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 price sensitive information
Unique data record identifier
10339
Attachments
Submission date and time
11.05.2023 08:00:00
Content of announcement in Estonian
Title
EfTEN Real Estate Fund AS’i aktsia puhasväärtus seisuga 30.04.2023
Message
EfTEN Real Estate Fund AS'i konsolideeritud üüritulu oli aprillis kokku 2 542 tuhat eurot, s.o 29 tuhat eurot rohkem kui märtsis. Üüritulu kasvas seoses üüri indekseerimistega kolmes Läti kinnisvarainvesteeringus 8%-21%. Fondi konsolideeritud EBITDA oli aprillis 2 181 tuhat eurot, s.o 33 tuhat eurot rohkem kui märtsis. Intressikulud kasvasid aprillis 629 tuhande euroni (63 tuhande euro võrra). Intressikulude tavapäraselt suurem kasv oli seotud intressiswapi lepingu lõppemisega Saules Miestas kaubanduskeskust omavas tütarettevõttes, kus EURIBOR oli fikseeritud 0,35% määras. Fondi laenude kaalutud keskmine intressimäär oli aprillis 4,94% (märtsis 4,66%). Kõiki fondi laene teenindatakse tavapäraselt ning kõikide kinnisvarainvesteeringute äritegevuse rahavoog ületab igakuised laenumaksed. Tänavuse aasta nelja kuu jooksul on fond teeninud konsolideeritud üüritulu kokku 10,05 miljonit eurot (2022: 4,39 miljonit eurot) ning EBITDA-d 8,63 miljonit eurot (2022: 3,87 miljonit eurot). Tänavuse aasta konsolideeritud üüritulu sisaldab ühinemisel lisandunud kinnisvarainvesteeringute üüritulu kogusummas 5,39 miljonit eurot, mis võrreldes EfTEN Kinnisvarafond AS eelmise aasta sama perioodiga on kasvanud 5,7%. Nende kinnisvarainvesteeringute osas, mis on fondi bilansis olnud vähemalt kahel järjestikusel aastal (Like-for-like), on üüritulu võrreldes eelmise aastaga suurenenud 4,7%. Selle aasta nelja kuu jooksul on EfTEN Real Estate Fund AS teeninud investoritele 30,34 senti (eelmisel aastal 32,93 senti) potentsiaalset brutodividendi aktsia kohta. Potentsiaalne brutodividend aktsia kohta on võrreldes eelmise aastaga peamiselt seoses EURIBORi kasvuga vähenenud 7,9%. Fondi konsolideeritud raha jääk oli 30.04.2023 seisuga 28 227 tuhat eurot ning raha jääk suurenes aprillis 3 061 tuhande euro võrra. Aprillis suurendasid fondi kaks tütarettevõtet oma pangalaene 1 miljoni euro võrra (kokku 2 miljonit eurot), mille arvelt suurendas fond maikuus makstavaid dividende. Pärast dividendimakseid (s.h dividendide tulumaks) on fondi konsolideeritud raha jääk 14 miljonit eurot. EfTEN Real Estate Fund AS'i puhasväärtus aktsia kohta oli 30.04.2023 seisuga 20,6451 eurot ja EPRA NRV 21,3114 eurot. Aktsia puhasväärtus langes seoses dividendide väljakuulutamisega 4,9%. Ilma dividende välja kuulutamata oleks puhasväärtus aprillis kasvanud tavapäraselt 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 30.04.2023
Message
The consolidated rental income of EfTEN Real Estate Fund AS was 2,542 thousand euros in April, i.e. 29 thousand euros more than in March. Rental income increased due to rent indexation in three Latvian investment properties (by 8%-21%. The fund's consolidated EBITDA was 2,181 thousand euros in April, i.e. 33 thousand euros more than in March. Interest expenses increased to 629 thousand euros in April (by 63 thousand euros). The higher than usual increase in interest expenses was related to the termination of the interest rate swap agreement in the subsidiary that owns the shopping center in Saules Miestas, where EURIBOR was fixed at 0.35% until 31.03.2023. The weighted average interest rate of the fund's loans was 4.94% in April (4.66% in March). All the fund's loans are serviced as usual, and the operating cash flow exceeds the monthly loan and interest payments in all properties. During the four months of this year, the fund has earned a consolidated rental income of 10.05 million euros (2022: 4.39 million euros) and EBITDA of 8.63 million euros (2022: 3.87 million euros). The consolidated rental income includes income from investment properties added during the merger in the total amount of 5.39 million euros, which compared to the same period last year in EfTEN Kinnisvarafond AS has increased by 5.7%. Regarding those properties that have been on the fund's balance sheet for at least two consecutive years (like- for-like), the rental income has increased by 4.7% compared to last year. During the four months of this year, EfTEN Real Estate Fund AS has earned 30.34 cents (previous year: 32.93 cents) of potential gross dividend per share for investors. The potential gross dividend per share has decreased by 7.9% compared to last year, mainly due to the increase of EURIBOR. The fund's consolidated cash balance was 28,227 thousand euros as of 04/30/2023, and the cash balance increased by 3,061 thousand euros in April. In April, two of the fund's subsidiaries increased their bank loans by 1 million euros (2 million euros in total), which will be used for the fund's increased dividend distribution in May. After dividend distribution (including dividend income tax), the fund's consolidated cash balance is 14 million euros. As of 30.04.2023, the net asset value per share of EfTEN Real Estate Fund AS was 20.6451 euros and the EPRA NRV was 21.3114 euros. The NAV per share fell by 4.9% due to the announcement of dividends. Without the dividend announcement, the NAV would have increased by the usual 0.6% in April. Marilin Hein CFO Phone +372 6559 515 E-mail: [email protected] (mailto:[email protected])