“Eften Domina” SIA, the manager of the “Domina Shopping” shopping center, worked last year with a turnover of 12.797 million euros, which is 42.8% more than the year before, while the company’s profit increased by 97.3% – up to 3.011 million euros, according to ” Firmas.lv” published data.
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The management report of the annual report explains that the increase in turnover in 2022 is related to the discounts granted to tenants in 2021 in connection with the emergency situation that was declared in the country in connection with Covid-19.
Of all the revenues of “Eften Domina” last year, 62.8% were revenues from renting premises, and 16.2% were fixed revenues from the maintenance and management of the center.
In addition, “Eften Domina” last year received support from the Latvian Investment and Development Agency (LIAA) for businessmen affected by the Covid-19 crisis to compensate for the decrease in the rental turnover of the shopping centers they own in the amount of 555,652 euros, as well as state support for compensation of the decrease in the flow of working capital in the amount of 21,325 euros.
The management report also mentions that capital investments in the amount of 440,600 euros were made last year in the improvement of “Domina Shopping”, in the repair of communications, as well as in other repairs, which positively affect the value of the object.
The management report also states that according to the assessment made by SIA “Colliers International Advisors” in December 2022, the real value of “Eften Domina” real estate was 94.12 million euros.
This year, the company plans to continue improving the composition of tenants, attracting several new and strong fashion brand stores, as well as expanding the range of services with the aim of creating a full-concept shopping center.
In 2021, “Eften Domina” worked with a turnover of 8.959 million euros and a profit of 1.526 million euros.
“Eften Domina” was registered in 2016, and its share capital is 5,000 euros. The sole owner of the company is “Eften Kinnisvarafond II”, registered in Estonia.
