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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Baltic Sea Properties
Baltic Sea Properties (BALT) investor relations material
Baltic Sea Properties Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary28 Aug, 2026
Executive summary
Achieved solid operational performance in H1 2026, with profit rising to €3.42m from €1.34m year-over-year, despite a temporary vacancy at BSP Park Vilnius East and sale-related one-offs.
Portfolio value increased to €126.1m, reflecting a valuation uplift driven by CPI-linked rental growth and modest yield compression.
Maintained high customer satisfaction and low vacancy, with NOI margin at 93.4% across the standing portfolio.
Distributed a NOK 2.00 per share dividend and executed share buybacks at a significant discount to NAV.
Financial highlights
Rental income was €4.37m, down from €4.60m in H1 2025 due to temporary vacancy and asset sales.
EBITDA reached €3.08m (margin 68.4%), while income from property management was €1.57m.
EPRA earnings amounted to €1.28m, or NOK 1.65 per share.
Net LTV stood at 46.8%, with interest coverage ratio at 2.18x (including mezzanine interest).
Portfolio value rose to €126.1m from €114.7m year-over-year.
Outlook and guidance
Contracted rents indicate a stronger H2 2026, with income from property management now ahead of budget.
Priorities include letting remaining space at Liepų Parkas and Vilnius East, progressing asset sales, and maintaining stable dividends.
Lithuania's economy is forecast to grow 3.1% in 2026, supporting property market fundamentals.
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Latest events from Baltic Sea Properties
- Q1 2026 saw stable growth in rental income, NAV, and improved leverage metrics.BALT
Q1 2026 - 2025 saw 10% income growth, higher NAV, and share buybacks amid improved financial metrics.BALTQ4 2025
- Strong rental growth, higher EBITDA, and robust portfolio expansion drive value creation.BALTQ3 2025
- Rental income and EBITDA grew 11% year-over-year, with strong cash flow and ongoing developments.BALTQ2 2025
- Rental income and NAV rose, net profit increased, and funding costs are expected to improve.BALTQ3 2024
- Strong H1 2024 results, improved profit, and solid growth despite market headwinds.BALTQ2 2024
- Q1 2025 delivered strong rental growth, higher EBITDA, and improved leverage metrics.BALTQ1 2025
- Solid financial results, portfolio growth, and improved market outlook position BSP for 2025.BALTQ4 2024
Next Baltic Sea Properties earnings date
Q3 202620 Nov, 2026
Baltic Sea Properties
Next Baltic Sea Properties earnings date
Q3 202620 Nov, 2026
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Frequently asked questions
Baltic Sea Properties AS is a Norway-based real estate company with a strategic focus on the Baltic countries. This company operates through fully-owned subsidiaries, all registered in Lithuania, indicating a specialized regional focus. It stands out as one of Lithuania's notable real estate investors, engaging in the ownership, development, and management of a diverse portfolio that includes retail, logistics, and industrial properties. The company is committed to providing sustainable investment returns through premises leasing, real estate services, joint venture partnerships, and focusing on sustainability and flexibility to meet client and investor needs. It's recognized for its strengths in developing logistics, industrial, and commercial real estate, underscoring its position in the market. The company is headquartered in Oslo, Norway, and its shares are listed on the Euronext Growth Oslo.