--}}
2024-05-27

For the third consecutive year, Akropolis Group maintains its BB+ rating with a stable outlook granted by S&P Global Ratings

The international rating agency, S&P Global Ratings, has reassessed the performance of the company and other circumstances based on which Akropolis Group, a shopping and entertainment centres management and development company, was previously granted BB+ rating with a stable outlook, and following the review, has affirmed the company’s rating for the third consecutive year.

After analysing Akropolis Group’s financial results, current financial situation and outlooks for key financial indicators, S&P Global Ratings highlighted the Group’s growth in rental income and the positive development of its financial results, as well as the moderate growth in the value of the five shopping and entertainment centres Akropolis managed by the Group in Lithuania and Latvia and decided to uphold the BB+ credit rating with a stable outlook as previously granted to the company.

“The rating by the international rating agency S&P Global Ratings is significant not only for Akropolis Group’s operations but also for our business partners and investors. The credit rating, affirmed for the third year in a row, reflects the stability of our operations, our strong position in the Baltic shopping centre market, and the growth of our results. This confirms that the shopping and entertainment centres managed by the Group are performing well and the Group is generating growing financial results,” comments Nerijus Maknevičius, the CEO and the Chairman of the Board of Akropolis Group.

According to the forecasts in S&P Global Ratings’ rating review report, Akropolis Group should maintain its current debt to debt plus equity ratio and continue to increase rental income over the next 12 to 24 months.

Akropolis Group was first rated by the international rating agencies S&P Global Ratings and Fitch Ratings in May 2021.

In June 2021, Akropolis Group successfully placed its debut EUR 300 million 5-year bond issue with 2.875% annual interest. The bonds of Akropolis Group are currently listed on Nasdaq Vilnius and Euronext Dublin stock exchanges.

Based on the audited consolidated financial data, Akropolis Group earned rental income of EUR 84 million last year, and its earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to EUR 83.1 million, which is respectively 12% and 16% more than in 2022.

Other news

All news
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

More
2024-09-05

Kaspars Beitiņš has been appointed as the CEO of SIA "Akropole Rīga"

More
2024-08-30

The multifunctional project Akropolis Vingis has been issued a document permitting construction: further stages of the project implementation being planned

More
2024-08-26

Construction of a new building nearby Vilnius Akropolis is completed – it became home for the expanded and revamped Sportland store

More
2024-07-17

Fitch Ratings re-confirmed BB+ credit rating with a stable outlook for Akropolis Group

More
2024-05-27

For the third consecutive year, Akropolis Group maintains its BB+ rating with a stable outlook granted by S&P Global Ratings

More
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

More
2024-01-15

Sanita Krīgere takes the position of Manager of the shopping and entertainment center AKROPOLE Alfa

More
2023-10-05

Akropolis Group’s shopping centre Akropole Alfa in Riga has obtained a BREEAM sustainability certificate

More
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

More
2023-07-21

Fitch Ratings confirmed BB+ credit rating with a stable outlook granted for Akropolis Group

More
2023-06-30

S&P Global Ratings confirmed BB+ rating with a stable outlook granted to Akropolis Group

More
2023-06-14

Akropolis Group has received international certificates for environmental protection and safe working environment

More
2023-06-05

New CEO of AKROPOLIS GROUP appointed

More
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

More
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

More
2023-03-10

The largest Massimo Dutti shop in Lithuania and 10 more new and revamped shops in Akropolis Vilnius

More
2023-03-01

Tomas Rimkus appointed as new manager of Akropolis Klaipėda

More
2023-02-14

Akropolis Group has won recognition in the Nasdaq Baltic Awards 2023

More
2023-01-25

Design proposals for the transport infrastructure nearby multifunctional complex Akropolis Vingis have been presented to the public

More
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

More
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

More
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

More
2022-11-24

Over half a million Lithuanian and Latvian residents visited the shopping centres Akropolis during the big sale days Jamam

More
2022-10-18

The Vilnius City Municipality approved the design proposals for the multifunctional complex Akropolis Vingis

More
2022-09-20

Swedbank, together with OP Bank, refinanced a previous loan of Ozo turtas, a company which manages Akropolis Vilnius

More
2022-09-14

In the first half of the year Akropolis Group’s tenants’ turnover exceeded the pre-pandemic levels

More
2022-08-26

Fitch Ratings re-confirmed BB+ credit rating with a stable outlook for Akropolis Group

More
2022-07-22

Design proposals of multifunctional complex Akropolis Vingis, planned in Vilkpėdė district in Vilnius, were presented to the public

More
2022-07-01

Akropolis Vingis: former industrial area in Vilnius's Vilkpėdė district will become a new quarter of the city

More
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

More
2022-05-27

Design of the multifunctional complex Akropolis Vingis presented to the Council of Architects

More
2022-05-20

Design of new building planned nearby AKROPOLIS in Klaipėda, Lithuania presented to the public

More
2022-05-05

New building planned nearby AKROPOLIS in Klaipėda, Lithuania

More
2022-04-08

Akropolis Group increased its revenue, EBITDA and portfolio value last year

More
2021-12-14

The multifunctional complex Akropolis Vingis was presented to the Vilnius Regional Council of Architects: compliments for the innovative idea and recommendations

More
2021-11-27

Latvian Competition Council has granted Akropolis Group an unconditional merger clearance to acquire shopping centre Alfa in Riga, Latvia

More
2021-10-27

S&P Global Ratings positively revised the outlook of Akropolis Group’s credit rating BB+ to stable

More
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

More
2021-08-27

Vilnius, Klaipėda and Šiauliai Akropolis were certified  according the international BREEAM standart

More