Market announcement
EfTEN Real Estate Fund AS
LEI code
4851000008JBI71L7643
Size of the entity
Medium group
Economic activities
Financial and Insurance Activities
Industry sector(s)
Management company
Country of registered office
Estonia
General information
Categories
Other corporate action
Unique data record identifier
10055
Attachments
Submission date and time
11.01.2023 08:40:49
Content of announcement in Estonian
Title
EfTEN Real Estate Fund III AS’i aktsia puhasväärtus seisuga 31.12.2022
Message
EfTEN Real Estate Fund III AS'i konsolideeritud üüritulu oli detsembris kokku 1 293 tuhat eurot, s.o 211 tuhat eurot kõrgem kui novembris. Fondi üüritulu tõusis detsembris tänu Saules Miestas kaubanduskeskuse käibeüüridele. Fondi konsolideeritud EBITDA oli detsembris 1 093 tuhat eurot, s.o 147 tuhat eurot kõrgem kui novembris. Fondi intressikulud kasvasid detsembris 24% võrra ning olid kokku 217 tuhat eurot. Fondi laenude kaalutud keskmine intressimäär kasvas EURIBOR-i tõusu mõjul 3,69%-ni (30.11.2022 seisuga oli kaalutud keskmine intressimäär 3,32%). 2022. aastal teenis EfTEN Real Estate Fund III AS 13,5 miljonit eurot konsolideeritud üüritulu (11% rohkem kui eelmisel aastal) ning 11,8 miljonit eurot EBITDA-d (17% rohkem kui eelmisel aastal). Like-for-like portfelli EBITDA kasvas samal ajal 13% (1,29 miljonit eurot). EfTEN Real Estate Fund III AS teenis 2022. aastal kokku 6,2 miljonit eurot vaba rahavoogu. Sellest rahavoost, arvestades fondi dividendipoliitikat, saaks maksta 4,638 miljonit netodividendiks (91,4 senti aktsia kohta). Lisaks saab EfTEN Laagri OÜ (Laagri Selveri kinnistu omanikettevõte) pangalaenu refinantseerimisest 2023. aasta veebruaris lisavahendeid, mille tulemusel saaks fond aktsionäridele maksta netodividendi kokku 5,438 miljonit eurot (1,072 eurot aktsia kohta). Eelmisel aastal maksis EfTEN Real Estate Fund III AS investoritele netodividendi 0,8 eurot aktsia kohta. Märgime, et seoses EfTEN Kinnisvarafond AS ning EfTEN Real Estate Fund III ühinemisega (ühinemise bilansipäev oli 01.01.2023) plaanitav dividendimakse suureneb, sest 2023. aasta kevadel jaotatavas kasumis võetakse fondis arvesse ka ühendatava EfTEN Kinnisvarafond AS-i ning tema tütarettevõtete vabad vahendid. EfTEN Real Estate Fund III AS'i puhaskasum oli 2022. aastal kokku 11,4 miljonit eurot (2021: 13,099 miljonit eurot). Väiksem puhaskasum on seotud kinnisvarainvesteeringute ümberhindlusega, mis sellel aastal oli 3,1 miljonit eurot ja 2021. aastal 6,4 miljonit eurot. Kinnisvarainvesteeringute õiglane väärtus kasvas 2022. aastal kokku 1,9% (eelmisel aastal 4,1%). EfTEN Real Estate Fund III AS'i NAV oli 31.12.2022 seisuga 20,5548 eurot ja EPRA NRV 21,907 eurot. Nii EPRA NRV kui NAV kasvasid detsembris 0,5%. Seoses EfTEN Real Estate Fund III AS ja EfTEN Kinnisvarafond AS ühinemisega (ühinemise bilansipäev oli 01.01.2023) on käesolevale teatele lisatud ka EfTEN Kinnisvarafond AS viimane finantsülevaade. Marilin Hein Finantsjuht Tel. 6559 515 E-mail: [email protected]
Content of announcement in English
Title
The net value of EfTEN Real Estate Fund III AS shares as of 31.12.2022
Message
The consolidated rental income of EfTEN Real Estate Fund III AS was a total of 1,293 thousand euros in December, i.e. 211 thousand euros higher than in November. The fund's rental income increased in December due to the turnover rents of the Saules Miestas shopping center. The fund's consolidated EBITDA was 1,093 thousand euros in December, i.e. 147 thousand euros higher than in November. The fund's interest expenses increased by 24% in December and totaled to 217 thousand euros. The weighted average interest rate of the fund's loans increased to 3.69% due to the increase in EURIBOR (as of 30.11.2022, the weighted average interest rate was 3.32%). In 2022, EfTEN Real Estate Fund III AS earned 13.5 million euros of consolidated rental income (11% more than last year) and 11.8 million euros of EBITDA (17% more than last year). At the same time, EBITDA of the like-for-like portfolio grew by 13% (by 1.29 million euros). EfTEN Real Estate Fund III AS earned a total of 6.2 million euros in free cash flow in 2022. From this cash flow, taking into account the fund's dividend policy, 4.638 million could be paid as a net dividend (91.4 cents per share). In addition, the EfTEN Laagri OÜ (owner company of Laagri Selver property)will receive additional funds from the refinancing of the bank loan in February 2023, as a result of which the fund could pay a net dividend of 5.438 million euros (1.072 euros per share) to the shareholders. Last year, EfTEN Real Estate Fund III AS paid investors a net dividend of 0.8 euros per share. We note that in connection with the merger of EfTEN Kinnisvarafond AS and EfTEN Real Estate Fund III (the balance sheet date of the merger was 01.01.2023), the planned dividend payment will increase, due to the free funds of EfTEN Kinnisvarafond AS and its subsidiaries are also taken into account in the fund's profit distributed in the spring of 2023. The net profit of EfTEN Real Estate Fund III AS in 2022 was a total of 11.4 million euros (2021: 13.099 million euros). The lower net profit is related to the revaluation of investment properties, which was 3.1 million euros this year and 6.4 million euros in 2021. The fair value of investment properties increased by a total of 1.9% in 2022 (4.1% last year). As of 31.12.2022, the NAV of EfTEN Real Estate Fund III AS was 20.5548 euros and the EPRA NRV was 21.907 euros. Both EPRA NRV and NAV increased by 0.5% in December. In connection with the merger of EfTEN Real Estate Fund III AS and EfTEN Kinnisvarafond AS (the balance sheet date of the merger was 01.01.2023), the latest dashboard of EfTEN Kinnisvarafond AS is also attached to this announcement. Marilin Hein CFO Phone +372 6559 515 E-mail: [email protected] (mailto:[email protected])