Akropolis Group's 2024 figures: tenant earnings top 1.2 billion Euros, 130+ fresh and refurbished retail outlets unveiled, 44 million+ shoppers, revenue increase recorded within the Group

Akropolis Group's 2024 figures: tenant earnings top 1.2 billion Euros, 130+ fresh and refurbished retail outlets unveiled, 44 million+ shoppers, revenue increase recorded within the Group

2024 Shined Bright for Akropolis Group's Business Ventures

With a sparkling year behind them, Akropolis Group, the go-to name for shopping and entertainment in the Baltics, has been shining brighter than ever. Their five centers in Lithuania and Latvia have been bustling with over 44 million annual visits, a significant increase from the previous year. The group's impressive tenants' turnover surpassed EUR 1.2 billion, marking a significant milestone in their history.

Gabriele Sapon, CEO of Akropolis Group, expressed their commitment to maintaining the centers' allure for both visitors and tenants. In 2024, they focused predominantly on renovations and new shop openings, investing in infrastructure, new partnerships, and sustainable solutions. Despite the rigorous process of change implementation, visitor footfall remained steadfast, while the tenants' turnover saw a moderate growth.

The consolidated rental income of Akropolis Group amounted to EUR 91.4 million, a 9% increase from the previous year, and the Group's earnings before interest, tax, depreciation, and amortization (EBITDA) reached EUR 87.8 million, a 6% rise. All the centers managed by Akropolis Group boasted a very high occupancy rate of shopping and entertainment spaces, with 98.3% of their area rented.

S&P Global Ratings and Fitch Ratings reconfirmed credit ratings BB+ with a stable outlook for Akropolis Group, reflecting the stability of their operations and responsible financial management.

2024 - A Year of Growth and Renovation for Akropolis Group

2024 was an active year of investment and development for Akropolis Group. In Klaipeda, the Klaipeда Akropolis common spaces interior design renovation project, which cost EUR 8 million, was successfully completed. This involved revamping over 11,000 square meters of common spaces, setting up modern childcare rooms, and renovating and expanding sanitary facilities. Tenants also had important changes and renovations, such as Maxima grocery supermarket, the largest in Western Lithuania, and trampoline and entertainment park Jumpland.

In Vilnius, the area of Akropolis was expanded by constructing a new commercial building of 480 square meters that now houses a new-concept expanded Sportland shop, the largest in Lithuania. The shop connects to its old premises.

During 2024, the five Akropolis centers saw the opening of 135 new and revamped shops, service, and entertainment venues, including 90 in Lithuania and 45 in Latvia. These new additions featured international brands like JD Sports, Weekend Max Mara, Sinsay, Timberland, and many more.

"We're thrilled that Akropolis centers are attractive destinations for both new brands entering the Baltic States and established brands favored by our visitors for their latest concepts. Our aim is to strengthen the leading positions of our shopping centers in Lithuania and Latvia, not just by attracting new brands but also by improving the visitor experience and creating added value for both visitors and tenants," comments G. Sapon.

The renovation of common spaces on the Vilnius Akropolis second floor, started in February, is currently underway.

Future plans for Akropolis Group include the development of the multifunctional complex Akropolis Vingis in Vilnius. The Vilnius City Municipality issued a document permitting construction for a multifunctional building, with the approval of the last external traffic infrastructure improvement project and the issuance of a document permitting construction for it pending. Upon receiving this permit, the company will update expense estimates for construction of the multifunctional quarter and the public infrastructure improvement works planned in the neighborhood, revise the investment plan for the project implementation, and select optimal solutions to finance the project.

Sustainability at the Forefront for Akropolis Group

Akropolis Group continued its focus on sustainable activities in 2024. In January 2025, the recertification of Vilnius, Klaipeда, and Siauliai Akropolis according to the international BREEAM In-Use standard was finalized. Now, all the five Akropolis centers managed by the Group have BREEAM certificates at the "Very Good" level.

"We're delighted to have achieved our ambitious goal of having all our shopping and entertainment centers assessed at the 'Very Good' level under the BREEAM standard a year before our target date. This assessment confirms that all the shopping and entertainment centers Akropolis are managed with a minimal impact on the environment. We implement energy-saving measures, effectively manage water consumption, and optimize waste management systems," says G. Sapon.

At the beginning of 2025, Akropolis Group developed a Green Financing Program that received a positive assessment. This program allows for an even closer link between the sustainability objectives of the company and its financial activities, providing an opportunity 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 the company's website.

About Akropolis Group:

The Akropolis Group, a leading shopping and entertainment centers development and management company in the Baltics, operates companies providing shopping centers development and management services in Lithuania and Latvia. In Lithuania, Akropolis Group manages shopping and entertainment centers Akropolis in Vilnius, Klaipeda, and Siauliai, whereas in Latvia, they run AKROPOLE Riga and AKROPOLE ALFA in Riga.

1. Akropolis Group continued its commitment to sustainable solutions in 2024, with all five of its centers, including Klaipeда Akropolis, Vilnius Akropolis, and Siauliai Akropolis, being recertified according to the international BREEAM In-Use standard at the 'Very Good' level.
2. In 2024, Akropolis Group expanded its business ventures by constructing a new commercial building in Vilnius, which houses a new-concept expanded Sportland shop, the largest in Lithuania.
3. The Akropolis Group's shopping centers served as attractive destinations for both new brands entering the Baltic States and established brands in 2024, with the addition of international brands like JD Sports, Weekend Max Mara, Sinsay, Timberland, and more.
4. In addition to shopping and entertainment, Akropolis Group's focus on real-estate development is evident in their plans for the multifunctional complex Akropolis Vingis in Vilnius, with construction permits awaited and investment plans under revision.
5. With a focus on both business and lifestyle, Akropolis Group's Green Financing Program, which received a positive assessment in 2025, links sustainability objectives with financial activities, providing opportunities to finance or refinance projects meeting the sustainability criteria specified in the program using various green financing instruments.

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