The net asset value (NAV) of the shares of EfTEN Real Estate Fund III AS as of
31.08.2019 was 16.11 euros per share. NAV increased by 0,7% in August. The EPRA
NAV per share (net book value excluding deferred income tax liability and fair
value of interest derivatives) as of 31.08.2019 was 17.16 euros. EPRA NAV
increased by 0,8% during August.
EfTEN Real Estate Fund III AS earned sales income of EUR 791 thousand in August,
which is EUR 7 thousand more than a month ago. The EBITDA of the Fund in August
was 646 thousand euros (614 thousand euros in June).
The Fund's net profit for August 2019 is EUR 445 thousand (July: EUR 429
thousand).
During the first eight months of this year, EfTEN Real Estate Fund III AS has
earned EUR 6.2 million in sales (11% and EUR 0.6 million more than in the same
period last year). The fund's EBITDA for the first seven months of this year is
EUR 4.9 million (10% and EUR 0.5 million more than in the same period 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 eight months of 2019 in the amount of 1,7 million
euros (41 cents per share).
As of the end of August, EfTEN Real Estate Fund III AS has EUR 14 million of
uninvested equity at its accounts. Finding suitable projects for investment is
the first priority of the Fund's management. Hortes Tähesaju construction is
going according to the schedule. The new gardening center will be opened in
fourth quarter of the 2019.
The volume of consolidated assets of EfTEN Real Estate Fund III AS as of
31.08.2019 was 129.7 million euros (31.12.2018: 108.5 million euros) and equity
was 68.0 million euros (31.12.2018: 50.5 million euros).
Marilin Hein
CFO
Phone 655 9515
E-mail: marilin.hein@eften.ee
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