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Ettevõte EfTEN Real Estate Fund III AS
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Kategooria Muud korporatiivtoimingud
Avaldamise aeg 09 mai 2019 16:07:00 +0300
Keeleversioonid
Keel English
Valuuta
Pealkiri EfTEN Real Estate Fund III AS Net Asset Value per share as of 30.04.2019
Tekst
In April 2019, the annual general meeting of EfTEN Real Estate Fund III AS
decided to distribute dividends in the amount of 3,061 thousand euros. The
distribution of dividends carried corporate income tax expense of 140 thousand
euros.

The  net asset value (NAV) of the shares of  EfTEN Real Estate Fund III AS as of
30.04.2019 was   15.22 euros.   NAV  decreased  by  6.2% in  April  due  to  the
announcement  of  dividends.  Without  dividend  distribution,  NAV  would  have
increased  by 0.8%, compared to previous month. The EPRA NAV per share (net book
value  excluding  deferred  income  tax  liability  and  fair  value of interest
derivatives) as of 30.04.2019 was 16.46 euros (31.03.2019: 17.3 euros).

In  April, EfTEN Real Estate Fund III AS earned 777 thousand euros sales income,
which is at the same level as in the previous month. In April, the Fund's EBITDA
was 594 thousand euros (639 thousand euros in March).

In  April 2019, the  Fund's net  profit was  251 thousand euros  (in March: 450
thousand  euros). The  lower net  profit was  related to  the income tax expense
associated with the announcement of dividends and the adjustment of deferred tax
liability in subsidiaries in Lithuania.

During  the first four  months of this  year, EfTEN Real  Estate Fund III AS has
earned 3.1 million euros in sales revenue (15% and 410 thousand more than in the
same  period last year),  which has come  from new investments (Evolution office
building,  sales and service premises of ABC  Motors) and the increase in rental
income  on the DSV Latvia  after the extension. The  Fund's EBITDA for the first
four  months of  this year  totaled 2,469 thousand,  which is  17% (357 thousand
euros) higher than last year.

Based  on the fund's dividend policy, which  stipulates that at least 80% of the
free  cash flow  will be  distributed to  the shareholders,  the Fund  could pay
dividends  based on the first four months  of 2019 in the amount of 843 thousand
euros (26 cents per share).

The  volume  of  consolidated  assets  of  EfTEN  Real  Estate  Fund  III  as of
30.04.2019 was  113.5 million euros (31.12.2018: 108.5 million euros) and equity
was 49.1 million euros (31.12.2018: 50.5 million euros).




Marilin Hein
CFO
Phone 655 9515
E-mail: marilin.hein@eften.ee