Latest news with #BlueMarine
Scotsman
2 days ago
- Entertainment
- Scotsman
White Lotus star Theo James and national treasure Stephen Fry star in grotesque new film exposing the UK's dirty fishing secret
The film, directed by twice-BAFTA nominated director Ben Mallaby, delivers a shocking ending, as a mass of stomach churning fish bycatch crashes down onto immaculately suave Theo and his table mid-meal; exposing the brutal truth about one of the most destructive and overlooked fishing practices taking place in British marine reserves. Despite their designation, most UK marine protected areas (MPAs) still allow bottom trawling; the industrial practice of dragging weighted nets across the seabed, decimating habitats and indiscriminately catching and killing countless 'non-target' marine species in the process. Research by Blue Marine shows that 74% of England's inshore MPAs and 92% in Scotland still permit this practice, including in fragile habitats such as seagrass meadows. With the United Nations Ocean Conference underway, Blue Marine Foundation ( Only One and Oceana UK are calling on the UK Government to impose an immediate ban on bottom trawling in all UK marine protected areas. Take part in the e-action here: In the film, Theo James plays a diner at a smart restaurant who orders a seemingly sustainable fish course. But his evening takes a horrifying turn when an enormous net of rotting bycatch and oil is dumped on him and his table as the 'extras' to his 'sustainable' plaice. Fry plays a comedic, shadowy waiter, delivering the harsh reality of the seafood industry; reminding Theo that what we don't see on the menu is often the most devastating to marine environments. 'This shockingly destructive practice continues even in the UK's protected areas,' said Stephen Fry.'I witnessed the waste firsthand and was absolutely appalled. It is morally corrupt to allow what should be thriving ecological wildernesses to be reduced to shells of destruction. Bottom trawling in marine protected areas must be banned now.' Theo James added, 'As a keen diver I've long been captivated by the ocean and been horrified by the impact humans are having on it. Having had a load of bycatch dumped on me, it really drove home just how grotesque and devastating the practice of bottom trawling is. It was deeply unsettling but I was glad to do it if it helps drive real change.' Jo Coumbe, Communications Director at Blue Marine Foundation, said'Making this film was an eye-opener, even for the seasoned conservationists. When we first saw the bycatch it was just devastating to see - almost unbelievably so. Baby sharks, rays, cuttlefish, angler fish - nothing gets away. The bycatch sourced to create this film was made up of 27 different species, including five species of shark or ray and numerous juveniles. Nothing is safe from the nets of a trawler.' HOW THE PUBLIC CAN HELP: Supporters can visit HERE ( to send a direct message to Environment Secretary Steve Reed MP urging him to take action. The film was co-produced between Blue Marine Foundation and Atomized Studios and all bycatch was authentic and legally sourced. It was responsibly disposed of through Billingsgate Market's regulated waste system. Blue Marine Foundation acknowledges sensitivities but defends the hard-hitting imagery as essential to confronting the true impact of industrial fishing. 1 . Contributed Theo James & Stephen Fry in 'The Bottom Line' Photo: Submitted Photo Sales 2 . Contributed Theo James & Stephen Fry in 'The Bottom Line' Photo: Submitted Photo Sales Related topics: Stephen Fry
Yahoo
23-05-2025
- Business
- Yahoo
Pro Kapital Council approved Consolidated Interim Report for I Quarter and 3 Months of 2025 (Unaudited)
MANAGEMENT REPORT Real Estate Development Tallinn During the first quarter of 2025, construction of the final phase of the Kalaranna development (4 buildings, 146 units) reached substantial completion, although some minor finishing works continued into the second quarter. As of the publication of this report, 68 sold apartments have been handed over to buyers, and the overall sales rate has reached nearly 60%. In Kristiine City, we are actively engaged in the design and building permit application process for four different projects submitted to the Tallinn City Planning Department: - "Dunte" - awaiting the issuance of the building permit.- Sammu 2/4 / Sõjakooli 15 - building permit application was submitted in December 2024- Marsi 1 / Sõjakooli 13 - building permit application was submitted in February 2025.- Sammu 3 / Sõjakooli 17 – we are in the design phase and preparing a new concept, alongside an application for a change of use to allow 95% residential and 5% commercial functions. All the above listed projects will add ca 35.000 sqm of GBA with ca 350 units of predominantly residential function (95% residential/5% commercial) to our portfolio in a well-established neighbourhood in Kristiine City. As of Q1 2025, construction of the White Building (91 residential units) in the Uus-Kindrali project, located in Kristiine City at Talli Street 3 / Sammu Street 8, Tallinn, has progressed well. Work on internal partition walls is underway, and finishing works have begun on the lower floors. The project has reached a 57% sellout, with final completion expected in November–December 2025. At the end of Q1, we also started excavation and foundation works for another 7-story residential building with 90 units, located next to the White Building at Sammu Street 10 / Seebi Street 24a, Tallinn. With the initial launch of presales, approximately 11% of units were sold. Riga Following the successful completion of sales in River Breeze Residence at the end of 2024, with all units sold and only two parking spaces remaining, the Group initiated preparations for the next phase of development in Kliversala – the Blue Marine project (101 residential units). During Q1 2025, we took key steps toward launching this new stage. A new construction project manager was hired, and a tender was held among contractors. Based on the outcome, management decided to adopt the in-house construction management model already used in Estonia. Recruitment for the engineering team is ongoing, and groundbreaking is planned for July 2025. At the same time, we have started collecting interest from potential buyers. Vilnius During Q1 we continued the construction of the final stage of Šaltinių Namai Attico with city villas and a commercial building. We are currently at 35% sellout in the villas and 10% in the commercial building while achieving record prices in Vilnius RE market. Regarding construction we are on schedule to achieve substantial completion by the end of 2025. Our latest investment on Naugarduko Street in Vilnius involves transforming a former school into a high-end residential complex. Located on a hill with breathtaking views of Vilnius' Old Town, the development will feature approximately 50 luxury apartments. An architectural competition was carried out for the purpose, and the winning studio has been in the process of designing and carrying out the building permit process with the city. Subject to the issuance of the permit, we plan to start renovation works at the end of 2025. Hotel operations Hotel performance in the first quarter was slightly below last year's level, primarily due to a general decline in individual demand, particularly in February. However, we expect to fully recover this shortfall in the coming period, supported by increasing demand from the MICE segment and a visible rebound in individual travel in the second quarter. We are confident that the property will maintain the positive trends of performance shown in the past years. Other operations The Group holds a majority stake in Preatoni Nuda Proprietà (PNP) and its subsidiary Preatoni Intermediazioni Immobiliari (PII), which continue to strengthen their presence in the Italian real estate market, focusing on bare ownership transactions. Despite the market slowdown in 2024, caused by rising interest rates, confidence in the real estate sector has been gradually recovering, with full market normalization expected by the end of 2025. As in previous years, PII's business activity started slowly in Q1, but since April we have seen a clear increase in momentum, culminating in a historic sales record during the month. A significant brokerage deal is also expected to close in May, which could result in exceeding last year's revenue already by the end of Q2 2025. As for PNP, the company did not engage in any proprietary property trading during the first quarter, however we are currently evaluating new acquisition opportunities to resume trading activities. Conclusion The first quarter of 2025 has marked a solid start across our geographies, despite continued bureaucratic delays and seasonal slowdowns in some areas of our operations. In Tallinn, we made tangible progress both in terms of construction milestones and in expanding our development pipeline within the promising Kristiine City area. Riga has seen renewed momentum with the preparation of the Blue Marine project, where we are applying the successful in-house construction model used in Estonia. In Vilnius, we are achieving record pricing in our flagship project and laying the groundwork for a high-end transformation in Naugarduko Street. Outside the Baltic region, Preatoni Nuda Proprietà and PII are entering 2025 with renewed strength. After a quiet Q1 in Italy, April marked a turning point with historic sales figures, and May promises to exceed last year's total revenue thanks to high-profile deals. Although hotel operations were slightly impacted in February, the outlook for the coming quarters remains positive, supported by rising MICE and individual demand. Overall, the Group remains focused on disciplined execution, strategic development, and value creation. We are well positioned to capitalize on the improving macroeconomic sentiment and deliver strong results throughout the rest of the year. Edoardo PreatoniCEO Key financials The total revenue of the Group in the first quarter of 2025 was 12.5 million euros compared to 3.1 million euros in the first quarter of 2024. The real estate sales revenues are recorded at the point of time when legal title is transferred to the buyer. Therefore, the revenues from sales of real estate depend on the construction cycle and the completion of the residential developments. Revenue from the sale of real estate increased compared to the previous year, as we continued handing over completed apartments in the Kalaranna District, Tallinn, following the initial deliveries that began in December 2024. The lower revenue in the first quarter of 2024 reflects the development cycle, as construction was ongoing and only a limited number of remaining inventory units were available for sale in Riga and Vilnius. The gross profit for the first three months of 2025 increased to 4.2 million euros compared to 0.9 million euros in the same period of 2024. The operating result in the first quarter of 2025 was 2.5 million euros profit comparing to 0.7 million euros loss during the same period in 2024. The net result for the first three months of 2025 was 1.9 million euros profit, comparing to 1.7 million euros loss in the reference period. Cash generated in operating activities during first three months of 2025 was 1.3 million euros comparing to 1.7 million euros used during the same period in 2024. Net assets per share on 31 March 2025 totalled to 0.94 euros compared to 0.95 euros on 31 March 2024. Key performance indicators 2025 3M 2024 3M 2024 12M Revenue, th, EUR 12 450 3 054 18 158 Gross profit, th. EUR 4 207 888 5 423 Gross profit, % 34% 29% 30% Operating result, th. EUR 2 542 -659 123 Operating result, % 20% -22% 1% Net result, th. EUR 1 890 -1 700 -3 875 Net result, % 15% -56% -21% 31.03.2025 31.03.2024 31.12.2024 Total Assets, th. EUR 121 074 105 855 118 758 Total Liabilities, th. EUR 67 963 52 027 67 537 Total Equity, th. EUR 53 111 53 828 51 221 Debt/ Equity * 1,28 0,97 1,32 Return on Assets, % ** 1,7% -1,6% -3,4% Return on Equity, % *** 3,5% -3,1% -7,0% Net asset value per share, EUR **** 0,94 0,95 0,89 *debt / equity = total debt / total equity**return on assets = net profit/loss / total average assets***return on equity = net profit/loss / total average equity ****net asset value per share = net equity / number of shares CONSOLIDATED FINANCIAL STATEMENTS Consolidated interim statement of financial position in thousands of euros 31.03.2025 31.03.2024 31.12.2024 ASSETS Current assets Cash 3 949 8 897 4 344 Current receivables 3 578 1 688 822 Prepaid expenses 0 434 422 Inventories 57 634 39 980 56 951 Total current assets 65 161 50 999 62 539 Non-current assets Non-current receivables 315 22 317 Property, plant and equipment 7 520 7 712 7 595 Right-of-use-assets 449 551 513 Investment property 44 335 40 378 44 210 Goodwill 863 204 863 Intangible assets 2 431 3 654 2 721 Total non-current assets 55 913 52 521 56 219 Assets held for sale 0 2 335 0 Total assets helt for sale 0 2 335 0 TOTAL ASSETS 121 074 105 855 118 758 LIABILITIES AND EQUITY Current liabilities Current debt 17 354 1 733 21 893 Customer advances 8 616 5 602 9 618 Trade and other payables 7 202 6 303 5 600 Tax liabilities 1 171 208 833 Short-term provisions 5 8 24 Total current liabilities 34 348 13 854 37 968 Non-current liabilities Non-current debt 31 466 36 903 27 350 Other long term liabilities 6 2 6 Deferred income tax liabilities 1 950 1 140 2 031 Long-term provisions 193 128 182 Total non-current liabilities 33 615 38 173 29 569 TOTAL LIABILITIES 67 963 52 027 67 537 Equity Share capital in nominal value 11 338 11 338 11 338 Share premium 5 661 5 661 5 661 Statutory reserve 1 134 1 134 1 134 Revaluation reserve 1 977 2 092 1 977 Retained earnings 32 518 32 498 30 523 Total equity attributable to owners of the Company 52 628 52 723 50 633 Non-controlling interest 483 1 105 588 TOTAL EQUITY 53 111 53 828 51 221 TOTAL LIABILITIES AND EQUITY 121 074 105 855 118 758 Consolidated interim statements of comprehensive income in thousands of euros 2025 3M 2024 3M 2024 12M CONTINUING OPERATIONS Operating income Revenue 12 450 3 054 18 158 Cost of goods sold -8 243 -2 166 -12 735 Gross profit 4 207 888 5 423 Marketing expenses -286 -222 -1 136 Administrative expenses -1 326 -1 325 -5 293 Other operating income 12 2 1 164 Other operating expenses -65 -2 -35 Operating profit 2 542 -659 123 Finance income 13 42 123 Finance cost -745 -1 073 -4 276 Profit/ loss before income tax 1 810 -1 690 -4 030 Income tax 80 -10 155 Profit/ loss for the period 1 890 -1 700 -3 875 Attributable to: Equity holders of the parent 1 995 -1 700 -3 675 Non-controlling interest -105 0 -200 Total other comprehensive income Net change in asset revaluation reserve 0 0 -115 Total comprehensive income for the period 1 890 -1 700 -3 990 Attributable to: Equity holders of the parent 1 995 -1 700 -3 790 Non-controlling interest -105 0 -200 Earnings per share (Basic) € 0,04 -0,03 -0,06 The full report can be found in the file attached. Ann-Kristin KuusikCFO+372 614 4920prokapital@ Attachment PKG_Q1_2025_ENGError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-05-2025
- Business
- Yahoo
Pro Kapital Council approved Consolidated Interim Report for I Quarter and 3 Months of 2025 (Unaudited)
MANAGEMENT REPORT Real Estate Development Tallinn During the first quarter of 2025, construction of the final phase of the Kalaranna development (4 buildings, 146 units) reached substantial completion, although some minor finishing works continued into the second quarter. As of the publication of this report, 68 sold apartments have been handed over to buyers, and the overall sales rate has reached nearly 60%. In Kristiine City, we are actively engaged in the design and building permit application process for four different projects submitted to the Tallinn City Planning Department: - "Dunte" - awaiting the issuance of the building permit.- Sammu 2/4 / Sõjakooli 15 - building permit application was submitted in December 2024- Marsi 1 / Sõjakooli 13 - building permit application was submitted in February 2025.- Sammu 3 / Sõjakooli 17 – we are in the design phase and preparing a new concept, alongside an application for a change of use to allow 95% residential and 5% commercial functions. All the above listed projects will add ca 35.000 sqm of GBA with ca 350 units of predominantly residential function (95% residential/5% commercial) to our portfolio in a well-established neighbourhood in Kristiine City. As of Q1 2025, construction of the White Building (91 residential units) in the Uus-Kindrali project, located in Kristiine City at Talli Street 3 / Sammu Street 8, Tallinn, has progressed well. Work on internal partition walls is underway, and finishing works have begun on the lower floors. The project has reached a 57% sellout, with final completion expected in November–December 2025. At the end of Q1, we also started excavation and foundation works for another 7-story residential building with 90 units, located next to the White Building at Sammu Street 10 / Seebi Street 24a, Tallinn. With the initial launch of presales, approximately 11% of units were sold. Riga Following the successful completion of sales in River Breeze Residence at the end of 2024, with all units sold and only two parking spaces remaining, the Group initiated preparations for the next phase of development in Kliversala – the Blue Marine project (101 residential units). During Q1 2025, we took key steps toward launching this new stage. A new construction project manager was hired, and a tender was held among contractors. Based on the outcome, management decided to adopt the in-house construction management model already used in Estonia. Recruitment for the engineering team is ongoing, and groundbreaking is planned for July 2025. At the same time, we have started collecting interest from potential buyers. Vilnius During Q1 we continued the construction of the final stage of Šaltinių Namai Attico with city villas and a commercial building. We are currently at 35% sellout in the villas and 10% in the commercial building while achieving record prices in Vilnius RE market. Regarding construction we are on schedule to achieve substantial completion by the end of 2025. Our latest investment on Naugarduko Street in Vilnius involves transforming a former school into a high-end residential complex. Located on a hill with breathtaking views of Vilnius' Old Town, the development will feature approximately 50 luxury apartments. An architectural competition was carried out for the purpose, and the winning studio has been in the process of designing and carrying out the building permit process with the city. Subject to the issuance of the permit, we plan to start renovation works at the end of 2025. Hotel operations Hotel performance in the first quarter was slightly below last year's level, primarily due to a general decline in individual demand, particularly in February. However, we expect to fully recover this shortfall in the coming period, supported by increasing demand from the MICE segment and a visible rebound in individual travel in the second quarter. We are confident that the property will maintain the positive trends of performance shown in the past years. Other operations The Group holds a majority stake in Preatoni Nuda Proprietà (PNP) and its subsidiary Preatoni Intermediazioni Immobiliari (PII), which continue to strengthen their presence in the Italian real estate market, focusing on bare ownership transactions. Despite the market slowdown in 2024, caused by rising interest rates, confidence in the real estate sector has been gradually recovering, with full market normalization expected by the end of 2025. As in previous years, PII's business activity started slowly in Q1, but since April we have seen a clear increase in momentum, culminating in a historic sales record during the month. A significant brokerage deal is also expected to close in May, which could result in exceeding last year's revenue already by the end of Q2 2025. As for PNP, the company did not engage in any proprietary property trading during the first quarter, however we are currently evaluating new acquisition opportunities to resume trading activities. Conclusion The first quarter of 2025 has marked a solid start across our geographies, despite continued bureaucratic delays and seasonal slowdowns in some areas of our operations. In Tallinn, we made tangible progress both in terms of construction milestones and in expanding our development pipeline within the promising Kristiine City area. Riga has seen renewed momentum with the preparation of the Blue Marine project, where we are applying the successful in-house construction model used in Estonia. In Vilnius, we are achieving record pricing in our flagship project and laying the groundwork for a high-end transformation in Naugarduko Street. Outside the Baltic region, Preatoni Nuda Proprietà and PII are entering 2025 with renewed strength. After a quiet Q1 in Italy, April marked a turning point with historic sales figures, and May promises to exceed last year's total revenue thanks to high-profile deals. Although hotel operations were slightly impacted in February, the outlook for the coming quarters remains positive, supported by rising MICE and individual demand. Overall, the Group remains focused on disciplined execution, strategic development, and value creation. We are well positioned to capitalize on the improving macroeconomic sentiment and deliver strong results throughout the rest of the year. Edoardo PreatoniCEO Key financials The total revenue of the Group in the first quarter of 2025 was 12.5 million euros compared to 3.1 million euros in the first quarter of 2024. The real estate sales revenues are recorded at the point of time when legal title is transferred to the buyer. Therefore, the revenues from sales of real estate depend on the construction cycle and the completion of the residential developments. Revenue from the sale of real estate increased compared to the previous year, as we continued handing over completed apartments in the Kalaranna District, Tallinn, following the initial deliveries that began in December 2024. The lower revenue in the first quarter of 2024 reflects the development cycle, as construction was ongoing and only a limited number of remaining inventory units were available for sale in Riga and Vilnius. The gross profit for the first three months of 2025 increased to 4.2 million euros compared to 0.9 million euros in the same period of 2024. The operating result in the first quarter of 2025 was 2.5 million euros profit comparing to 0.7 million euros loss during the same period in 2024. The net result for the first three months of 2025 was 1.9 million euros profit, comparing to 1.7 million euros loss in the reference period. Cash generated in operating activities during first three months of 2025 was 1.3 million euros comparing to 1.7 million euros used during the same period in 2024. Net assets per share on 31 March 2025 totalled to 0.94 euros compared to 0.95 euros on 31 March 2024. Key performance indicators 2025 3M 2024 3M 2024 12M Revenue, th, EUR 12 450 3 054 18 158 Gross profit, th. EUR 4 207 888 5 423 Gross profit, % 34% 29% 30% Operating result, th. EUR 2 542 -659 123 Operating result, % 20% -22% 1% Net result, th. EUR 1 890 -1 700 -3 875 Net result, % 15% -56% -21% 31.03.2025 31.03.2024 31.12.2024 Total Assets, th. EUR 121 074 105 855 118 758 Total Liabilities, th. EUR 67 963 52 027 67 537 Total Equity, th. EUR 53 111 53 828 51 221 Debt/ Equity * 1,28 0,97 1,32 Return on Assets, % ** 1,7% -1,6% -3,4% Return on Equity, % *** 3,5% -3,1% -7,0% Net asset value per share, EUR **** 0,94 0,95 0,89 *debt / equity = total debt / total equity**return on assets = net profit/loss / total average assets***return on equity = net profit/loss / total average equity ****net asset value per share = net equity / number of shares CONSOLIDATED FINANCIAL STATEMENTS Consolidated interim statement of financial position in thousands of euros 31.03.2025 31.03.2024 31.12.2024 ASSETS Current assets Cash 3 949 8 897 4 344 Current receivables 3 578 1 688 822 Prepaid expenses 0 434 422 Inventories 57 634 39 980 56 951 Total current assets 65 161 50 999 62 539 Non-current assets Non-current receivables 315 22 317 Property, plant and equipment 7 520 7 712 7 595 Right-of-use-assets 449 551 513 Investment property 44 335 40 378 44 210 Goodwill 863 204 863 Intangible assets 2 431 3 654 2 721 Total non-current assets 55 913 52 521 56 219 Assets held for sale 0 2 335 0 Total assets helt for sale 0 2 335 0 TOTAL ASSETS 121 074 105 855 118 758 LIABILITIES AND EQUITY Current liabilities Current debt 17 354 1 733 21 893 Customer advances 8 616 5 602 9 618 Trade and other payables 7 202 6 303 5 600 Tax liabilities 1 171 208 833 Short-term provisions 5 8 24 Total current liabilities 34 348 13 854 37 968 Non-current liabilities Non-current debt 31 466 36 903 27 350 Other long term liabilities 6 2 6 Deferred income tax liabilities 1 950 1 140 2 031 Long-term provisions 193 128 182 Total non-current liabilities 33 615 38 173 29 569 TOTAL LIABILITIES 67 963 52 027 67 537 Equity Share capital in nominal value 11 338 11 338 11 338 Share premium 5 661 5 661 5 661 Statutory reserve 1 134 1 134 1 134 Revaluation reserve 1 977 2 092 1 977 Retained earnings 32 518 32 498 30 523 Total equity attributable to owners of the Company 52 628 52 723 50 633 Non-controlling interest 483 1 105 588 TOTAL EQUITY 53 111 53 828 51 221 TOTAL LIABILITIES AND EQUITY 121 074 105 855 118 758 Consolidated interim statements of comprehensive income in thousands of euros 2025 3M 2024 3M 2024 12M CONTINUING OPERATIONS Operating income Revenue 12 450 3 054 18 158 Cost of goods sold -8 243 -2 166 -12 735 Gross profit 4 207 888 5 423 Marketing expenses -286 -222 -1 136 Administrative expenses -1 326 -1 325 -5 293 Other operating income 12 2 1 164 Other operating expenses -65 -2 -35 Operating profit 2 542 -659 123 Finance income 13 42 123 Finance cost -745 -1 073 -4 276 Profit/ loss before income tax 1 810 -1 690 -4 030 Income tax 80 -10 155 Profit/ loss for the period 1 890 -1 700 -3 875 Attributable to: Equity holders of the parent 1 995 -1 700 -3 675 Non-controlling interest -105 0 -200 Total other comprehensive income Net change in asset revaluation reserve 0 0 -115 Total comprehensive income for the period 1 890 -1 700 -3 990 Attributable to: Equity holders of the parent 1 995 -1 700 -3 790 Non-controlling interest -105 0 -200 Earnings per share (Basic) € 0,04 -0,03 -0,06 The full report can be found in the file attached. Ann-Kristin KuusikCFO+372 614 4920prokapital@ Attachment PKG_Q1_2025_ENG
