AS Rigas kugu buvetava (RKB1R) Q4 2024 earnings summary

Executive summary

• Ended 2024 with a net profit of EUR 369,891, reversing a loss of EUR 1,029,648 in 2023.

• Net turnover increased by 27% year-over-year to EUR 2,216,930, driven by higher demand for asset use and strengthened partner trust.

• Focus remained on management and leasing of real estate, with ship repair and related services as core activities.

• Total assets decreased to EUR 5,451,253 due to asset disposals and accelerated liability settlements.

Financial highlights

• Net turnover: EUR 2,216,930 in 2024 vs. EUR 1,741,796 in 2023.

• Gross loss: EUR 45,408 in 2024, improved from EUR 822,501 loss in 2023.

• Net profit margin: 16.68% in 2024, up from -59.11% in 2023.

• Equity increased to EUR 1,273,398 from EUR 904,230 year-over-year.

• Total liabilities decreased by 21% to EUR 4,177,855.

Outlook and guidance

• Operating activities expected to expand, improving ability to cover short-term liabilities.

• No significant or extraordinary post-year-end events affecting 2024 results.

• Profit for 2024 proposed to be allocated to cover prior years' losses.