Pillar Capital, AS Performance in H1 2022

According to the operative financial performance of Pillar Capital, AS (the Company), in the first six months of 2022 the Company’s profit before taxes amounted to 459 thousand euros.

The revenue of all Pillar Group companies, i.e., the Group, in comparison with the same period in 2021, has grown by 16%, reaching 11.66 million euros. The Group’s losses before taxes amounted to 1.92 million euros. The Group’s and Company’s performance complies with the management’s estimates.

Group’s key financial performance indicators in H1 2022:

• modified EBITDA* as on 30 June 2022 was negative and amounted to EUR 835 thousand (*earnings before interest, taxes, depreciation and amortisation, investment property revaluation results);
• cash flow from operating activity was positive and amounted to EUR 4.45 million;
• gross assets amounted to EUR 155.01 million.

Pillar Capital, AS is a company founded in 2006. The objectives of its operation include investing own and third party funds in commercial and residential real estate objects to achieve sustainable increase in income from renting the premises and enlarging of the value of properties.