Baltic Real Estate: Pro Kapital's 2025 Results Soar — Implications for PREATONI Group
On Monday, PREATONI Group announced the unaudited provisional annual results for 2025 of its subsidiary AS Pro Kapital Grupp, which specializes in residential and commercial real estate development in the Baltic countries.
At the end of the fiscal year on December 31, 2025, Pro Kapital recorded a revenue of 53.2 million euros, up from 18.2 million euros in 2024. The gross margin stood at 18.8 million euros in 2025 compared to 5.4 million euros in 2024, with the margin rate increasing to 35% from 30% the previous year. Operating income reached 14.7 million euros in 2025, up from 0.1 million euros in 2024. The net result was a positive 12 million euros. These results mainly reflect the delivery of apartments from the Kalaranna and Uus-Kindrali projects in Tallinn and the City Villas in Vilnius.
In Estonia, the construction of the White Building in the Uus-Kindrali project at Kristiine City in Tallinn was completed in the fourth quarter of 2025. Work continued on a second seven-story residential building comprising 90 apartments. Studies for obtaining building permits for four additional projects in Kristiine City are ongoing. In Latvia, construction continued on the Blue Marine project in Riga within the Kliversala district. In Lithuania, the construction of the final phase of Šaltini? Namai Attico including City Villas and a commercial building is nearing completion in the fourth quarter. Pro Kapital Grupp also obtained a building permit for its project to rehabilitate an old school building into a high-end residential complex comprising about 50 apartments. Cash flows from operating activities amounted to 10.8 million euros in 2025, up from a negative 10.4 million euros in 2024.
