Arco Vara AS Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 27, 2023 at 04:00 am EDT
Share
Arco Vara AS reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was EUR 0.254 million compared to EUR 7.63 million a year ago. Net loss was EUR 0.347 million compared to net income of EUR 0.934 million a year ago. Basic loss per share from continuing operations was EUR 0.03 compared to basic earnings per share from continuing operations of EUR 0.09 a year ago. Diluted loss per share from continuing operations was EUR 0.03 compared to diluted earnings per share from continuing operations of EUR 0.09 a year ago.
For the six months, revenue was EUR 0.507 million compared to EUR 7.94 million a year ago. Net loss was EUR 0.638 million compared to net income of EUR 0.95 million a year ago. Basic loss per share from continuing operations was EUR 0.06 compared to basic earnings per share from continuing operations of EUR 0.09 a year ago. Diluted loss per share from continuing operations was EUR 0.06 compared to diluted earnings per share from continuing operations of EUR 0.09 a year ago.
Arco Vara AS is an Estonia-based company active within the property industry. The Company focuses on the building construction, civil engineering, special engineering and real estate services. Its business consists of three segments: Development segment, which is engaged in the development of residential and commercial environments, as well as long-term investment in real estate; Service segment, which is involved in the real estate brokerage, valuation and management, and short-term investment in real estate, and Construction segment, which provides general and sub-contracting in the field of general construction, civil and environmental engineering, and construction supervision services. Arco Vara AS has numerous subsidiaries, including Arco Lozen EOOD, Acro Invest EOOD, and Acro Real Estate SIA. The Company operates in Estonia, Latvia and Bulgaria.
ARCO VARA 
