Why Hepsor?

A well-capitalised listed company

In almost 15 years, Hepsor has grown from a residential property developer focused on the Estonian market to a modern listed company operating as a residential and commercial property developer in Estonia, Latvia, and Canada. The company has been listed on the Nasdaq Baltic Main List since 2011 and regularly publishes financial statements in accordance with IFRS standards.

2011

Hepsor is founded

2017

expansion to Latvia

2021

listed on the Nasdaq Baltic Main List

2023

expansion to Canada

2025

launch of the bond programme

Well-capitalised

Hepsor has a solid capital base: adjusted equity of €37.6 million and an adjusted equity-to-assets ratio of 46.6% ensure robust financial stability and protect the company against risks associated with both the market and individual projects.

Balanced debt

The company keeps its debt under control. A debt ratio of 55.7% shows a balanced leverage that allows for sustainable growth while maintaining a sufficient buffer to hedge risks and protect investors’ interests.

Stable
cash flow

Financial security is based on 30 active development projects in three countries. A diverse portfolio ensures a stable and predictable cash flow to support day-to-day operations, new projects and timely debt service.

35.4 MEUR

consolidated
turnover
in 2025

1.0 MEUR

consolidated net profit in 2025

479 MEUR

potential return on development portfolio

91.8 MEUR

total
assets 31.12.25

Diverse investment

The capital raised will not be channelled towards the implementation of a specific project or for funding a specific market. The bond offers the opportunity to contribute to a diverse development portfolio that includes existing and new projects in domestic markets in Estonia and Latvia as well as in Canada. For investors, this translates into geographic and project-based diversification of risk, ensuring a more stable and balanced risk profile for their investments and the potential to benefit from growth in different markets.