabrielė Sapon, the CEO of Akropolis Group.
The consolidated rental income of Akropolis Group in 2024 amounted to EUR 91.4 million, which is 9% more than in 2023 (EUR 84 million). The Group’s earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to EUR 87.8 million, which is 6% more than in 2023 (EUR 83.1 million). All Akropolis centres have maintained a very high occupancy rate of shopping and entertainment spaces – 98.3% of their area has been rented.
In 2024, S&P Global Ratings and Fitch Ratings reconfirmed credit ratings BB+ with a stable outlook for Akropolis Group. This proves the stability of the Group’s operations and responsible management of finances.
Investment into development and renovations
2024 was a year of active investment and development for Akropolis Group. Last year, the Klaipėda Akropolis common spaces interior design renovation project, which lasted more than a year and received EUR 8 million investment, came to an end. It involved renovation of over 11,000 sq. m of common spaces, set up of modern childcare rooms, renovation and expansion of sanitary facilities. Along with the above, the tenants have also implemented important changes and renovations: last year, Maxima grocery supermarket, the largest in Western Lithuania, welcomed visitors after revamping, as well as a trampoline and entertainment park Jumpland, also a new-concept entertainment operator Action! by Apollo.
The area of Vilnius Akropolis was expanded by erecting a new commercial building of 480 sq. m nearby the shopping centre building. Now it houses a new-concept expanded Sportland shop, the largest in Lithuania, which also connects to its old premises.
The five Akropolis saw opening of 135 new and revamped shops, service and entertainment venues in total in 2024, including 90 in Lithuania and 45 in Latvia. Among them, there are such international brands as JD Sports, Weekend Max Mara, Sinsay, Timberland, which opened new shops, also Bershka, Pull & Bear, Stradivarius, Reserved, McDonalds, and many others, which revamped their shops or restaurants in accordance with the latest concepts.
“We are delighted that Akropolis centres tend to be chosen both by brands entering the Baltic States for their first shops and by brands already favoured by our visitors for their development and opening of their latest-concept shops. We, in our turn, place a particular focus on strengthening the leading positions of the shopping centres we hold in Lithuania and in Latvia. We aim not only to attract new brands to Akropolis but also improve the visitor experience and create added value both for visitors and our tenants,” says G. Sapon.
The project of renovation of common spaces on the Vilnius Akropolis second floor, started in February, is currently in progress.
The development plans of Akropolis Group include the development of the multifunctional complex Akropolis Vingis in Vilnius. In August 2024, the Vilnius City Municipality issued a document permitting construction for a multifunctional building, currently the approval of the last external traffic infrastructure improvement project and the issuance of a document permitting construction for it are pending. After this permit is received, the company will update expense estimates for construction of the multifunctional quarter and the public infrastructure improvement works planned in the neighbourhood, revise the investment plan for the project implementation, select optimal solutions to finance the project.
More focus on sustainability
Akropolis Group continued its focus on sustainable activities last year. In January 2025, the recertification of Vilnius, Klaipėda and Šiauliai Akropolis according to the international BREEAM In-Use standard was finalised. Now, all the five Akropolis managed by the Group have BREEAM certificates at Very Good level.
“We had a target for all the shopping centres that the Group controls to obtain the Very Good assessment according to the BREEAM standard by 2026. We are, therefore, delighted to have achieved this ambitious goal a year before the target date. This assessment is significant for us, as it confirms that all the shopping and entertainment centres Akropolis are managed by minimising their impact on the environment: we implement energy saving measures, effectively manage water consumption, optimise waste management system,” lists G. Sapon, the CEO of Akropolis Group.
At the beginning of 2025, Akropolis Group developed a Green Finance Framework that received a positive assessment. This framework allows for an even closer link between the sustainability objectives of the company and its financial activities, provides an opportunity to finance or refinance projects meeting the sustainability criteria specified in the framework using various green financing instruments.
The full consolidated financial report of Akropolis Group for 2024 is available on the website of the company.
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2025-03-28
2025-02-28
Akropolis Group has launched a Green Finance Framework that has received a positive assessment
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2025-01-21
From now on, all shopping centres Akropolis managed by Akropolis Group in Lithuania and Latvia have BREEAM Very good certificates
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2024-12-20
Renovated shopping centre Akropolis Klaipėda features new shops and entertainment areas as well as modern common spaces
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2024-11-27
G. Sapon appointed new CEO of Akropolis Group, N. Maknevičius to continue as the Chairman of the Board
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2024-11-22
A document permitting construction issued for the infrastructure project at Eigulių street, adjacent to the complex Akropolis Vingis
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2024-09-11
Shopping centres managed by Akropolis Group had 21.1 million visitors during the first half of the year, the tenants’ turnover reached almost EUR 550 million
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2024-08-30
The multifunctional project Akropolis Vingis has been issued a document permitting construction: further stages of the project implementation being planned
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2024-08-26
Construction of a new building nearby Vilnius Akropolis is completed – it became home for the expanded and revamped Sportland store
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2024-07-17
Fitch Ratings re-confirmed BB+ credit rating with a stable outlook for Akropolis Group
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2024-05-27
For the third consecutive year, Akropolis Group maintains its BB+ rating with a stable outlook granted by S&P Global Ratings
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2024-04-09
Shopping centres controlled by Akropolis Group had over 44 million visitors last year, the tenants’ turnover reached almost EUR 1.2 billion, over 100 new and revamped shops opened, leading to growth of the Group’s revenue
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2024-01-15
Sanita Krīgere takes the position of Manager of the shopping and entertainment center AKROPOLE Alfa
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2023-10-05
Akropolis Group’s shopping centre Akropole Alfa in Riga has obtained a BREEAM sustainability certificate
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2023-09-13
Results of Akropolis Group’s shopping centres grow - in the first half of this year, they welcomed almost 21 million visitors, whereas the turnover of tenants exceeded EUR 543 million
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2023-07-21
Fitch Ratings confirmed BB+ credit rating with a stable outlook granted for Akropolis Group
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2023-06-30
S&P Global Ratings confirmed BB+ rating with a stable outlook granted to Akropolis Group
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2023-06-14
Akropolis Group has received international certificates for environmental protection and safe working environment
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2023-05-31
Akropolis Klaipėda is about to change its looks: The interior design of the shopping and entertainment centre is undergoing a major revamp
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2023-04-06
Akropolis Group’s 2022 results: the acquisition of Akropole Alfa and the cancellation of pandemic restrictions has led to increased tenants’ turnover, income and EBITDA
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2023-03-10
The largest Massimo Dutti shop in Lithuania and 10 more new and revamped shops in Akropolis Vilnius
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2023-01-25
Design proposals for the transport infrastructure nearby multifunctional complex Akropolis Vingis have been presented to the public
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2023-01-11
Design proposals for the planned improvements of the transport infrastructure nearby the multifunctional complex Akropolis Vingis are being presented to the public
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2023-01-05
Design proposals for a new 480 m2 building planned to be constructed near the shopping and entertainment centre Akropolis Vilnius have been presented to the public
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2022-12-20
Design proposals of a new 480 m2 building, planned to be constructed near the shopping and entertainment centre Akropolis in Vilnius, will be presented to the public
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2022-11-24
Over half a million Lithuanian and Latvian residents visited the shopping centres Akropolis during the big sale days Jamam
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2022-10-18
The Vilnius City Municipality approved the design proposals for the multifunctional complex Akropolis Vingis
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2022-09-20
Swedbank, together with OP Bank, refinanced a previous loan of Ozo turtas, a company which manages Akropolis Vilnius
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2022-09-14
In the first half of the year Akropolis Group’s tenants’ turnover exceeded the pre-pandemic levels
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2022-08-26
Fitch Ratings re-confirmed BB+ credit rating with a stable outlook for Akropolis Group
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2022-07-22
Design proposals of multifunctional complex Akropolis Vingis, planned in Vilkpėdė district in Vilnius, were presented to the public
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2022-07-01
Akropolis Vingis: former industrial area in Vilnius's Vilkpėdė district will become a new quarter of the city
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2022-06-20
Vilnius Regional Council of Architects has positively evaluated the architectural idea of the multifunctional complex Akropolis Vingis planned in Vilkpėdė district in Vilnius
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2022-05-27
Design of the multifunctional complex Akropolis Vingis presented to the Council of Architects
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2022-05-20
Design of new building planned nearby AKROPOLIS in Klaipėda, Lithuania presented to the public
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2021-12-14
The multifunctional complex Akropolis Vingis was presented to the Vilnius Regional Council of Architects: compliments for the innovative idea and recommendations
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2021-11-27
Latvian Competition Council has granted Akropolis Group an unconditional merger clearance to acquire shopping centre Alfa in Riga, Latvia
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2021-10-27
S&P Global Ratings positively revised the outlook of Akropolis Group’s credit rating BB+ to stable
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2021-10-19
Restart of the conversion project in Vilkpėdė district of Vilnius: construction of the multifunctional complex Akropolis Vingis is planned to start next year
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2021-08-27
Vilnius, Klaipėda and Šiauliai Akropolis were certified according the international BREEAM standart
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