{"id":12350,"date":"2026-07-02T17:05:11","date_gmt":"2026-07-02T14:05:11","guid":{"rendered":"https:\/\/hepsor.ee\/?page_id=12350"},"modified":"2026-07-02T17:06:02","modified_gmt":"2026-07-02T14:06:02","slug":"why-hepsor","status":"publish","type":"page","link":"https:\/\/hepsor.ee\/en\/for-investors\/bonds\/why-hepsor\/","title":{"rendered":"Why Hepsor?"},"content":{"rendered":"\n

Why Hepsor?<\/h1>\n\n\n
\n
\n

A well-capitalised listed company<\/h2>\n \n
\n

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.<\/p>\n <\/div>\n \n

\n
\n
\n 2011 <\/div>\n
\n Hepsor is founded <\/div>\n <\/div>\n\n
\n \n \n \n <\/svg>\n <\/div>\n
\n
\n 2017 <\/div>\n
\n expansion to Latvia <\/div>\n <\/div>\n\n
\n \n \n \n <\/svg>\n <\/div>\n
\n
\n 2021 <\/div>\n
\n listed on the Nasdaq Baltic Main List <\/div>\n <\/div>\n\n
\n \n \n \n <\/svg>\n <\/div>\n
\n
\n 2023 <\/div>\n
\n expansion to Canada <\/div>\n <\/div>\n\n
\n \n \n \n <\/svg>\n <\/div>\n
\n
\n 2025 <\/div>\n
\n launch of the bond programme <\/div>\n <\/div>\n\n <\/div>\n \n
\n
\n
\n \"\"\n <\/div>\n
\n

Well-capitalised<\/h2>\n

Hepsor has a solid capital base: adjusted equity of \u20ac37.6 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.<\/p>\n <\/div>\n <\/div>\n

\n
\n \"\"\n <\/div>\n
\n

Balanced debt<\/h2>\n

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\u2019 interests.<\/p>\n <\/div>\n <\/div>\n

\n
\n \"\"\n <\/div>\n
\n

Stable
\ncash flow<\/h2>\n

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.<\/p>\n <\/div>\n <\/div>\n <\/div>\n \n

\n
\n
\n 35.4 MEUR <\/div>\n
\n

consolidated <\/br>turnover <\/br>in 2025<\/p>\n <\/div>\n <\/div>\n

\n
\n 1.0 MEUR <\/div>\n
\n

consolidated net profit in 2025<\/p>\n <\/div>\n <\/div>\n

\n
\n 479 MEUR <\/div>\n
\n

potential return on development portfolio<\/p>\n <\/div>\n <\/div>\n

\n
\n 91.8 MEUR <\/div>\n
\n

total <\/br>assets 31.12.25<\/p>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n

\n
\n

Diverse investment<\/h2>\n \n
\n

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.<\/p>\n <\/div>\n \n

\n
\n

Geographical diversification<\/h3>\n\n
\n
\n
\n \"\"\n <\/div>\n
\n 15 <\/div>\n
\n projects in Estonia <\/br>(80 000 m\u00b2) <\/div>\n <\/div>\n
\n
\n \"\"\n <\/div>\n
\n 10 <\/div>\n
\n projects in Latvia <\/br>(98 000 m\u00b2) <\/div>\n <\/div>\n
\n
\n \"\"\n <\/div>\n
\n 5 <\/div>\n
\n projects in Canada <\/br>(245\u00a0000 m\u00b2) <\/div>\n <\/div>\n <\/div>\n <\/div>\n
\n

Portfolio diversification<\/h3>\n\n
\n
\n
\n \"\"\n <\/div>\n
\n 178\u00a0000 m\u00b2 <\/div>\n
\n Total development volume <\/br>in home markets <\/div>\n <\/div>\n
\n
\n \"\"\n <\/div>\n
\n 95\u00a0000 m\u00b2 <\/div>\n
\n Residential developments <\/br>portfolio <\/div>\n <\/div>\n
\n
\n \"\"\n <\/div>\n
\n 83\u00a0000 m\u00b2 <\/div>\n
\n Business premises <\/br>development portfolio <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n \n
\n

Selected Hepsor projects<\/h3>\n \n
\n \n \n
\n \"\"\n <\/div>\n \n

Manufaktuuri Quarter<\/h4>\n \n
\n Estonia <\/div>\n \n <\/a>\n \n \n
\n \"\"\n <\/div>\n \n

Paev\u00e4lja Quarter<\/h4>\n \n
\n Estonia <\/div>\n \n <\/a>\n \n \n
\n \"\"\n <\/div>\n \n

P113 Tervisemaja (health centre)<\/h4>\n \n
\n Estonia <\/div>\n \n <\/a>\n
\n \n
\n \"\"\n <\/div>\n \n

Nameja Rezidence<\/h4>\n \n
\n Latvia <\/div>\n \n <\/div>\n \n \n
\n \"\"\n <\/div>\n \n

Veidama Quarter<\/h4>\n \n
\n Latvia <\/div>\n \n <\/a>\n \n \n
\n \"\"\n <\/div>\n \n

360\u00b0 Dzelzavas Residences<\/h4>\n \n
\n Latvia <\/div>\n \n <\/a>\n
\n \n
\n \"\"\n <\/div>\n \n

Isabella<\/h4>\n \n
\n Canada <\/div>\n \n <\/div>\n
\n \n
\n \"\"\n <\/div>\n \n

Weston<\/h4>\n \n
\n Canada <\/div>\n \n <\/div>\n
\n \n
\n \"\"\n <\/div>\n \n

High Park<\/h4>\n \n
\n Canada <\/div>\n \n <\/div>\n <\/div>\n <\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"Why Hepsor?","protected":false},"author":1,"featured_media":0,"parent":11267,"menu_order":12,"comment_status":"closed","ping_status":"closed","template":"page-templates\/template-default-sidebar.php","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-12350","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"\nWhy Hepsor? - Hepsor<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hepsor.ee\/en\/for-investors\/bonds\/why-hepsor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Hepsor? - Hepsor\" \/>\n<meta property=\"og:description\" content=\"Why Hepsor?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/hepsor.ee\/en\/for-investors\/bonds\/why-hepsor\/\" \/>\n<meta property=\"og:site_name\" content=\"Hepsor\" \/>\n<meta property=\"article:modified_time\" content=\"2026-07-02T14:06:02+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/hepsor.ee\\\/en\\\/for-investors\\\/bonds\\\/why-hepsor\\\/\",\"url\":\"https:\\\/\\\/hepsor.ee\\\/en\\\/for-investors\\\/bonds\\\/why-hepsor\\\/\",\"name\":\"Why Hepsor? 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