Market announcement
EfTEN Real Estate Fund AS
Category
Other corporate action
Attachments
Date
10.05.2024 08:00:00
Title
EfTEN Real Estate Fund AS’i aktsia puhasväärtus seisuga 30.04.2024
Message
EfTEN Real Estate Fund AS teenis aprillis 2 545 tuhat eurot konsolideeritud üüritulu, mis on märtsiga samal tasemel. Fondi konsolideeritud EBITDA oli aprillis 2 175 tuhat eurot, s.o seoses madalamate haldus- ja turustuskuludega 41 tuhat eurot rohkem kui kuu varem. Selle aasta esimese nelja kuu konsolideeritud üüritulu on kokku 10 182 tuhat eurot, s.o 1% rohkem kui eelmisel aastal samal ajal. Fondi nelja kuu EBITDA on sellel aastal 8 636 tuhat eurot, mis on samal tasemel eelmise aasta esimese nelja kuu näitajaga. Fondi kinnisvaraportfelli vakantsus oli aprilli lõpus 3,0% (9 959m2). Olulisim osa vakantsusest on seotud Menulio11 büroohoonega Vilniuses, kus peale ankurüürniku lahkumist I kvartalis jäi vakantseks 3183m2 (56,7% kogu hoone mahust) büroopinda. Vabade pindade efektiivsemaks täitmiseks on kavas ehitada ühel korrusel asuvad pinnad (kokku 630m2) neljaks väiksemaks üüripinnaks, eeldatava investeeringu maksumusega 200 tuhat eurot. Ülejäänud üüripindadega seoses peetakse hetkel aktiivselt läbirääkimisi ning nende investeeringu vajadus täpsustub lähiajal. 2024. aasta nelja kuu jooksul on EfTEN Real Estate Fund AS teeninud 3 394 tuhat eurot vaba rahavoogu (EBITDA miinus laenumaksed miinus intressikulu), mis võrreldes eelmise aasta sama perioodiga on 724 tuhat eurot vähem. Rahavoog on vähenenud peamiselt seoses EURIBORi kasvuga. Fondi selle aasta nelja kuu tulemuste põhjal arvutatud potentsiaalne brutodividend on 25,10 senti aktsia kohta (17% vähem kui eelmisel aastal samal ajal). Fondi tütarettevõtete pangalaenude kaalutud keskmine intressimäär oli aprilli lõpus 5,86%. Fondi laenude keskmine intressimäär on püsinud suhteliselt samal tasemel eelmise aasta sügisest alates. EfTEN Real Estate Fund AS maksis aprillis aktsionäridele dividende 1 euro aktsia kohta kogusummas 10,82 miljonit eurot. Fondi konsolideeritud raha jääk koos lühiajaliste hoiustega on aprilli lõpu seisuga 10,7 miljonit eurot. EfTEN Real Estate Fund AS'i puhasväärtus aktsia kohta oli 30.04.2024 seisuga 19,6691 eurot ja EPRA NRV 20,4661 eurot. Aktsia puhasväärtus langes aprillis 4,4%. Ilma dividende välja kuulutamata oleks aktsia puhasväärtus kasvanud aprillis tavapäraselt 0,6%. Marilin Hein Finantsjuht Tel. 6559 515 E-mail: marilin.hein@eften.ee
Title
The net asset value of EfTEN Real Estate Fund AS shares as of 30.04.2024
Message
EfTEN Real Estate Fund AS earned a consolidated rental income of 2,545 thousand euros in April, which is at the same level as in March. The Fund's consolidated EBITDA for April was 2,175 thousand euros, i.e., 41 thousand euros more than the previous month due to lower administrative and marketing expenses. The total consolidated rental income for the first four months of this year is 10,182 thousand euros, i.e., 1% more than at the same time last year. The Fund's four-month EBITDA this year is 8,636 thousand euros, which is at the same level as the first four months of the previous year. The vacancy rate of the Fund's property portfolio was 3.0% (9,959 m2) at the end of April. The most significant part of the vacancy is related to the Menulio 11 office building in Vilnius, where after the departure of the anchor tenant in q1, 3,183 m2 (56.7% of the total building volume) of office space remained vacant. To more effectively fill the vacant spaces, there is a plan to convert the spaces on one floor (totaling 630 m2) into four smaller rental units with an expected investment cost of 200 thousand euros. Negotiations are currently active regarding the remaining rental spaces, and the respective investment needs will be specified shortly. During the first four months of 2024, EfTEN Real Estate Fund AS earned 3,394 thousand euros in free cash flow (EBITDA minus loan payments minus interest expense), which is 724 thousand euros less compared to the same period last year. The decrease in cash flow is mainly due to the increase in EURIBOR. Based on this year's four-month results, the potential gross dividend calculated is 25.10 cents per share (17% less than at the same time last year). The weighted average interest rate of the Fund's subsidiaries' bank loans was 5.86% at the end of April. The Fund's average loan interest rate has remained relatively the same since last autumn. EfTEN Real Estate Fund AS distributed dividends of 1 euro per share to shareholders in April, totaling 10.82 million euros. The Fund's consolidated cash balance including short-term deposits as of the end of April is 10.7 million euros. As of 30.04.2024, the net asset value per share of EfTEN Real Estate Fund AS was 19.6691 euros and the EPRA NRV was 20.4661 euros. The net asset value per share decreased by 4.4% in April. Without declaring dividends, the net asset value per share would have increased by 0.6% in April. Marilin Hein CFO Phone +372 6559 515 E-mail: marilin.hein@eften.ee