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
16661
Attachments
Submission date and time
12.11.2024 07:00:29
Content of announcement in Estonian
Title
EfTEN Real Estate Fund AS’i aktsia puhasväärtus seisuga 31.10.2024
Message
EfTEN Real Estate Fund AS teenis oktoobris konsolideeritud üüritulu summas 2 570 tuhat eurot, mis on 19 tuhat eurot rohkem kui septembris. Suurenenud üüritulu on peamiselt seotud uue investeeringu - Härgmäe logistikakeskuse esimese kuu üürituluga. Fondi konsolideeritud EBITDA oli oktoobris 2 155 tuhat eurot, mis on 36 tuhat eurot vähem kui eelmisel kuul. EBITDA vähenemist põhjustasid sügisesed turunduskampaaniad kaubanduskeskustes ja kinnisvaraportfelli aasta lõpu hindamiskulud. Oktoobris sõlmis fondi tütarettevõte EfTEN Härgmäe OÜ logistikakeskuse omandamiseks asjaõiguslepingu, mille käigus tasuti kinnistu eest 8 314 tuhat eurot, lisaks juba septembris makstud 515 tuhande euro suurusele ettemaksule. Omandamine finantseeriti 7 300 tuhande euro suuruse pangalaenu ja kontserni omavahenditega. Investeeringu esmane üüritootlus on 7,6%. Fondi tütarettevõtete pangalaenude kaalutud keskmine intressimäär oli oktoobri lõpus 5,26%, langedes kuuga 0,09 protsendipunkti ja aasta alguse tipust 0,63 protsendipunkti. EfTEN Real Estate Fund AS teenis selle aasta kümne kuuga konsolideeritud üüritulu kokku 25 615 tuhat eurot, mis on 1,2% rohkem kui eelmisel aastal samal perioodil. Fondi kinnisvarainvesteeringute neto üüritulu (NOI) oli 24 717 tuhat eurot, kasvades 0,3% võrreldes eelmise aasta sama perioodiga. Fondi selle aasta kümne kuu EBITDA oli 21 808 tuhat eurot, mis on 0,1% vähem kui eelmisel aastal samal perioodil. 2024. aasta kümne kuuga teenis EfTEN Real Estate Fund AS 8 924 tuhat eurot konsolideeritud vaba rahavoogu (EBITDA, millest on maha arvatud laenumaksed ja intressikulu), mis on 709 tuhat eurot vähem kui eelmisel aastal samal perioodil. Rahavoo vähenemist põhjustas EURIBORi tõus. Fondi kümne kuu tulemustel põhinev potentsiaalne brutodividend on 65,99 senti aktsia kohta, mis on 7,2% vähem kui eelmisel aastal. Fondi juhtkonna eesmärgiks on teha 2025. aasta kevadel aktsionäridele ettepanek maksta fondi 2024. aasta kasumist dividendi 1 euro aktsia kohta. Selline dividendimakse eeldab, et osa madala laenukoormusega tütarettevõtete laenukohustusi refinantseeritakse, mille osas on juhtkond läbirääkimisi juba alustanud. Täpsemad arvutused dividendimakse suuruse kohta tehakse ja avalikustatakse pärast refinantseerimislepingute sõlmimist. EfTEN Real Estate Fund AS-i puhasväärtus aktsia kohta oli 31.10.2024 seisuga 20,2779 eurot ning EPRA NRV 21,0996 eurot. Aktsia puhasväärtus kasvas oktoobris 0,7%. 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 31.10.2024
Message
In October, EfTEN Real Estate Fund AS earned a consolidated rental income of 2,570 thousand euros, an increase of 19 thousand euros compared to September. This increase is primarily attributed to the first month of rental income from the new investment Härgmäe logistics center. The fund's consolidated EBITDA for October was 2,155 thousand euros, which is 36 thousand euros lower than in the previous month. The decrease in EBITDA was mainly due to autumn marketing campaigns in shopping centers and year-end valuation expenses for the investment portfolio. In October, the fund's subsidiary, EfTEN Härgmäe OÜ, entered into a real rights contract to acquire the logistics center, paying 8,314 thousand euros for the property, in addition to the advance payment of 515 thousand euros made in September. The acquisition was financed through a bank loan of 7,300 thousand euros and the fund's own resources. The initial rental yield on the investment is 7.6%. The weighted average interest rate on the fund's subsidiaries' bank loans was 5.26% at the end of October, decreasing by 0.09 percentage points over the month and by 0.63 percentage points from the peak at the beginning of the year. EfTEN Real Estate Fund AS earned a total consolidated rental income of 25,615 thousand euros for the first ten months of this year, increasing by 1.2% compared to the same period last year. The net rental income (NOI) from the fund's investment properties was 24,717 thousand euros, up 0.3% from the same period last year. The fund's EBITDA for the first ten months of this year was 21,808 thousand euros, a decrease of 0.1% compared to the same period last year. During the first ten months of 2024, EfTEN Real Estate Fund AS earned 8,924 thousand euros in consolidated free cash flow (EBITDA minus loan repayments and interest expenses), which is 709 thousand euros less than in the same period last year. The decrease in cash flow was due to the increase in EURIBOR. Based on the ten-month results, the potential gross dividend for the fund is 65.99 cents per share, a decrease of 7.2% compared to last year. The management of the fund aims to propose to shareholders to pay dividends 1 euro per share from the fund's 2024 profit in the spring of 2025. Such a dividend payment requires the refinancing of certain low-leverage subsidiaries' loans, for which the management has already initiated negotiations. Detailed calculations regarding the dividend payment amount will be made and published after the refinancing agreements are finalized. As of 31.10.2024, EfTEN Real Estate Fund AS's net asset value per share was 20.2779 euros, and EPRA NRV was 21.0996 euros. The net asset value per share increased by 0.7% in October. Marilin Hein CFO Phone +372 6559 515 E-mail: [email protected]