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
16799
Attachments
Submission date and time
12.12.2024 08:00:30
Content of announcement in Estonian
Title
EfTEN Real Estate Fund AS’i aktsia puhasväärtus seisuga 30.11.2024
Message
EfTEN Real Estate Fund AS teenis novembris konsolideeritud üüritulu summas 2 602 tuhat eurot, mis on 32 tuhat eurot rohkem kui oktoobris. Suurenenud üüritulu on peamiselt seotud uue investeeringu - Härgmäe logistikakeskuse esimese täiskuu üürituluga ning lisaks suurenes üüritulu seoses vakantsuse vähenemisega Evolution büroohoones Vilniuses. Fondi kinnisvaraportfelli vakantsus langes novembris 3,0%-ni (oli oktoobris 3,2%). Fondi konsolideeritud EBITDA oli novembris 2 198 tuhat eurot, mis on seoses stabiilsete üldhalduskuludega ning madalamate reklaamikampaaniakuludega kaubanduskeskustes 43 tuhat eurot rohkem kui eelmisel kuul. Fondi ning tema tütarettevõtete pangalaenude kaalutud keskmine intressimäär oli novembri lõpus 5,15%, mis tähendab 0,11 protsendipunkti langust võrreldes oktoobriga ja 0,73 protsendipunkti langust võrreldes aasta alguse tipptasemega. EfTEN Real Estate Fund AS teenis selle aasta üheteistkümne kuuga konsolideeritud üüritulu kokku 28 217 tuhat eurot, mis on 1,4% rohkem kui eelmisel aastal samal perioodil. Fondi kinnisvarainvesteeringute neto üüritulu (NOI) oli 27 227 tuhat eurot, kasvades 0,6% võrreldes eelmise aasta sama perioodiga. Fondi selle aasta 11 kuu EBITDA oli 24 006 tuhat eurot, mis on 0,2% rohkem kui eelmisel aastal samal perioodil. 2024. aasta üheteistkümne kuuga teenis EfTEN Real Estate Fund AS 9 966 tuhat eurot konsolideeritud vaba rahavoogu (EBITDA, millest on maha arvatud laenumaksed ja intressikulu), mis on 494 tuhat eurot vähem kui eelmisel aastal samal perioodil. EURIBORi mõju on sellel aastal kasvavalt (YtD) endiselt negatiivne (võrreldav intressikulu on sellel aastal ligikaudu 766 tuhat eurot kõrgem kui eelmisel aastal 11 kuu jooksul), kuid kasvanud EBITDA ja pikemad pangalaenude maksegraafikud aitavad EURIBORi negatiivset mõju tasandada ligikaudu 340 tuhande euro ulatuses. Langeva euribori määra terviklik positiivne mõju jõuab laenuportfelli 2025. aasta esimese poolaasta jooksul. EfTEN Real Estate Fund AS-i puhasväärtus aktsia kohta oli 30.11.2024 seisuga 20,411 eurot ning EPRA NRV 21,2391 eurot. Aktsia puhasväärtus kasvas novembris tavapäraselt 0,7%. Marilin Hein Finantsjuht Tel. 6559 515 E-mail: [email protected]
Content of announcement in English
Title
Net Asset Value of EfTEN Real Estate Fund AS Share as of 30 November 2024
Message
In November, EfTEN Real Estate Fund AS earned consolidated rental income of EUR 2,602 thousand, which is EUR 32 thousand more than in October. The increase in rental income is mainly attributable to the first full-month rental income from a new investment - the Härgmäe logistics center. Additionally, rental income increased due to a decreased vacancy at the Evolution office building in Vilnius. The vacancy rate of the fund's investment portfolio fell to 3.0% in November (compared to 3.2% in October). The fund's consolidated EBITDA in November amounted to EUR 2,198 thousand, which is EUR 43 thousand higher than in the previous month. This increase is due to stable general administrative expenses and lower marketing campaign costs in shopping centers. The weighted average interest rate on the bank loans of the fund and its subsidiaries was 5.15% at the end of November, reflecting a 0.11 percentage point decrease compared to October and a 0.73 percentage point decrease compared to the peak at the beginning of the year. During the first eleven months of 2024, EfTEN Real Estate Fund AS generated a total consolidated rental income of EUR 28,217 thousand, representing a 1.4% increase compared to the same period last year. The fund's net rental income (NOI) from real estate investments amounted to EUR 27,227 thousand, reflecting a 0.6% increase compared to the same period last year. The fund's EBITDA for the first eleven months of 2024 totalled EUR 24,006 thousand, which is 0.2% higher than in the same period last year. In the first eleven months of 2024, EfTEN Real Estate Fund AS generated EUR 9,966 thousand of consolidated free cash flow (EBITDA, less loan repayments and interest expenses), which is EUR 494 thousand less than in the same period last year. The impact of EURIBOR has remained negative year-to-date, as comparable interest expenses have been approximately EUR 766 thousand higher in the first 11 months of this year compared to the same period last year. However, the increase in EBITDA and the extension of bank loan repayment schedules have helped to offset the negative impact of EURIBOR by approximately EUR 340 thousand. The full positive impact of the declining EURIBOR rate will be reflected in the loan portfolio during the first half of 2025. The net asset value (NAV) per share of EfTEN Real Estate Fund AS was EUR 20.411 as of 30 November 2024, while the EPRA NRV was EUR 21.2391. The NAV per share increased by 0.7% in November, reflecting the fund's usual growth trend. Marilin Hein Chief Financial Officer Tel. 6559 515 E-mail: [email protected]