Hereby attached follows the Company's quarterly report per the 1st quarter of
2022.
 
The company´s Q1 financial result is strong for the first quarter of 2022.
Quarter-on-quarter, our income from property management in Q1 2022 increased to
a level of MNOK 8.7 (MNOK 4.8) and we can report a result pre-tax of MNOK of 5,6
(2,1 Q1 2021).  
 
We have successfully increased our top line as a result of new investments and
delivered development projects during 2021 as well as significantly reduced
interest costs which combined contributed to a strong result for the first
quarter.
During the first quarter, we have focused on potential challenges related to the
Ukraine war and we are experiencing projects are put on hold amid the high
uncertainties including accessibility of and prices for commodities across the
global markets.
 
Despite the uncertainties, we have a superb team, a strong development and
investment pipeline with quality projects, supporting risk diversification and
our continued growth ambitions remains.
 
For more information, please contact:
Lars Christian Berger
CEO
phone: +47 930 94 319
Lcb@balticsea.no

The information in this announcement is subject to disclosure requirements under
the EU Market Abuse Regulation and Euronext Growth listing rules.

Baltic Sea Properties AS is among The Baltics' leading real estate investors and
developers - owning a portfolio of logistics, industrial and retail assets.

Company website: balticsea.no

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