Quarterly (Q1) 2024 report – Baltic Sea Properties (BALT)

15 May 2024 08:55 CEST

We are pleased to present our Q1 2024 report, marking another period of revenue
growth and sustained cash flow development despite a challenging real estate
market and rising financing costs. Our EBITDA grew to MNOK 17.5 compared to MNOK
16.4 first quarter last year, although income from property management (IFPM)
decreased, largely due to increased financing costs. Notably, our Net Asset
Value (NAV) has strengthened by 1.84% (5.85% in NOK) since the end of last year,
reflecting a robust operational strategy and resilience in our long-term
investments.

For more detailed insights into our financial performance and strategic
initiatives, please review the attached Q1 2024 quarterly report.

For further information, please contact:

Lars Christian Berger,
CEO
Phone: +47 930 94 319
Email: Lcb@balticsea.no

The information in this announcement is subject to disclosure requirements under
the EU Market Abuse Regulation (MAR) and listing rules for Euronext Growth Oslo.

Baltic Sea Properties AS ("BALT" or "the Company", and together with the
Company's subsidiaries, "BSP") stands as a dedicated entity in real estate
investment, with a portfolio that spans logistics, industrial, and commercial
segments, fostering a diversified and sustainable revenue stream.

More information:
Access the news on Oslo Bors NewsWeb site

618749_2024-05-15 Quarterly report Q1-2024 - BSP - published.pdf