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
10239
Attachments
Submission date and time
13.04.2023 08:00:00
Content of announcement in Estonian
Title
EfTEN Real Estate Fund AS’i aktsia puhasväärtus seisuga 31.03.2023
Message
Märtsiga lõppes EfTEN Real Estate Fund AS'i esimene täiskvartal peale fondi ühinemist EfTEN Kinnisvarafond AS-ga. Fondi konsolideeritud puhas üüritulu (NOI) oli 2023.a I kvartalis 7,3 miljonit eurot. Arvestades üüritulu tootvaid kinnisvarainvesteeringuid, teeb see EfTEN Real Estate Fund AS´i tegelikuks puhas üüritootluseks aasta baasil 8,0%. Selle aasta I kvartali jooksul on fond teeninud konsolideeritud üüritulu kokku 7,5 miljonit eurot (2022: 3,3 miljonit eurot) ning EBITDA-d 6,45 miljonit eurot (2022: 2,9 miljonit eurot). I kvartali konsolideeritud üüritulu sisaldab ühinemisel lisandunud kinnisvarainvesteeringute üüritulu kogusummas 4,0 miljonit eurot, mis võrreldes EfTEN Kinnisvarafond AS'i eelmise aasta sama perioodiga on kasvanud 5,3%. Nende kinnisvarainvesteeringute osas, mis on fondi bilansis olnud vähemalt kahel järjestikusel aastal (Like-for-like), on üüritulu võrreldes eelmise aastaga suurenenud 4,7%. Märtsis oli EfTEN Real Estate Fund AS´i konsolideeritud üüritulu kokku 2 513 tuhat eurot, s.o 18 tuhat eurot rohkem kui veebruaris. Fondi konsolideeritud puhas üüritulu (NOI) oli märtsis 2 449 tuhat eurot, s.o 21 tuhat eurot rohkem kui veebruaris. Fondi EBITDA oli märtsis kokku 2 148 tuhat eurot, mis on 21 tuhat eurot vähem kui veebruaris. Fondi konsolideeritud raha jääk oli 31.03.2023 seisuga 25 166 tuhat eurot ning raha jääk suurenes märtsis 694 tuhande euro võrra. Märtsis tegid fondi tütarettevõtted investeeringuid olemasolevatesse kinnistutesse kokku 507 tuhande euro ulatuses. Fondi 2023. aasta I kvartali konsolideeritud korrigeeritud rahavoog (EBITDA miinus intressikulud miinus laenude põhiosade tagastused miinus Leedu ettevõtete tulumaksukulu) oli kokku 3,0 miljonit eurot (eelmisel aastal samal perioodil 1,5 miljonit eurot). Arvestades fondi dividendipoliitikat, teeks see brutodividendiks aktsia kohta 22,25 senti (2022 I kvartal: 23,68 senti), s.o 6% vähem kui eelmisel aastal. Potentsiaalne dividend aktsia kohta on vähenenud seoses EURIBORi tõusuga. Fondi kaalutud keskmine intressimäär on selle aasta 31. märtsi seisuga 4,66%. Eelmise aasta märtsi lõpus oli fondi tütarettevõtete laenude kaalutud keskmine intressimäär 2,3%. EfTEN Real Estate Fund AS'i puhasväärtus aktsia kohta (NRV) oli 31.03.2023 seisuga 21,7013 eurot ja EPRA NRV 22,3556 eurot. Nii NRV kui EPRA NAV suurenesid võrreldes veebruariga 0,6%. Marilin Hein Finantsjuht Tel. 6559 515 E-mail: [email protected] (mailto:[email protected])
Content of announcement in English
Title
The net value of EfTEN Real Estate Fund AS shares as of 31.03.2023
Message
AS the end of March, the first full quarter of EfTEN Real Estate Fund AS ended after the merger with EfTEN Kinnisvarafond AS. The fund's consolidated net rental income (NOI) was 7.3 million euros in the first quarter of 2023. Considering investment properties generating rental income, it results with actual net rental yield of 8.0% on an annual basis. During the first quarter of this year, the fund has earned a consolidated rental income of 7.5 million euros (2022: 3.3 million euros) and EBITDA of 6.45 million euros (2022: 2.9 million euros). The consolidated rental income of the first quarter includes the income of investment properties added during the merger in the total amount of 4.0 million euros, which compared to the same period last year in EfTEN Kinnisvarafond AS, has increased by 5.3%. For those investment properties that have been on the fund's balance sheet for at least two consecutive years (Like-for-like), rental income has increased by 4.7% compared to last year. In March, the consolidated rental income of EfTEN Real Estate Fund AS totaled 2,513 thousand euros, i.e. 18 thousand euros more than in February. The fund's consolidated net rental income (NOI) was 2,449 thousand euros in March, i.e. 21 thousand euros more than in February. The fund's EBITDA was 2,148 thousand euros in March, which is 21 thousand euros less than in February. The fund's consolidated cash balance was 25,166 thousand euros as of 31.03.2023, and the cash balance increased by 694 thousand euros in March. In March, the fund's subsidiaries made investments in existing properties totaling 507 thousand euros. The consolidated adjusted cash flow of the fund for the first quarter of 2023 (EBITDA minus interest expenses minus repayments of loan principals minus the income tax expense of Lithuanian companies) was a total of 3.0 million euros (1.5 million euros in the same period last year). Considering the fund's dividend policy, this would make the gross dividend per share 22.25 cents (2022 Q1: 23.68 cents), i.e. 6% less than last year. The potential dividend per share has decreased due to the increase in EURIBOR. The fund's weighted average interest rate is 4.66% as of March 31 of this year. At the end of March last year, the weighted average interest rate on the loans of the fund's subsidiaries was 2.3%. The net asset value per share (NRV) of EfTEN Real Estate Fund AS as of 31.03.2023 was 21.7013 euros and the EPRA NAV was 22.3556 euros. Both NRV and EPRA NAV increased by 0.6% compared to February. Marilin Hein CFO Phone +372 6559 515 E-mail: [email protected]