Market announcement
EfTEN United Property Fund / EFTEN Capital AS
LEI code
984500E070A0V4E8CO64
Size of the entity
Small group
Economic activities
Financial and Insurance Activities
Industry sector(s)
Management company
Country of registered office
Estonia
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
10315
Submission date and time
04.05.2023 08:15:00
Content of announcement in Estonian
Title
EfTEN United Property Fund 2023. aasta I kvartali auditeerimata majandustulemused
Message
EfTEN United Property Fund teenis 2023. aasta I kvartalis 34 tuhat eurot
puhaskahjumit (2022 I kvartal: 121 tuhat eurot puhaskasumit). Kahjum tuleneb
muudatusest investeeringute hindamispõhimõtetes - EfTEN Kinnisvarafondi AS-i
ühinemise järgselt börsil noteeritud fondiga EfTEN Real Estate Fund III AS,
kajastatakse ühendfondi EfTEN Real Estate Fund AS aktsiate väärtus börsihinna
järgi (varasemalt kajastati väärtus aktsia bilansilise puhasväärtuse järgi).
Eelneva hindamismeetodi kasutamisel oleks EfTEN United Property Fund teeninud I
kvartalis 270 tuhat eurot puhaskasumit.
EfTEN United Property Fund varade maht oli 2023.a I kvartali lõpu seisuga
26 855 tuhat eurot (31.12.2022: 27 472 tuhat eurot), millest märtsi lõpu seisuga
72% moodustavad pikaajalised investeeringud (31.12.2022: 67%).
2023. aasta I kvartalis tegi EfTEN United Property Fund investoritele väljamakse
summas 584 tuhat eurot ehk 23,495 senti ühe osaku kohta. Väljamakse aluseks oli
usaldusfondi EfTEN Real Estate Fund 5 poolt EfTEN United Property Fund'le
makstud kapitali tagastus seoses Vilniuse endise Danske büroohoone laenu
refinantseerimisega. Bilansipäeva järgselt kuulutas fond välja 2023. aasta teise
rahalise väljamakse summas 452 tuhat eurot ehk 18,179 senti ühe osaku kohta.
Seega teeb fond 2023. aasta I poolaastal investoritele väljamakseid kokku
ligikaudu 4,5% fondi osaku turuhinnast.
2023. aasta I kvartalis EfTEN United Property Fund uusi investeeringuid ei
teinud. Fond suurendas Uus-Järveküla arenduse rahastamiseks antud laenu
ligikaudu miljoni euro võrra. See on seotud arenduse osade infrastruktuuri tööde
ajas ettepoole toomisega. Koos Uus-Järveküla OÜ poolt bilansipäeva järgselt
võetud pangalaenuga on arenduse esimese etapi kodude ja infrastruktuuri ning
osaliselt ka järgnevate etappide infrastruktuuri arendus rahastatud.
Koondkasumiaruanne
+----------+
|I kvartal |
+-----+----+
|2023 |2022|
+-------------------------------------------------------------------+-----+----+
|EUR tuhandetes | | |
+-------------------------------------------------------------------+-----+----+
|Tulud | | |
+-------------------------------------------------------------------+-----+----+
|Intressitulu | 106| 61|
+-------------------------------------------------------------------+-----+----+
|Dividenditulud | 23| 0|
+-------------------------------------------------------------------+-----+----+
|Neto kasum / kahjum õiglases väärtuses muutusega läbi | | |
|koondkasumiaruande kajastatud varadelt | -73| 95|
+-------------------------------------------------------------------+-----+----+
| Tütarettevõtetelt | 28| -21|
+-------------------------------------------------------------------+-----+----+
| Alusfondidelt | -101| 115|
+-------------------------------------------------------------------+-----+----+
|Tulud kokku | 56| 156|
+-------------------------------------------------------------------+-----+----+
| | | |
+-------------------------------------------------------------------+-----+----+
|Kulud | | |
+-------------------------------------------------------------------+-----+----+
|Tegevuskulud | | |
+-------------------------------------------------------------------+-----+----+
|Valitsemistasud | -27| -17|
+-------------------------------------------------------------------+-----+----+
|Fondi administreerimise kulud | -63| -8|
+-------------------------------------------------------------------+-----+----+
|Muud tegevuskulud | 0| -11|
+-------------------------------------------------------------------+-----+----+
|Tegevuskulud kokku | -90| -35|
+-------------------------------------------------------------------+-----+----+
| | | |
+-------------------------------------------------------------------+-----+----+
|Ärikasum | -34| 121|
+-------------------------------------------------------------------+-----+----+
|ARUANDEAASTA KOONDKASUM KOKKU | -34| 121|
+-------------------------------------------------------------------+-----+----+
| | | |
+-------------------------------------------------------------------+-----+----+
|Tava- ja lahustatud kasum / -kahjum osaku kohta (eurodes) |-0,01|0,07|
+-------------------------------------------------------------------+-----+----+
Finantsseisundi aruanne
+----------+----------+
|31.03.2023|31.03.2022|
+--------------------------------------------------------+----------+----------+
|EUR tuhandetes | | |
+--------------------------------------------------------+----------+----------+
|VARAD | | |
+--------------------------------------------------------+----------+----------+
|Käibevarad | | |
+--------------------------------------------------------+----------+----------+
|Raha ja raha ekvivalendid | 5 306| 8 769|
+--------------------------------------------------------+----------+----------+
|Muud nõuded ja viitlaekumised | 489| 385|
+--------------------------------------------------------+----------+----------+
|Käibevarad kokku | 5 795| 9 154|
+--------------------------------------------------------+----------+----------+
| | | |
+--------------------------------------------------------+----------+----------+
|Põhivarad | | |
+--------------------------------------------------------+----------+----------+
|Finantsvarad õiglases väärtuses muutusega läbi tulude ja| | |
|kulude aruande | 12 870| 12 942|
+--------------------------------------------------------+----------+----------+
| Tütarettevõtted | 1 180| 1 152|
+--------------------------------------------------------+----------+----------+
| Kinnisvarafondid | 11 690| 11 790|
+--------------------------------------------------------+----------+----------+
|Antud laenud | 6 395| 5 376|
+--------------------------------------------------------+----------+----------+
|Pikaajaline nõue | 1 795| 0|
+--------------------------------------------------------+----------+----------+
|Põhivarad kokku | 21 060| 18 318|
+--------------------------------------------------------+----------+----------+
|VARAD KOKKU | 26 855| 27 472|
+--------------------------------------------------------+----------+----------+
| | | |
+--------------------------------------------------------+----------+----------+
|KOHUSTUSED | | |
+--------------------------------------------------------+----------+----------+
|Lühiajalised kohustused | 2| 586|
+--------------------------------------------------------+----------+----------+
|Kohustused kokku, v.a osakuomanikele kuuluv fondi vara | | |
|puhasväärtus | 2| 586|
+--------------------------------------------------------+----------+----------+
| | | |
+--------------------------------------------------------+----------+----------+
|FONDI VARA PUHASVÄÄRTUS | | |
+--------------------------------------------------------+----------+----------+
|Osakuomanikele kuuluv fondi vara puhasväärtus | 26 853| 26 886|
+--------------------------------------------------------+----------+----------+
|Kohustused ja osakuomanikele kuuluv fondi vara | | |
|puhasväärtus kokku | 26 855| 27 472|
+--------------------------------------------------------+----------+----------+
EfTEN United Property Fund 2023. aasta I kvartali auditeerimata
majandustulemused on leitavad fondi kodulehel:
https://eftenunitedpropertyfund.ee/aruanded-ja-dokumendid/
Kristjan Tamla
Tegevjuht
Tel: 655 9515
E-post: [email protected] (mailto:[email protected])
Content of announcement in English
Title
EfTEN United Property Fund unaudited financial results for 1st quarter of 2023
Message
EfTEN United Property Fund earned a net loss of 34 thousand euros in the first
quarter of 2023 (2022 first quarter: 121 thousand euros of net profit). The loss
results from a change in investment valuation principles - following the merger
of EfTEN Kinnisvarafond AS with the listed fund EfTEN Real Estate Fund III AS,
the value of the shares of the joint fund EfTEN Real Estate Fund AS is recorded
according to the stock market price (previously, the value was recorded
according to the net asset value of the share). If the previous valuation method
was used, EfTEN United Property Fund would have made a profit of 270 thousand
euros in the 1st quarter.
As of the end of the first quarter of 2023, the volume of assets of EfTEN United
Property Fund was 26,855 thousand euros (31.12.2022: 27,472 thousand euros), of
which 72% are long-term investments as of the end of March (31.12.2022: 67%).
In the first quarter of 2023, EfTEN United Property Fund made a distribution to
investors in the amount of 584 thousand euros, or 23.495 cents per unit. The
distribution was based on the return of capital paid by the limited partnership
fund of EfTEN Real Estate Fund 5 to EfTEN United Property Fund in connection
with the refinancing of the loan of the former Danske office building in
Vilnius. After the balance sheet date, the fund announced the second income
distribution for 2023 in the amount of 452 thousand euros or 18.179 cents per
unit. Thus, in the first half of 2023, the fund will pay out to investors a
total of approximately 4.5% of the market price of the fund's unit.
In the first quarter of 2023, EfTEN United Property Fund did not make any new
investments. The fund increased the loan granted to finance the residential
development at Uus-Järveküla by approximately one million euros. This was
related to infrastructure construction works at Uus-Järveküla development which
are being carried out earlier than previously planned. Together with the bank
loan taken by Uus-Järveküla OÜ after the balance sheet date, the development of
the homes and infrastructure of the first stage of the development, and
partially also the infrastructure of the subsequent stages, has been fully
financed.
Statement of the comprehensive income
+----------+
| q1 |
+-----+----+
|2023 |2022|
+-------------------------------------------------------------------+-----+----+
|EUR thousand | | |
+-------------------------------------------------------------------+-----+----+
|Income | | |
+-------------------------------------------------------------------+-----+----+
|Interest income | 106| 61|
+-------------------------------------------------------------------+-----+----+
|Dividend income | 23| 0|
+-------------------------------------------------------------------+-----+----+
|Net profit / loss from assets recognised in fair value through | | |
|profit or loss | -73| 95|
+-------------------------------------------------------------------+-----+----+
| Investments in subsidiaries | 28| -21|
+-------------------------------------------------------------------+-----+----+
| Underlying Funds | -101| 115|
+-------------------------------------------------------------------+-----+----+
|Total income | 56| 156|
+-------------------------------------------------------------------+-----+----+
| | | |
+-------------------------------------------------------------------+-----+----+
|Costs | | |
+-------------------------------------------------------------------+-----+----+
|Operating expenses | | |
+-------------------------------------------------------------------+-----+----+
|Management fee | -27| -17|
+-------------------------------------------------------------------+-----+----+
|Costs of administering the Fund | -63| -8|
+-------------------------------------------------------------------+-----+----+
|Other operating expenses | 0| -11|
+-------------------------------------------------------------------+-----+----+
|Total operating expenses | -90| -35|
+-------------------------------------------------------------------+-----+----+
| | | |
+-------------------------------------------------------------------+-----+----+
|Operating profit | -34| 121|
+-------------------------------------------------------------------+-----+----+
|TOTAL CONSOLIDATED PROFIT FOR THE REPORTING YEAR | -34| 121|
+-------------------------------------------------------------------+-----+----+
| | | |
+-------------------------------------------------------------------+-----+----+
|Ordinary and diluted profit / loss per share (EUR) |-0,01|0,07|
+-------------------------------------------------------------------+-----+----+
Statement of financial position
+----------+----------+
|31.03.2023|31.03.2022|
+--------------------------------------------------------+----------+----------+
|EUR thousand | | |
+--------------------------------------------------------+----------+----------+
|ASSETS | | |
+--------------------------------------------------------+----------+----------+
|Current assets | | |
+--------------------------------------------------------+----------+----------+
|Cash and cash equivalents | 5 306| 8 769|
+--------------------------------------------------------+----------+----------+
|Other receivables and accrued income | 489| 385|
+--------------------------------------------------------+----------+----------+
|Total current assets | 5 795| 9 154|
+--------------------------------------------------------+----------+----------+
| | | |
+--------------------------------------------------------+----------+----------+
|Non- current assets | | |
+--------------------------------------------------------+----------+----------+
|Financial assets at fair value through profit or loss | 12 870| 12 942|
+--------------------------------------------------------+----------+----------+
| Investments in subsidiaries | 1 180| 1 152|
+--------------------------------------------------------+----------+----------+
| Investment Funds | 11 690| 11 790|
+--------------------------------------------------------+----------+----------+
|Loans granted | 6 395| 5 376|
+--------------------------------------------------------+----------+----------+
|Long-term receivable | 1 795| 0|
+--------------------------------------------------------+----------+----------+
|Total non-current assets | 21 060| 18 318|
+--------------------------------------------------------+----------+----------+
|TOTAL ASSETS | 26 855| 27 472|
+--------------------------------------------------------+----------+----------+
| | | |
+--------------------------------------------------------+----------+----------+
|LIABILITIES | | |
+--------------------------------------------------------+----------+----------+
|Current liabilities | 2| 586|
+--------------------------------------------------------+----------+----------+
|Total liabilities, excluding net asset value of the Fund| | |
|attributable to shareholders | 2| 586|
+--------------------------------------------------------+----------+----------+
| | | |
+--------------------------------------------------------+----------+----------+
|NET ASSET VALUE OF THE FUND | | |
+--------------------------------------------------------+----------+----------+
|Net asset value of the Fund attributable to shareholders| 26 853| 26 886|
+--------------------------------------------------------+----------+----------+
|Total liabilities and net asset value of the Fund | | |
|attributable to shareholders | 26 855| 27 472|
+--------------------------------------------------------+----------+----------+
The unaudited 1(st) quarter 2023 report of the EfTEN United Property Fund can be
found on the fund's website: https://eftenunitedpropertyfund.ee/en/reports-
documents/
Kristjan Tamla
Managing Director
Phone 655 9515
E-mail: [email protected] (mailto:[email protected])