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Pro Kapital Grupp (PKG1T) Q2 2025 earnings summary

Event summary combining transcript, slides, and related documents.

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Q2 2025 earnings summary

14 Aug, 2025

Executive summary

  • Revenue for the first six months of 2025 surged to €28.5M from €6.9M year-over-year, driven by apartment handovers in Tallinn's Kalaranna District and strong project execution across the Baltics.

  • Net profit reached €6.2M, reversing a €3.0M loss in the prior year, with Q2 net profit at €4.3M versus a €1.3M loss in Q2 2024.

  • Cash from operating activities was €8.5M, compared to €4.5M used in the same period last year.

  • The Group remains focused on disciplined execution, strategic development, and value creation, positioning itself to capitalize on improving macroeconomic sentiment.

Financial highlights

  • Gross profit for H1 2025 was €10.2M (36% margin), up from €2.4M (35%) year-over-year; Q2 gross profit was €6.0M (38% margin).

  • Operating profit for H1 2025 was €7.5M (27% margin), compared to a €0.9M loss (-12%) in H1 2024.

  • Net assets per share increased to €1.01 from €0.93 a year earlier.

  • Return on equity for H1 2025 was 11.3%, up from -5.7% in H1 2024.

  • Earnings per share for H1 2025 were €0.11, compared to -€0.05 in H1 2024.

Outlook and guidance

  • The Group expects to maintain positive trends, with substantial project completions in Tallinn and Vilnius by year-end and continued strong sales momentum.

  • Market normalization in Italy is anticipated by the end of 2025, supporting further growth.

  • Management remains confident in recovering hotel performance shortfalls by September-October 2025.

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