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
10648
Attachments
Submission date and time
11.10.2023 08:00:00
Content of announcement in Estonian
Title
EfTEN Real Estate Fund AS’i aktsia puhasväärtus seisuga 30.09.2023
Message
EfTEN Real Estate Fund AS teenis septembris 2 540 tuhat eurot puhas-üüritulu, mis on 74 tuhat eurot rohkem kui augustis. Fondi üüritulu vähenes 6 tuhande euro võrra 2 544 tuhande euroni peamiselt kaubanduskeskuste käibeüüride vähenemisest. Üüritulu vähenemist kompenseerisid septembris tavapärasest madalamad haldus- ja turustuskulud. Fondi laenude kaalutud keskmine intressimäär oli septembri lõpus 5,83% (augustis 5,68%). Kõiki fondi laene teenindatakse endiselt tavapäraselt ning kõikide kinnisvarainvesteeringute äritegevuse rahavoog ületab igakuised laenu- ja intressimaksed. Tänavuse aasta üheksa kuu jooksul on fond teeninud konsolideeritud üüritulu kokku 22,77 miljonit eurot (2022: 10,0 miljonit eurot) ning EBITDA-d 19,7 miljonit eurot (2022: 8,8 miljonit eurot). Fondi 2023. aasta konsolideeritud EBITDA sisaldab Like-for-Like põhimõttel arvutatud EBITDA-d summas 9,1 miljonit eurot (kasv võrreldes eelmise aastaga 3,1%) ning EfTEN Kinnisvarafond AS-ga ühinemisel lisandunud kinnisvarainvesteeringute EBITDA-d kogusummas 10,6 miljonit eurot (kasv võrreldes EfTEN Kinnisvarafond AS eelmise aasta näitajatega on 3,2%). Selle aasta üheksa kuu jooksul on EfTEN Real Estate Fund AS teeninud investoritele 65,71 senti (eelmisel aastal 72,91 senti) potentsiaalset brutodividendi aktsia kohta. Potentsiaalne brutodividend aktsia kohta on EURIBORi kasvu tulemusel võrreldes eelmise aastaga vähenenud 10%. Fondi selle aasta arvestuslik üheksa kuu brutodividendi suhe septembri lõpu börsihinda on 3,5% (30.09.2022: 3,7%). EfTEN Real Estate Fund AS'i puhasväärtus aktsia kohta oli 30.09.2023 seisuga 20,7563 eurot ja EPRA NRV 21,4413 eurot. Aktsia puhasväärtus kasvas septembris tavapäraselt 0,7%. Oktoobri alguses paigaldati nurgakivi Tartu lähedal Raadil fondi kolmandale vanadekodu investeeringule. Tegu on fondi teise algusest peale spetsiaalselt vanadekoduks arendatava hoonega, mis valmib 2024.a suveks. Hoonesse on planeeritud 120 elukohta ning seda hakkab opereerima Südamekodud AS, kes opereerib ka fondi kahte senist vanadekodu Pirital ja Valklas. Marilin Hein Finantsjuht Tel. 6559 515 E-mail: [email protected]
Content of announcement in English
Title
The net asset value of EfTEN Real Estate Fund AS shares as of 30.09.2023
Message
EfTEN Real Estate Fund AS earned EUR2.540 million in net rental income in September, which is EUR74 thousand more than in August. The fund's gross rental income decreased by EUR6 thousand to EUR2.544 million, primarily due to the decrease in turnover rents from shopping centers. The decreased rental income was compensated by lower-than-usual administrative and marketing expenses in September. As of the end of September, the fund's loans had a weighted average interest rate of 5.83% (5.68% in August). All of the fund's loans continue to be serviced regularly, and the cash flow from the operations of all real estate investments exceeds the monthly loan and interest payments. In the nine months of this year, the fund has earned a consolidated rental income of EUR22.77 million in total (2022: EUR10.0 million) and EBITDA of EUR19.7 million (2022: EUR8.8 million). The consolidated EBITDA of the fund for 2023 includes Like-for-Like EBITDA at EUR9.1 million (a growth of 3.1% compared to the previous year) and EBITDA of EUR10.6 million from real estate investments added through the merger with EfTEN Kinnisvarafond AS (a 3.2% growth compared to the EfTEN Kinnisvarafond AS figures from the previous year). Over the course of the nine months of this year, EfTEN Real Estate Fund AS has earned investors 65.71 cents (last year 72.91 cents) in potential gross dividend per share. The potential gross dividend per share has decreased by 10% compared to the previous year as a result of increasing EURIBOR rates. For the first nine months the fund's gross dividend ratio to the end of September stock price is 3.5% (30.09.2022: 3.7%). As of 30.09.2023, EfTEN Real Estate Fund AS's net asset value per share stood at EUR20.7563, and EPRA NRV was EUR21.4413. The net asset value per share increased by 0.7% in September. At the beginning of October, the cornerstone was laid for the fund's third elderly care home investment near Tartu at Raadi. It is the second property of the fund to be developed specifically as an elderly care home. The construction works are scheduled to be completed by the summer of 2024. Altogether 120 residences are planned for the property and it will be operated by Südamekodud AS, which also operates the fund's two elderly care homes in Pirita and Valkla. Marilin Hein CFO Phone +372 6559 515 E-mail: [email protected]