SUTNTIB AB Tewox audited consolidated and separate annual financial statements for 2024
Vilnius, Lithuania, April 29, 2025 (GLOBE NEWSWIRE) —
AB Tewox (the Company) publishes its audited annual consolidated and separate financial statements for 2024 together with Company’s and Group’s annual management report for 2024.
Financial results
The objective of the Company is to earn a return to shareholders through investments in individual income-generating real estate objects – either under development or already developed – intended for retail or other (commercial and/or residential) purposes in the Baltic Sea Region countries – Lithuania, Latvia, Estonia, Finland, Sweden, Denmark, Poland and Germany. The main financial indicators for the period were:
- As at 31 December 2024, the Company’s total assets were EUR 75,648 thousand, total equity was EUR 43,448 thousand, and total liabilities were EUR 32,200 thousand.
- As at 31 December 2024, the Company’s investment assets at fair value through profit or loss were EUR 69,908 thousand, which compared to 31 December 2023, grew by EUR 4,029 thousand (or 6.21 %).
- From January to December 2024, The Company earned EUR 3.344 thousand in total comprehensive income.
Key events of 2024:
- In 2024, the Company, through its managed subsidiaries, acquired investment property with a total acquisition value of approximately EUR 23.9 million:
- Commercial building, located at 83 Dariaus ir Girėno g., Jurbarkas, Lietuva;
- Commercial building, located at 2 Chrobrego, Radom, Lenkija;
- Commercial building, located at 211 Zgierska, Łódź, Lenkija;
- Land plot, located at 46 Artojų g., Kaunas, Lietuva.
- In 2024 the Company issued private bonds with nominal value of EUR 9.974 million and redeemed private bonds with a nominal value of EUR 26.570 million.
- On 13 August 2024, the Group’s prospectus for a public bond offering of EUR 35 million was approved. During 2024, the Company issued bonds with a nominal value of EUR 23.774 million.
Key events after the end of the financial year:
- On January 19, 2025, the third tranche of the public bond issuance was completed, during which the Company issued bonds with a total nominal value of EUR 11.226 million.
- At the end of January 2025, the Company executed an early redemption of bonds in accordance with applicable early redemption terms, redeeming private bonds with a nominal value of EUR 7.474 million.
- In March 2025, the Company, through its subsidiary, has completed a transaction for the acquisition of two Lidl store buildings in Panevėžys and Jurbarkas, for which it received EUR 6.7 million in financing from a credit institution.
Shareholder’s meeting
According to the Law on Companies of Republic of Lithuania, the annual financial statements prepared by the Management are authorised by the General Shareholders’ meeting. The shareholders hold the power not to approve the annual financial statements and the right to request new financial statements to be prepared.
The shareholders of the Company will vote on approving the Group’s and Company’s 2024 financial statements at a shareholders’ meeting to be held on 30 April 2025. The meeting will also consider a proposal for the distribution of profits, it is proposed to allocate profits as follows:
| Article | Amount, EUR |
| Retained earnings (loss) – at the beginning of financial year | (4,339,664) |
| Change in accounting policy | 2,979,859 |
| Retained earnings (loss) – at the beginning of financial year after the change in accounting policy | (1,360,105) |
| Comprehensive income (loss) for the reporting period – net profit for the current year | 3,344,405 |
| Interim dividends paid in 2024 | (400,000) |
| Profit transfer to the legal reserve | – |
| Retained earnings (loss) – at the end of financial year | 1,584,300 |
| Profit distribution: | |
| Profit transfer to the legal reserve | (167,220) |
| Profit transfer to other reserves | – |
| Profit to be paid as dividends | (1,274,534) |
| Retained earnings (loss) at the end of the financial year for 2024 and previous financial periods | 142,546 |
Additional agenda items of the shareholders’ meeting – the amendment of the Company’s Articles of Association, the establishment of the Audit Committee, the and approval of its guidelines.
Contact person for further information:
Paulius Nevinskas
Manager of the Investment Company
https://lordslb.lt/tewox_bonds/
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