Shopping centres controlled by Akropolis Group had over 44 million visitors last year, the tenants’ turnover reached almost EUR 1.2 billion, over 100 new and revamped shops opened, leading to growth of the Group’s revenue

Five shopping and entertainment centres controlled by Akropolis Group in Lithuania and Latvia had over 44 million visitors in 2023, which is 7% more than in 2022. Bigger visitor footfall contributed to the growth of shopping centres tenants’ turnover, which was almost EUR 1.2 billion last year – 7% more than in 2022 (EUR 1.1 billion).

“2023 was the first year when the shopping centres were no longer subject to any COVID-19 related restrictions, which had a positive effect on the performance: Akropolis shopping and entertainment had more visitors and the tenants saw the growth in their business volumes. In the five shopping centres controlled by Akropolis Group, we welcomed more than 44 million visitors last year and the tenants’ turnover reached almost EUR 1.2 billion. The results were positively influenced by renovation of the shopping centres, opening of new brands’ and revamped shops, the number of which was more than 100 last year, as well as the widening of services and entertainment offer based on the visitors’ preferences,” comments Nerijus Maknevičius, the CEO and the Chairman of the Board of Akropolis Group.

The consolidated rental income of the Group increased by 12% in 2023 reaching EUR 84 million (in 2022, EUR 75.1 million), and its earnings before interest, tax, depreciation and amortisation (EBITDA) amounted to EUR 83.1 million – 16% more than in 2022 (EUR 71.9 million). The occupancy rates of the shopping and entertainment centres Akropolis remained high in 2023, with only 2.6% vacancy.

Investments into renovation

In 2023, a major renovation and modernization of the interior of Akropolis Klaipėda was launched. EUR 8 million will be invested in total into more than 10,000 square meters of common spaces. The shopping and entertainment centre in the port city is undergoing the renovation of the interior of common spaces, lighting solutions, sanitary facilities, new rest zones and free children’s play areas will also be installed.

“Vilnius Akropolis is also embracing changes - new construction of a one-storey commercial building next to it has been launched after obtaining a document permitting construction at the end of last year. The new building of 480 m² will house Sportland in its expanded version. Akropolis Group will invest about EUR 1 million into the construction of the building,” says N. Maknevičius.