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 millionMore
Fitch Ratings confirmed BB+ credit rating with a stable outlook granted for Akropolis Group
The international credit rating agency Fitch Ratings re-confirmed the long-term borrowing rating BB+ with a stable outlook, granted to the real property development and management company Akropolis Group, the leader among shopping and entertainment centres in the Baltics, for the third year in a row.
“The positive assessment from the international credit rating agency confirms that, in spite of challenges faced by the commercial sector in the recent years, Akropolis Group is resilient to the impact of external factors – the Group keeps achieving good financial results and remains a stable and leading participant of the shopping centres market. We aim to continue to be the first choice for our visitors and partners, as well as to further strengthen our positions in the Lithuanian and Latvian market of shopping centres. We hope to continue maintaining a low vacancy rate in the shopping centres we manage and to keep steadily growing the group’s revenue,” comments Nerijus Maknevičius, the CEO and the Chairman of the Board of Akropolis Group.
The credit rating agency Fitch Ratings, deciding to keep the same rating, took into account good financial and operational performance of Akropolis Group, leading positions of the shopping centres managed by the Group in the cities where they operate, also a low rate of vacancies in them.
Akropolis Group was first rated by the international rating agencies S&P Global Ratings and Fitch Ratings in May 2021. In June this year, the international rating agency S&P Global Ratings also re-confirmed BB+ rating with a stable outlook granted to Akropolis Group.
Akropolis Group manages shopping and entertainment centres Akropolis in Vilnius, Klaipėda and Šiauliai, also Akropole Alfa and Akropole Riga in Riga, Latvia.
In June 2021, Akropolis Group successfully placed its debut EUR 300 million 5-year bond issue with 2.875% annual interest. The bonds of the Company are listed on Nasdaq Vilnius and Euronext Dublin stock exchanges.
Based on the audited consolidated financial data, Akropolis Group earned rental income of EUR 75.1 million last year, and its EBITDA amounted to EUR 71.9 million, which is respectively 31% and 26% more than in 2021.
Other newsAll news
Fitch Ratings confirmed BB+ credit rating with a stable outlook granted for Akropolis GroupMore
S&P Global Ratings confirmed BB+ rating with a stable outlook granted to Akropolis GroupMore
Akropolis Group has received international certificates for environmental protection and safe working environmentMore
Akropolis Klaipėda is about to change its looks: The interior design of the shopping and entertainment centre is undergoing a major revampMore
Akropolis Group’s 2022 results: the acquisition of Akropole Alfa and the cancellation of pandemic restrictions has led to increased tenants’ turnover, income and EBITDAMore
The largest Massimo Dutti shop in Lithuania and 10 more new and revamped shops in Akropolis VilniusMore
Design proposals for the transport infrastructure nearby multifunctional complex Akropolis Vingis have been presented to the publicMore
Design proposals for the planned improvements of the transport infrastructure nearby the multifunctional complex Akropolis Vingis are being presented to the publicMore
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 publicMore
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 publicMore
Over half a million Lithuanian and Latvian residents visited the shopping centres Akropolis during the big sale days JamamMore
The Vilnius City Municipality approved the design proposals for the multifunctional complex Akropolis VingisMore
Swedbank, together with OP Bank, refinanced a previous loan of Ozo turtas, a company which manages Akropolis VilniusMore
In the first half of the year Akropolis Group’s tenants’ turnover exceeded the pre-pandemic levelsMore
Fitch Ratings re-confirmed BB+ credit rating with a stable outlook for Akropolis GroupMore
Design proposals of multifunctional complex Akropolis Vingis, planned in Vilkpėdė district in Vilnius, were presented to the publicMore
Akropolis Vingis: former industrial area in Vilnius's Vilkpėdė district will become a new quarter of the cityMore
Vilnius Regional Council of Architects has positively evaluated the architectural idea of the multifunctional complex Akropolis Vingis planned in Vilkpėdė district in VilniusMore
Design of the multifunctional complex Akropolis Vingis presented to the Council of ArchitectsMore
Design of new building planned nearby AKROPOLIS in Klaipėda, Lithuania presented to the publicMore
The multifunctional complex Akropolis Vingis was presented to the Vilnius Regional Council of Architects: compliments for the innovative idea and recommendationsMore
Latvian Competition Council has granted Akropolis Group an unconditional merger clearance to acquire shopping centre Alfa in Riga, LatviaMore
S&P Global Ratings positively revised the outlook of Akropolis Group’s credit rating BB+ to stableMore
Restart of the conversion project in Vilkpėdė district of Vilnius: construction of the multifunctional complex Akropolis Vingis is planned to start next yearMore