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
10591
Attachments
Submission date and time
11.09.2023 08:00:00
Content of announcement in Estonian
Title
EfTEN Real Estate Fund AS’i aktsia puhasväärtus seisuga 31.08.2023
Message
EfTEN Real Estate Fund AS teenis augustis 2 549 tuhat eurot üüritulu, mis on 17 tuhat eurot rohkem kui juulis. Üüritulu kasv tuli peamiselt Valkla hooldekodu üürihinna muutusest seoses teise etapi valmimisega. Fondi EBITDA oli augustis kokku 2 200 tuhat eurot, s.o 17 tuhat eurot vähem kui juulis peamiselt seoses augustis toimunud kaubanduskeskuste koolialguse turunduskampaaniate ja veidi kõrgemate halduskuludega. Fondi laenude kaalutud keskmine intressimäär oli augusti lõpus 5,68% (juulis 5,53%). Kõiki fondi laene teenindatakse endiselt tavapäraselt ning kõikide kinnisvarainvesteeringute äritegevuse rahavoog ületab igakuised laenu- ja intressimaksed. Tänavuse aasta kaheksa kuu jooksul on fond teeninud konsolideeritud üüritulu kokku 20,2 miljonit eurot (2022: 8,9 miljonit eurot) ning EBITDA-d 17,4 miljonit eurot (2022: 7,8 miljonit eurot). Fondi 2023. aasta konsolideeritud EBITDA sisaldab Like-for-Like põhimõttel arvutatud EBITDA-d summas 8,1 miljonit eurot (kasv võrreldes eelmise aastaga 3,0%) ning EfTEN Kinnisvarafond AS-ga ühinemisel lisandunud kinnisvarainvesteeringute EBITDA-d kogusummas 9,4 miljonit eurot (kasv võrreldes EfTEN Kinnisvarafondi eelmise aasta näitajatega on 3,4%). Selle aasta kaheksa kuu jooksul on EfTEN Real Estate Fund AS teeninud investoritele 57,78 senti (eelmisel aastal 64,68 senti) potentsiaalset brutodividendi aktsia kohta. Potentsiaalne brutodividend aktsia kohta on EURIBORi kasvu tulemusel võrreldes eelmise aastaga vähenenud 10,7%. Fondi selle aasta arvestuslik kaheksa kuu brutodividendi suhe börsihinda on samal tasemel, mis eelmisel aastal (3,2%). Fondi konsolideeritud raha jääk oli 31.08.2023 seisuga 14 015 tuhat eurot ning raha jääk suurenes augustis 808 tuhande euro võrra. EfTEN Real Estate Fund AS'i puhasväärtus aktsia kohta oli 31.08.2023 seisuga 20,6176 eurot ja EPRA NRV 21,2965 eurot. Aktsia puhasväärtus kasvas augustis tavapäraselt 0,7%. Marilin Hein Finantsjuht Tel. 6559 515 E-mail: [email protected] (mailto:[email protected])
Content of announcement in English
Title
The net asset value of EfTEN Real Estate Fund AS shares as of 31.08.2023
Message
EfTEN Real Estate Fund AS generated rental income of EUR2,549 thousand in August 2023, an increase of EUR17 thousand compared to July 2023. The primary contributor to this increase was an adjustment in the rental rate for Valkla Elderly Home, linked to the completion of its second phase. The Fund's EBITDA was EUR2,200 thousand for August, representing a decrease of EUR17 thousand from July, largely due to back-to-school marketing campaigns at shopping centers and slightly higher property management expenses. The weighted average interest rate on the Fund's loan portfolio was 5.68% as of the end of August, compared to 5.53% in July. The Fund continues to service all loans in compliance with terms, and the cash flow from all real estate investments comfortably covers the monthly loan and interest payments. Year-to-date for the eight months ending August 2023, the Fund's consolidated rental income is EUR20.2 million (2022: EUR8,9 million) and EBITDA s EUR17.4 million (2022: EUR7.8 million). The 2023 consolidated EBITDA includes Like-for-Like EBITDA of EUR8.1 million, marking a year-over-year growth of 3.0%, and an additional EUR9.4 million from the merger with EfTEN Kinnisvarafond AS, representing a 3.4% increase over the prior year. For the first eight months of 2023, EfTEN Real Estate Fund AS has generated a potential gross dividend of EUR0.5778 per share, compared to EUR0.6468 per share for the same period in 2022, reflecting a decline of 10.7% primarily due to the uptick in EURIBOR rates. The estimated gross dividend yield for the current year-to-date period remains unchanged from a year-ago level at 3.2%. As of August 31, 2023, the Fund's consolidated cash balance was EUR14,015 thousand, an increase of EUR808 thousand from the previous month. The Net Asset Value (NAV) per share of EfTEN Real Estate Fund AS was EUR20.6176, and the EPRA NRV (Net Reinstatement Value) stood at EUR21.2965 as of August 31, 2023. The NAV per share experienced a standard monthly increase of 0.7% in August. Marilin Hein CFO Phone +372 6559 515 E-mail: [email protected] (mailto:[email protected])