Akropolis Group's 2024 outcomes: Tenants' income surpasses €1.2 billion, launch of more than 130 fresh and refurbished stores, over 44 million visitor attendance, revenue expansion for the Group
2024 was a triumphant year for Akropolis Group, with their shopping and entertainment centers in Lithuania and Latvia attracting an impressive 44 million visitors annually. With a staggering EUR 1.2 billion in tenants' turnover and over 130 new and revamped shops, the Group's consolidated EBITDA reached an impressive EUR 87.8 million.
CEO Gabriele Sapon expresses optimism for the future, "We strive to keep Akropolis centers as captivating shopping and entertainment destinations for both visitors and tenants in the long term. In 2024, we focused on renovating and developing our shopping centers, opening new and revamped shops. We consistently invest in upgrading infrastructure, forming new partnerships, and prioritizing sustainable solutions. Despite the intensity of change implementation, the visitor footfall in our shopping centers remained stable in 2024, while the tenants' turnover experienced a moderate growth, surpassing EUR 1.2 billion for the first time in Akropolis Group's history."
Consolidated rental income for Akropolis Group amounted to EUR 91.4 million in 2024, marking a 9% increase from 2023 (EUR 84 million). The Group's earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to EUR 87.8 million, a 6% increase from 2023 (EUR 83.1 million). All Akropolis centers maintained a commendable 98.3% occupancy rate of shopping and entertainment spaces.
Credit ratings BB+ with a stable outlook for Akropolis Group, reconfirmed by S&P Global Ratings and Fitch Ratings in 2024, further testify to the Group's operational stability and financially responsible management.
ACTIVE INVESTMENT AND DEVELOPMENT IN 2024
2024 saw substantial investment and development for Akropolis Group, as the Klaipėda Akropolis common spaces interior design renovation project was completed, amounting to an investment of EUR 8 million. The renovation encompassed over 11,000 sq. m of common spaces, modern childcare rooms, renovated and expanded sanitary facilities, and significant changes and renovations from tenants such as Maxima grocery supermarket and Jumpland trampoline park.
The Vilnius Akropolis expanded by a new commercial building of 480 sq. m, which now houses the largest Sportland shop in Lithuania. In total, the five Akropolis welcomed 135 new and revamped shops, service, and entertainment venues in 2024, including international brands like JD Sports, Weekend Max Mara, Sinsay, Timberland, and many more.
FOCUS ON SUSTAINABILITY
Akropolis Group's focus on sustainable activities continued in 2024, as the Vilnius, Klaipėda, and Šiauliai Akropolis were awarded BREEAM certificates at the "Very Good" level after recertification. Sustainability goals for all Group-managed shopping centers to obtain the "Very Good" assessment by 2026 have been achieved a year ahead of schedule, demonstrating the Group's commitment to minimizing environmental impact through energy-saving measures, optimal water consumption management, and efficient waste management systems.
A Green Financing Program was developed at the beginning of 2025, fostering a closer link between the company's sustainability objectives and financial activities. The program provides opportunities to finance or refinance projects meeting the sustainability criteria specified in the program using various green financing instruments.
The full consolidated financial report of Akropolis Group for 2024 is available on their official website.
ABOUT AKROPOLIS GROUP
Akropolis Group, the leading shopping and entertainment centers development and management company in the Baltics, controls various companies providing shopping center development and management services in Lithuania and Latvia. In Lithuania, Akropolis Group manages shopping and entertainment centers Akropolis in Vilnius, Klaipėda, and Šiauliai, as well as in Latvia - Akropole Riga and Akropole Alfa in Riga.
- Akropolis Group, with its shopping and entertainment centers in Lithuania and Latvia, welcomed over 44 million visitors annually in 2024.
- The Group's consolidated EBITDA reached an impressive EUR 87.8 million in 2024, a 6% increase from the previous year.
- Gabriele Sapon, the CEO of Akropolis Group, expressed optimism for the future, stating that the Group consistently invests in upgrading infrastructure, forming new partnerships, and prioritizing sustainable solutions.
- In 2024, the Group completed an EUR 8 million renovation project for the common spaces in the Klaipėda Akropolis, which included modern childcare rooms, renovated sanitary facilities, and changes from tenants like Maxima grocery supermarket and Jumpland trampoline park.
- The Vilnius Akropolis expanded with a new commercial building of 480 sq.m, housing the largest Sportland shop in Lithuania.
- The Group's focus on sustainable activities resulted in their shopping centers, including Vilnius, Klaipėda, and Šiauliai, being awarded BREEAM certificates at the "Very Good" level.
- Akropolis Group developed a Green Financing Program at the beginning of 2025, aiming to finance or refinance projects meeting sustainability criteria using various green financing instruments.
