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Baltic Horizon Fund
Baltic Horizon Fund (NHCBHFFT) investor relations material
Baltic Horizon Fund Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary7 May, 2026
Executive summary
Injected EUR 12.3 million new equity in March 2026, strengthening liquidity and enabling early bond repayment of EUR 7.5 million; remaining EUR 11.5 million bonds targeted for repayment in 2026, mainly via property disposals.
Q1 2026 net profit was EUR 237 thousand, impacted by EUR 286 thousand in one-off costs; adjusted net result excluding one-offs and non-cash items was EUR 601 thousand.
Overheads reduced significantly, with Q2 2026 cost base projected at EUR 100 thousand per quarter, down from EUR 207 thousand a year ago.
Management transition: Edvinas Karbauskas appointed as Chairman and Fund Manager in May 2026.
Occupancy across the portfolio remains unsatisfactory; tenant attraction and retention are top priorities.
Financial highlights
Rental income for Q1 2026 was EUR 3,646 thousand, up from EUR 3,009 thousand in Q1 2025.
Net rental income reached EUR 3,009 thousand, compared to EUR 2,970 thousand in Q1 2025.
EBIT for Q1 2026 was EUR 2,496 thousand, up from EUR 1,530 thousand in Q1 2025.
Net profit was EUR 237 thousand, a turnaround from a loss of EUR 968 thousand in Q1 2025.
Earnings per unit were EUR 0.00, compared to EUR -0.01 in Q1 2025.
Outlook and guidance
Management aims to complete at least one major property disposal in summer 2026.
Focus remains on improving occupancy and restoring profitability for unitholders.
Deferred tax assets of EUR 1.4 million may be derecognized in 2026 due to uncertainty of utilization.
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Latest events from Baltic Horizon Fund
- Net loss of EUR 20.1 million and liquidity needs drive urgent EUR 25 million equity raise.NHCBHFFT
Q4 202523 Feb 2026 - Private placement targets €10 million to cut debt, boost occupancy, and restore dividends by 2025.NHCBHFFTInvestor Update3 Feb 2026
- Approval granted for new unit issuance to strengthen capital and support growth plans.NHCBHFFTEGM 20242 Feb 2026
- Occupancy and NOI are set to rise as refinancing, leasing, and asset strategies progress.NHCBHFFTAGM 202431 Jan 2026
- Net loss deepened on valuation losses, with focus on occupancy, debt reduction, and sustainability.NHCBHFFTQ2 202423 Jan 2026
- No resolutions adopted as quorum was not reached; repeat meeting scheduled for April 2025.NHCBHFFTEGM 20257 Jan 2026
- Net rental income rose 6.3% but property disposals led to a EUR 968k net loss in Q1 2025.NHCBHFFTQ1 20256 Jan 2026
- Occupancy up, net loss narrows, and a EUR 25m equity raise is planned to cut leverage.NHCBHFFTQ3 202519 Dec 2025
- Resolution to issue new units passed with 93% approval; offering expected next quarter.NHCBHFFTEGM 202516 Dec 2025
Next Baltic Horizon Fund earnings date
Q2 20266 Aug, 2026
Baltic Horizon Fund
Next Baltic Horizon Fund earnings date
Q2 20266 Aug, 2026
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