REG-INTERIM REPORT FOR THE THIRD QUARTER OF 2026 (UNAUDITED)
Key Highlights
- ➤9M revenue EUR 5,316 thousand, down EUR 308 thousand year over year
- ➤9M operating loss EUR 1,441 thousand versus EUR 622 thousand profit
- ➤9M net loss EUR 1,533 thousand versus EUR 214 thousand profit
- ➤Net debt EUR 47,139 thousand, up EUR 12,954 thousand year over year
- ➤Rannakalda development fully sold after final apartment sale post-quarter
- ➤Botanica Lozen signed preliminary agreement to sell 75% ownership interest
Expert Statements
Kert Keskpaik, CEO and Member of the Management Board of Arco Vara AS
“In the third quarter of 2026, Arco Vara AS continued its operations in the real estate development sector.”
Kert Keskpaik, CEO and Member of the Management Board of Arco Vara AS
“The existing business plan did not meet the expectations of the company's Supervisory Board, and the objective is to develop a business plan that meets the Supervisory Board's return on equity expectations.”
Kert Keskpaik, CEO and Member of the Management Board of Arco Vara AS
“Arco Vara's loss in the third quarter is attributable to two development projects being in the construction phase.”
Kert Keskpaik, CEO and Member of the Management Board of Arco Vara AS
“Accordingly, we forecast an increase in revenue and profit in the fourth quarter.”
Kert Keskpaik, CEO and Member of the Management Board of Arco Vara AS
“The aim of these changes is to strengthen shareholders' oversight of the company's management at a time when the Luther Quarter business plan did not meet the Supervisory Board's return on equity expectations.”
Kert Keskpaik, CEO and Member of the Management Board of Arco Vara AS
“Arco Vara AS plans to introduce a change in its corporate culture, with a stronger focus on results, a winning mentality and a capitalist mindset.”
Kert Keskpaik, CEO and Member of the Management Board of Arco Vara AS
“This means that future development projects will be undertaken only if the expected return on equity meets the expectations of the company's shareholders.”
Kert Keskpaik, CEO and Member of the Management Board of Arco Vara AS
“I can confirm that the development projects currently under construction will be completed and handed over to our customers.”
Kert Keskpaik, CEO and Member of the Management Board of Arco Vara AS:
“In the third quarter of 2026, Arco Vara AS continued its operations in the real estate development sector. The objectives for the quarter were to sell apartments and commercial premises held in inventory and to continue pre-sales in the Spordi and Iili developments. Design work and a review of the business plan are currently underway at Luther Quarter.
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