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
More2023-06-30
S&P Global Ratings confirmed BB+ rating with a stable outlook granted to Akropolis Group
The international rating agency S&P Global Ratings (S&P), having performed a regular review of the rating it granted, kept the same rating previously given to the real estate management and development company Akropolis Group, leader among shopping and entertainment centres in the Baltic States.
Having assessed the financial situation of Akropolis Group and the prospects of its key financial indicators, the S&P agency decided to keep the BB+ credit rating with a stable outlook granted to the company.
“S&P Global Ratings’ decision once again confirmed the firm position that Akropolis Group holds in the Baltic market of shopping centres. Foreign financial experts note that the financial standing of the company remains solid, and the debt-to-asset ratio is good. The five major shopping and entertainment centres managed in Lithuania and Latvia attract big visitor traffic, and the tenants’ sales keep growing despite economic and geopolitical challenges,” comments Nerijus Maknevičius, the CEO and the Chairman of the Board of Akropolis Group.
According to him, the assessment by the international rating agency is significant not only for Akropolis Group but also for its business partners and investors, as they can refer to a third-party objective assessment of the business situation and prospects of the group. It is noted in the rating review report that during the coming 12 months the company is expected to keep the adequate liquidity reserve and increase its rental income.
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 75.1 million last year, and its earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to EUR 71.9 million, which is respectively 31% and 26% more than in 2021.
Other news
All news
2024-04-09
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
2023-05-31
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
2023-01-25
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
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