AS Pro Kapital Grupp is reorganising its maintenance service business in Estonia

AS Pro Kapital Grupp (hereinafter Pro Kapital) has decided to reorganise its subsidiary Pro Halduse OÜ (registration code 10236910) and reduce its maintenance service business in Estonia. The goal of the maintenance services has been and also will be in the future, to provide good quality maintenance service to the buyers of the apartments and to get feedback of any maintenance issues, to be able to use such information for improvements in future Pro Kapital developments. Providing maintenance services to other properties under maintenance has not been the part of the core strategy of the group nor has it provided any significant profit for the group. Therefor it has been decided that Pro Kapital will concentrate on providing maintenance services only to the properties developed by Pro Kapital in recent years and to be developed in the future, all maintenance services to other properties will be terminated in the next few months.  

AS Pro Kapital Grupp CEO Paolo Michelozzi’s comment: "The goal is to reduce the maintenance service business which has not been a core business for the group. Our goal is to concentrate on our core business – the development of residential and commercial real-estate in the market which has positive trends and provide services connected to the core business of the group. Reducing the number of properties under maintenance will enable the maintenance team to give more attention to the maintenance of the newly developed properties”.

The influence of the reorganisation of the maintenance service business in Estonia for the group is as follows: based on 2017 financial results the group revenue will decrease by 1,35 MEUR and gross profit by 0,155 MEUR. The reorganization does not have material effect on the profitability of the group.

Allan Remmelkoor
Member of the Management Board
+372 614 4920
prokapital@prokapital.ee