Baltic Horizon Fund (NHCBHFFT) Earnings Call Transcripts

Baltic Horizon Fund's Latest Earnings Call - June 1, 2026

In the Q1 2026 earnings call for Baltic Horizon Fund, management highlighted a significant turnaround effort following a challenging 2025, where the fund faced severe liquidity issues and high debt levels. Total revenues for 2025 were reported at EUR 20 million, consistent with the previous year, while the fund's debt service coverage ratio improved to 1.1, indicating a positive shift in cash flow management. Management signaled a cautious optimism for 2026, aiming for profitability and a reduction in loan-to-value ratios, with a target to achieve below 50% LTV in the near future.

Reported metrics

Guidance from management

Management aims to achieve profitability and reduce the loan-to-value ratio below 50% within the next year. They have committed to not restarting distributions until turnaround objectives are met.

What management said

Yes. I don't know if the webinar, I think this can hear the same because we're in a quite sizable room. So I'll repeat the question. Basically, the question is about the bond limitations, are there any limitations that would prevent us from repaying the bonds. So maybe Gerda, you can answer.

There are online question about is the share of units published somewhere to the the majority of unitholders are the reported somewhere. So we have the report on the unitholders in our quarterly and annual report. There is a section at the back of the financial report, where 1 can see the investors. Unfortunately, in the current setup now that does not allow us to see the full unitholders as some of the unitholders u...

What analysts pressed on

Analysts expressed concerns about the challenges in achieving asset sales at book value and the ongoing high interest expenses. There was also skepticism regarding the sustainability of the recent operational improvements and whether the fund can maintain its positive trajectory.

Main topics on the call

• Debt Management Improvement — The fund's debt service coverage ratio improved to 1.1, indicating better cash flow management. Management noted, "we are moving closer to that figure and having at least a bit of headroom to cover the debt."
• Operational Efficiency Gains — Management reported a 4% increase in service charge collection rates, reflecting improved operational efficiency. They stated, "we managed to achieve 4% higher service charge collection rate, which is already showing som...
• Recapitalization Efforts — The fund raised approximately EUR 12 million in a recent capital raising, which was described as a good result and crucial for asset management and bond repayment. Management emphasized, "this gives us the capital to wor...
• Turnaround Strategy — Management outlined three key objectives for the turnaround: achieving profitability, improving property competitiveness, and establishing a sustainable capital structure. They noted, "we must ensure that the fund become...

Read the full Baltic Horizon Fund transcript (June 1, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 38 Baltic Horizon Fund earnings call transcripts on record, spanning March 31, 2020 to June 1, 2026. Based on this history, Baltic Horizon Fund reports quarterly. The most recent call on file is dated June 1, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

NHCBHFFT

Exchange

TLSE

Country

EE

Sector

Financials

Industry

Capital Markets

Calls on record

38

First call

March 31, 2020

Most recent

June 1, 2026

Reporting cadence

quarterly