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Ettevõte EfTEN Real Estate Fund AS
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Avaldamise aeg 10 sept 2020 10:10:32 +0300
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Valuuta
Pealkiri Net asset value of EfTEN Real Estate Fund III AS as of 31.08.2020
Tekst
The net asset value (NAV) of EfTEN Real Estate Fund III AS as of 31.08.2020 was
16.22 euros, increasing by 0.8% in August. The net asset value of the EPRA share
(net book value excluding deferred income tax liability and fair value of
interest rate derivatives) as of 31.08.2020 was 17.29 euros. EPRA NAV increased
0.9% during August.

August was the most successful month in the history of the fund in terms of both
sales revenue and EBITDA.
In August, EfTEN Real Estate Fund III AS earned a total of 950 thousand euros in
sales revenue, ie 94 thousand euros more than in July. The Fund's August results
included, for the first time, rental income from the Atea office building in
Vilnius in the amount of 41 thousand euros (calculated for 18 days), as well as
temporary rent discounts in DSV Estonia and DSV Lithuania logistics centers
ended. The fund's EBITDA was 767 thousand euros in August (69 thousand euros
more than in July).

In August, the fund's subsidiary Saules Miestas UAB extended its loan agreement
with Swedbank for the next three years. The loan was refinanced in the total
amount of 14.6 million euros with an interest margin of 2.65%.

The fund's consolidated cash balance decreased by 4.3 million euros in August,
including the equity capital on the acquisition of the Atea office building in
the amount of 4.5 million euros. The consolidated cash balance at the end of
August was 4.2 million euros. As of the end of August, all funds received from
the share issue last year have been invested.

In the first eight months of this year, the fund is lost an approximately of
380 thousand euros (6.1%) in rental income compared to the previous year due to
the impact of Covid-19. The payment behavior of the fund's clients is good as at
the end of August - the fund has overdue receivables in the total amount of 138
thousand euros, of which debts older than 2 months make up 18%. Debts older than
2 months are mainly related to unpaid invoices of the tenants of Saules Miestas
shopping center.

As of 31.08.2020, the consolidated assets of EfTEN Real Estate Fund III AS were
142.7 million euros (31.12.2019: 132.8 million euros) and equity 68.5 million
euros (31.12.2019: 71.17 million euros) .

Marilin Hein
CFO
Phone: 6559 515
E-mail: marilin.hein@eften.ee (mailto:marilin.hein@eften.ee)