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SOLARIS KESKUS AS

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SOLARIS KESKUS AS hetkeolukord

Already 3,814 people have seen this company's branding and they are being followed by 191 Storybook user.In average the company has been rated 5.0 points ja kommenteeritud 3 korda.

's activity report 2022

Solaris Keskus AS's activity is the development of an entertainment and leisure center located at Estonia pst.9 in Tallinn, and the leasing out of the rental spaces located therein.

The tenants of the center include a concert hall, cinemas, a sports club, several cafes and restaurants, a car park, a supermarket, offices and various shops.

In addition to the concert hall, where performances by well-known artists from home and abroad take place constantly, and the cinemas, which are continuously popular among both small and large film lovers, our tenants also include one of the largest sports club chains in Estonia, MyFitness. Such a combination of different tenants makes Solaris the most diverse center in Estonia so far.

As of 31.12.2022, a 36,000 m2 area was available for rent in Solaris Center.

We continue to invest in marketing activities to support tenants, organize various cultural events in the center, carry out many interesting events and support cultural festivals. All these activities in turn bring us a larger customer flow and both tenants and the wider public benefit from these activities.

In the summer of 2022, the rooftop terrace of the restaurant Komeet located in the center was renovated.

In 2022 and 2021, no fees were paid to the board and management of Solaris Keskus AS. The average number of employees in 2022 and 2021 was five, labor costs in the respective years were 253,217 and 278,363 euros.

In 2021, the global spread of the coronavirus (Covid-19) and the movement and occupancy restrictions imposed by the Government had a strong impact on the cash flows of the center's tenants and thereby reduced the center's sales revenue and property value in the form of rent concessions. In 2022, after the restrictions were lifted, the center's attendance and tenants' cash flows recovered to pre-covid results.

As of 31.12.2022, short-term liabilities exceed current assets and the company's equity is negative, which is mainly due to a non-cash accounting entry, which is a change in the fair value of a real estate investment. If necessary, the parent company is ready to make additional equity contributions. The parent company has issued a confirmation letter stating that it will continue to finance the company as needed, which will enable the company to pay third-party obligations on time. As a result, in the management's opinion, there is no uncertainty about the continuity of the company's operations.

2022 2021

ROA net profit/assets -6.64% -4.22%

ROE net profit/equity 166.91% -164.94%

Short-term liabilities current assets/short-term 0.88 1.12 coverage ratio liabilities

Jaanus-Janek Juss

Board member

SOLARIS KESKUS AS contacts

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