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
16509
Attachments
Submission date and time
10.10.2024 08:00:28
Content of announcement in Estonian
Title
EfTEN Real Estate Fund AS’i aktsia puhasväärtus seisuga 30.09.2024
Message
EfTEN Real Estate Fund AS'i tütarettevõte EfTEN Tähesaju tee OÜ müüs septembris talle kuulunud kinnistu aadressil Tähesaju tee 5, Tallinn. Kinnistu müüdi hinnaga 4 675 tuhat eurot, mis on 452 tuhat eurot alla bilansilise maksumuse. Müügist laekus fondile peale pangalaenude tagastamist 1,9 miljonit eurot. Müügist laekunud raha investeeris fond ettemaksuna Tallinnas aadressidel Härgmäe tn 8 /Piimamehe tn 7 ning Paemurru tee 3 asuvate logistikakeskuste soetamisse. EfTEN Real Estate Fund AS teenis septembris 2 551 tuhat eurot konsolideeritud üüritulu, mis on augustiga võrreldes 26 tuhat eurot vähem. Väiksem üüritulu on peamiselt seotud Tähesaju kinnistu müügiga. Fondi konsolideeritud EBITDA oli septembris 2 191 tuhat eurot, mis on 26 tuhat eurot rohkem kui kuu varem. EfTEN Real Estate Fund AS'i selle aasta üheksa kuu konsolideeritud üüritulu on kokku 23 045 tuhat eurot, s.o 1,2% rohkem kui eelmisel aastal samal ajal. Fondi kinnisvarainvesteeringud on üheksa kuuga teeninud 22 252 tuhat eurot puhast üüritulu (NOI), mis on 0,2% rohkem kui eelmisel aastal samal ajal. Fondi selle aasta üheksa kuu EBITDA on sellel aastal 19 653 tuhat eurot, mis on 0,2% vähem kui eelmisel aastal samal ajal. 2024. aasta üheksa kuu jooksul on EfTEN Real Estate Fund AS teeninud 8 006 tuhat eurot konsolideeritud vaba rahavoogu (EBITDA miinus laenumaksed miinus intressikulu), mis võrreldes eelmise aasta sama perioodiga on 897 tuhat eurot vähem. Rahavoog on vähenenud EURIBORi kasvust tulenevalt. Fondi selle aasta üheksa kuu tulemuste põhjal arvutatud potentsiaalne brutodividend on 59,19 senti aktsia kohta (9,9% vähem kui eelmisel aastal samal ajal). Seoses aktiivse pangandusturuga näeb fondi juhtkond võimalust dividendimakset 2025. aasta kevadel suurendada läbi osaliste pangalaenude refinantseerimiste. Fondi tütarettevõtete pangalaenude kaalutud keskmine intressimäär oli septembri lõpus 5,35%, alanedes kuuga 0,18 protsendipunkti ning võrreldes aasta alguses saavutatud tipuga 0,56 protsendipunkti võrra. EfTEN Real Estate Fund AS’i puhasväärtus aktsia kohta oli 30.09.2024 seisuga 20,1467 eurot ja EPRA NRV 20,9623 eurot. Aktsia puhasväärtus kasvas septembris 0,5%. Ilma Tähesaju kinnistu müügiga seonduvat erakorralist kahjumit arvestamata, oleks fondi aktsia puhasväärtus kasvanud septembris 0,7%. Marilin Hein Finantsjuht Tel. 6559 515 E-mail: [email protected] Manus EREF_reports_monthly_09.2024
Content of announcement in English
Title
The net asset value of EfTEN Real Estate Fund AS shares as of 30.09.2024
Message
EfTEN Real Estate Fund AS’s subsidiary, EfTEN Tähesaju tee OÜ, sold its property located at Tähesaju road 5, Tallinn in September. The property was sold for 4,675 thousand euros, which is 452 thousand euros below its book value. The sale generated 1.9 million euros in cash proceeds after loan repayments. The fund invested the proceeds from the sale into advance payments for logistics centers located at Härgmäe Str. 8 / Piimamehe Str. 7 and Paemurru road 3 in Tallinn. EfTEN Real Estate Fund AS generated consolidated rental income of 2,551 thousand euros in September, which is 26 thousand euros less compared to August. The decrease in rental income is primarily due to the sale of the Tähesaju property. The fund’s consolidated EBITDA for September was 2,191 thousand euros, an increase of 26 thousand euros from the previous month. For the first nine months of this year, the consolidated rental income of EfTEN Real Estate Fund was 23,045 thousand euros, reflecting a 1.2% increase compared to the same period last year. The fund's investment properties generated net operating income (NOI) of 22,252 thousand euros over nine months, up by 0.2% from the same period last year. The fund’s EBITDA for the first nine months of this year totalled 19,653 thousand euros, which is 0.2% lower than the previous year. During the nine-month period of 2024, EfTEN Real Estate Fund AS earned 8,006 thousand euros consolidated free cash flow (EBITDA minus loan repayments minus interest expenses), which is 897 thousand euros less than in the same period last year. The decrease in cash flow is related to the increased EURIBOR. Based on the results for the first nine months of the year, the potential gross dividend is 59.19 cents per share, representing a 9.9% decrease from the previous year. Due to an active banking market, the fund's management sees an opportunity to increase the dividend payment in the spring of 2025 through partial refinancing of bank loans. The weighted average interest rate on the fund’s subsidiaries’ bank loans was 5.35% at the end of September, a decrease of 0.18 percentage points from the previous month and 0.56 percentage points from the EURIBOR peak at the beginning of the year. The net asset value per share of EfTEN Real Estate Fund AS as of September 30, 2024, was 20.1467 euros, and EPRA NRV of 20.9623 euros. The net asset value per share increased by 0.5% in September. Excluding the extraordinary loss from the sale of the Tähesaju property, the fund's net asset value per share would have increased by 0.7% in September. Marilin Hein CFO Phone +372 6559 515 E-mail: [email protected] Attachment EREF_reports_monthly_09.2024