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Edge20 Mar 2026
Tetra Pak: The Shape of Innovation
The story of Tetra Pak, the Rausing family, and how a paper tetrahedron gave rise to a company that now delivers almost 180 billion packages a year.
Hepsor
Hepsor (HPR1T) investor relations material
Hepsor Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary18 Feb, 2026
Executive summary
Revenue for 2025 was €35.4M, down from €38.4M in 2024; net profit was €1.0M, down from €2.1M year-over-year.
Q4 2025 revenue was €4.5M (Q4 2024: €10.5M); net loss of €0.5M in Q4 2025 (Q4 2024: net profit €1.0M).
Lower apartment handovers (141 vs. 194 in 2024) and reduced profit margins impacted results.
Marketing expenses rose to €1.3M (2024: €0.9M) due to increased project activity.
Successful €8M bond issue in November 2025, oversubscribed 1.4x, with 9.5% annual interest.
Financial highlights
Gross profit for 2025 was €5.6M (2024: €6.8M); gross margin 15.9% (2024: 17.6%).
Operating profit was €3.4M (2024: €4.3M); operating margin 9.5% (2024: 11.3%).
Net profit margin for 2025 was 2.9% (2024: 5.6%).
Total assets at year-end were €91.8M (2024: €88.8M); equity increased to €27.1M (2024: €22.0M).
Debt ratio improved to 52.0% (2024: 61.6%); adjusted equity ratio rose to 47.0% (2024: 43.2%).
Outlook and guidance
Plans to launch five new projects in 2026: two residential and one commercial in Estonia, one residential and one commercial in Latvia.
Canadian projects focus on land-use planning and increasing building rights; 3,000 rental apartments in pipeline.
2026 will see construction starts for V7, Paevälja quarter, Peetri business centre, Veidema quarter, and Starta 17.
Expected timeline for Canadian project exits?
Actions to address lower project profit margins?
Impact of increased contingent liabilities on cash flow?
Partial view of Summaries dataset, powered by Quartr API
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Latest events from Hepsor
- 9M 2025 revenue grew to €30.9M, net profit reached €1.5M, and loan liabilities declined.HPR1T
Q3 202529 Oct 2025 - H1 2025 saw strong revenue growth, a return to profit, and an expanding development pipeline.HPR1TQ2 202530 Jul 2025
- Revenue up in Q3, but 2024 outlook cut as Baltic markets weaken and Canada expansion grows.HPR1TQ3 202413 Jun 2025
- H1 2024 saw a net loss and lower revenue, with H2 expected to drive results as projects complete.HPR1TQ2 202413 Jun 2025
- Q1 2025 revenue up 261% year-over-year, with narrowed net loss and robust project pipeline.HPR1TQ1 20256 Jun 2025
- Hepsor's 2024 profit dropped as revenue softened, but development and expansion continued.HPR1TQ4 20246 Jun 2025
Next Hepsor earnings date
Q1 202629 Apr, 2026
Hepsor
Next Hepsor earnings date
Q1 202629 Apr, 2026
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Amina0781App Store
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@theshortbearx.com
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