MP 31 OÜ
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MP 31 OÜ hetkeolukord
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's activity report 2022
The main activity of MP 31 OÜ is real estate development.
The company owns a property in Tallinn at Mäepealse tn 31. As part of the Nõmmesalu Kodu development, a 6-storey residential and commercial building with 86 apartment ownerships is being built on the property. Construction of the apartment building began in the fall of 2021 and will be completed in the second quarter of 2023.
The development is financed by the owners OÜ Oma Grupp and Investment Maintenance OÜ (both partners have a 50% stake), in addition, LHV Bank was involved in financing the construction in 2022.
The war started by Russia in Ukraine at the beginning of 2022 has led to a new geopolitical situation, the economic and social impacts of which are extensive and long-term. In the situation that has arisen, there were several disruptions in the market during the reporting year, which affected the input prices of construction as well as the selling price of real estate. The inflation that accelerated in the second half of 2022 and the sharp rise in Euribor have created uncertainty among buyers in the real estate market, as a result of which the sales periods of apartments are also extending. The company tries to find different solutions in a difficult period with flexibility and quick response to situations in order to minimize the financial impact on the project.
No salary has been paid in 2022, the services necessary for sales and other activities have been purchased.
The equity of MP 31 OÜ as of 31.12.2022 is negative in the amount of 463 098 euros. This fact is due to the situation where the sales revenue of apartment ownerships is recorded at the moment when the ownership of the apartment has been transferred from the seller to the buyer, but the costs arise throughout the development period.
The revenue from sales is recorded in 2023, when real estate contracts are concluded, the company's equity is restored and will subsequently comply with the requirements of the Commercial Code.
Main financial ratios of MP 31 OÜ: 2022 2021
Gross profit margin (%) -216.7 -
Net profit margin (%) -1279.5 -
Short-term liabilities coverage ratio 0.95 3.59
Formulas used in calculating ratios:
Gross profit margin (%) = operating profit (-loss) / sales revenue * 100
Net profit margin (%) = net profit (-loss) / sales revenue * 100
Short-term liabilities coverage ratio = current assets / short-term liabilities
MP 31 OÜ contacts
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