Audited annual report 2013

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| Source: Pro Kapital Grupp
multilang-release

AS Pro Kapital Grupp Council has on 10.04.2014 approved the audited annual report for the financial year 2013.

Company’s audited and consolidated revenue for financial year 2013 amounted to 12,287 million euro, compared to the 2012 revenue of 16,078 million euro. Revenue decreased by 23,6%. Company’s audited net loss amounted to 2,600 million euro, compared to 2012 loss of 6,182 million euro. Loss decreased by 57,9%. Management Board suggestion is to cover the loss of financial year 2013 with retained earnings of previous periods.

Loss for the financial year 2013 was caused mainly due to the intensive preparation of new developmental projects and lack of stock available for sale, the loss was in line with Company’s expectations.

For the Company 2013 was the year of preparations to start with new development projects. Construction works of new residential building in Lithuania Vilnius, at Saltiniu Namai residential building complex, which is being developed by Pro Kapital and of new residential building in Estonia Tallinn, at Tondi Residential Quarter started in I quarter of 2014.  Presales of both buildings have been positive. Prior to start with the construction works 74% of the units of the Vilnius new residential building have been sold to the buyers. Prior to start with the construction works 29% of all apartments of Tondi Residential Quarter new building have found a buyer.

The consolidated and audited annual report of AS Pro Kapital Grupp for financial year 2013 is also available at the office of the Company located at Põhja pst 21 Tallinn and also on the company's webpage www.prokapital.com.

         Ervin Nurmela
         AS Pro Kapital Grupp
         Phone: + 372 6144920
         Email: ervin@prokapital.ee