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The supervisory board of Arco Vara AS approved Arco Vara AS’s annual report for 2012 together with the proposal for covering the loss at a meeting held on 24 April 2013.

The supervisory board resolved to submit the annual report and the proposal for covering the loss, both prepared by the management board, to the annual general meeting as presented by the management board.

The audited annual report for 2012 is available on the website of the NASDAQ OMX Tallinn Stock Exchange and on that of Arco Vara at http://www.arcorealestate.com.

Arco Vara’s audited consolidated revenue for 2012 was 20.7 million euros. The Group’s revenue for 2011 was 43.1 million euros. Revenue decreased by 52%. The audited consolidated net loss for 2012 was 18 million euros. The net loss for the comparative period was 3.4 million euros.

There were no significant adjustments made in audited annual report compared to the preliminary 12 month interim report published on 28 February 2013.

Egert Paulberg
Financial Controller
Arco Vara AS
Tel: +372 614 4503
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Annual report 2012 of Arco Vara AS