UPP Olaines OÜ consolidated unaudited financial results for Q4 and 12 months of 2020

Written by Customer Service on . Posted in Public Companies.

Management commentary for the 12 months of 2020Net rental income was 2 637 007 euros for the 12 months of 2020 (2019 12 months: 2 589 379). Operating profit was 2 482 439 euros for the 12 months of 2020 (2019 12 months: 2 649 256). Net income was 1 370 964 euros for the 12 months of 2020 (2019 6 months: 1 399 103).The company’s sole business activity is to collect rental revenue, manage the Olaine property and service its liabilities to lenders and investors. Liabilities include the subordinated bonds with a fixed interest rate and the investment loan which’ rate is also fixed with an interest rate swap agreement. On the revenue side the company earns stable triple-net rental income from reputable tenants, which is fixed with medium-term agreements but is subject to indexation. Due to the economically fixed nature of the company, there needs to be major event in the overall economy or in the company’s business activities for them to have significant effect on the company’s financial results.
Key indicators of financial performance and position for 12 months 2020


Management board and supervisory boardThe management board of UPP Olaines OÜ has one member: Marko Tali, Chairman of the Management Board. The supervisory board of UPP Olaines OÜ has three members: Mart Tooming, Tarmo Rooteman, Hallar Loogma.No remuneration or other benefits are provided to the members of the management board and the supervisory board.Other than the management board and the supervisory board, the Company has no employees.In 2020 UPP Olaines OÜ formed an audit committee, which has three members.
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTSCondensed consolidated interim statement of comprehensive income
Condensed consolidated interim statement of financial positionSiim SildDirector+372 5626 0107siim.sild@unitedpartners.eeAttachmentOlaines Q4 report 2020 ENG

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