AKROPOLIS GROUP UAB
Akropolis Group, a company engaged in the development and management of shopping and entertainment centers, reported stable visitor numbers across its five locations in Lithuania and Latvia during the first half of 2025, totaling 21 million visitors. The turnover of its tenants reached a record EUR 558.9 million, which reflects a 1.8% increase compared to the same timeframe last year. Gabrielė Sapon, the CEO of Akropolis Group, expressed satisfaction with the significant renovations, successful capital market activities, and the trust displayed by both visitors and tenants. She emphasized the commitment to sustaining this positive trajectory moving forward.
Consistent Growth in Rental Income
In the first half of 2025, Akropolis Group’s consolidated rental income was recorded at EUR 46.3 million, marking a 5.4% increase from the same period in 2024. The vacancy rate for rental spaces remained impressively low at 1.3%, down from 1.9% a year prior. The group’s total revenue reached EUR 63.3 million, reflecting a growth of 4.4% from the previous year, while earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at EUR 44.3 million, up by 3.4% year-on-year.
Expansion and Renovation of Retail Spaces
In the first half of this year, Akropolis Group opened or renovated over 70 shops across its shopping centers, a slight increase from 66 during the same period last year. This growth is indicative of tenant confidence in the centers managed by Akropolis. Each newly opened or refurbished shop, especially those unique to the city, enhances the attractiveness of the centers for visitors. G. Sapon noted the ongoing commitment to ensure that Akropolis centers remain hubs for the latest trends in fashion and technology.
New Retail Offerings in Vilnius
The Vilnius Akropolis welcomed the opening of a New Yorker store and the reopening of a renovated Maxima XXXX. Other shops, including Mango, Pegasas, Xiaomi, and Tiger, also underwent renovations. In the Klaipėda Akropolis, popular stores such as Skechers, Adidas, and Douglas were revamped, while a new Sinsay shop and café Caffeine opened in Šiauliai Akropolis, along with updates to L’Occitane and Pandora.
Exciting Developments in Latvia
Akropole in Latvia also experienced new additions, with Sinsay and Lindex opening their doors in Akropole Riga, alongside renovations for Maxima and Sportland. Akropole Alfa saw its Mango and Douglas stores remodeled during the first half of the year. The second half promises to be equally eventful, with the opening of new restaurants and entertainment options, including KFC and a family amusement park in Vilnius Akropolis.
Investments Focused on Sustainability
In the first half of the year, Akropolis Group successfully launched a EUR 350 million green bond issue with a 6% annual interest rate. The raised funds are intended for refinancing a previous bond and financing sustainability projects, including green building initiatives. These bonds are listed on Euronext Dublin and Nasdaq Vilnius and saw strong interest from over 90 investors. Significant renovations of common areas in Vilnius Akropolis, costing around EUR 800,000, were also completed, enhancing the visitor experience.
High Standards for Sustainability
The Akropolis Vingis project received the final construction permit for improvements to transport infrastructure, while a new building at Klaipėda Akropolis is set to commence construction this year. Earlier this year, shopping centers managed by Akropolis Group in various locations achieved a “Very Good” rating under the international BREEAM In-Use sustainability standard, with similar assessments granted to their centers in Riga. G. Sapon noted that this achievement came a year ahead of their 2026 target.
Positive Ratings and ESG Compliance
Fitch Ratings has reaffirmed Akropolis Group’s long-term borrowing rating at BB+ with a stable outlook for the fifth consecutive year. Furthermore, the company received a score of 2 out of 5 from Sustainable Fitch in its first sustainability report, indicating strong adherence to ESG standards.
