Akropolis Group, a real estate development and management company, has signed a seven-year credit agreement worth EUR 130 million with Swedbank. The majority of the financing will be used to refinance a previous five-year loan granted in 2022 to Ozo Turtas, the Group company that operates Akropolis Vilnius.
“Financial stability begins with the decisions we make today with tomorrow in mind. We secured this new seven-year financing agreement with Swedbank a full year before the maturity of our previous loan. This reduces uncertainty and forms part of our consistent financial strategy, enabling us to plan long-term investments with confidence, implement development projects and further strengthen Akropolis Group’s position in the Baltic States. Our partnership with Swedbank, spanning a quarter of a century, is more than a financial relationship. It is a testament to long-standing trust. I am delighted that we have worked together from the construction of the first Akropolis shopping centre in Vilnius to the present day, and that this partnership continues,” says Gabrielė Sapon, CEO of Akropolis Group.
According to Ignas Mačeika, Head of Corporate Banking at Swedbank Lithuania, growing consumer spending in physical stores demonstrates the potential of the shopping centre market. Swedbank data shows that such spending has increased by 13% in Lithuania, 6% in Latvia and 4% in Estonia this year.
“Akropolis Group holds a leading position in the Baltic States, underpinned by strong operating results, a solid credit rating and a highly professional team. Over the course of our 25-year partnership, we have come to appreciate the Group’s strategic approach and its ability to deliver on ambitious development plans. Swedbank’s total financing to Group companies, amounting to approximately EUR 240 million, reflects both the scale of Akropolis Group’s business and our confidence in its continued growth,” says Mačeika.
At the end of last year, international credit rating agency S&P Global Ratings affirmed Akropolis Group’s BB+ long-term issuer credit rating with a stable outlook. This year, Fitch Ratings also reaffirmed the Group’s BB+ credit rating with a stable outlook for the sixth consecutive year.
“Our growth strategy is built on two key pillars: consistently increasing the value of our existing assets and developing new projects. Our five shopping and entertainment centres in Lithuania and Latvia remain a strong foundation for our business, and we continue to invest in their modernisation and competitiveness. At the same time, we are expanding our activities in the residential and commercial real estate segments through Galio Group. Our ambition is not only to grow the scale of our business, but also to create lasting value,” says Sapon.
Akropolis Group’s consolidated revenue reached EUR 81.6 million in the first half of this year, representing a 29% increase compared with the same period last year. Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 28% to EUR 56.6 million, while net profit increased by 21% to EUR 37 million. The Group’s consolidated financial results have included the performance of Galio Group, the real estate development company acquired last year, since October 2025.
About Akropolis Group
Akropolis Group, a leading real estate development and management company in the Baltic States, operates companies providing shopping centre development and management services in Lithuania and Latvia, as well as Galio Group, a residential and commercial real estate development and management company. In Lithuania, Akropolis Group operates Akropolis shopping and entertainment centres in Vilnius, Klaipėda and Šiauliai. In Latvia, the Group operates Akropole Riga and Akropole Alfa, both located in Riga.
For more information:
Paulius Pocius
Head of Marketing and Communications
AKROPOLIS GROUP, UAB
+370 699 99566
paulius.pocius@akropolis.lt
