Market announcement
EfTEN United Property Fund / EFTEN Capital AS
LEI code
984500E070A0V4E8CO64
Size of the entity
Small group
Economic activities
Financial and Insurance Activities
Industry sector(s)
Management company
Country of registered office
Estonia
General information
Categories
Management interim statement or quarterly financial report
Unique data record identifier
17103
Attachments
Submission date and time
17.03.2025 08:42:55
Content of announcement in Estonian
Title
EfTEN United Property Fund osaku puhasväärtus seisuga 28.02.2025
Message
EfTEN United Property Fund osaku puhasväärtus (NAV) oli veebruari lõpus 11,27 eurot, kasvades kuuga 0,4%. Fond teenis veebruaris 117 tuhat eurot puhaskasumit ning selle aasta kahe esimese kuuga 525 tuhat eurot puhaskasumit (eelmisel aastal samal ajal 113 tuhat eurot). Veebruaris mõjutas EfTEN United Property Fund'i puhaskasumit negatiivselt investeering EfTEN Real Estate Fund AS aktsiatesse, mille hind sulgus börsil veebruari lõpus võrreldes eelneva kuu lõpuga 0,3% madalamal tasemel. Kui fondi investeeringut EfTEN Real Estate Fund AS'i aktsiasse kajastada selle raamatupidamisliku puhasväärtuse alusel, oleks EfTEN United Property Fund'i NAV 11,33 eurot, kasvades kuuga 0,5%. EfTEN Real Estate Fund'i aktsiate väärtuse langust aitasid tasakaalustada EfTEN Kinnisvarafond II AS'i head tulemused. EfTEN Kinnisvarafond II AS müüs veebruaris oma Leedu tütarettevõtte, millele kuulus logistikahoone Kaunases. Tütarettevõtte müügihinna aluseks olnud kinnisvarainvesteeringu väärtus oli 4% kõrgem selle bilansilisest väärtusest. Selle tulemusena kasvas EfTEN Kinnisvarafond II AS'i aktsia puhasväärtus kuuga 1% võrra. Fondi suurima investeeringu, usaldusfond EfTEN Real Estate Fund 5, puhasväärtus kasvas veebruaris 0,6%. Enim toetas kasvu eelmise aasta detsembris tehtud investeering Kristiine kaubanduskeskusesse. Veebruari lõpu seisuga ei olnud keskuses vakantseid üüripindu ning keskust omava ettevõtte EfTEN Kristiine OÜ omakapitali väärtus kasvas veebruaris 1,1%. Fondi arendusinvesteeringus Uus-Järveküla elurajoonis anti klientidele veebruaris üle (sõlmiti asjaõiguslepingud) 8 teise ehitusetapi rida- ja paarismaja osa. Arendusettevõtte Uus-Järveküla OÜ kuiseks käibeks kujunes 2,27 miljonit eurot ning kasumiks 236 tuhat eurot. Kuivõrd EfTEN United Property Fund hindab kõiki omakapitaliinvesteeringuid õiglases väärtuses, on Uus-Järveküla arendusprojekti veebruaris teenitud kasum fondi bilansis kajastatud eelnevatel perioodidel. Teises ehitusetapis on kokku valminud 30 rida- ja paarismaja osa. Nendest enamik antakse üle märtsis ning väiksem osa aprillis. Veebruaris lõppes fondi 4%-lise intressimääraga tähtajaline deposiit summas 120 tuhat eurot. Laekunud summade arvel vähendas fond detsembris võetud arvelduskrediidi jääki, millega osaliselt rahastati investeeringut Kristiine keskusesse. Veebruari lõpus oli arvelduskrediidi jääk 282 tuhat eurot. Täpsem ülevaade EfTEN United Property Fund'i portfellist on leitav fondi kodulehel: https://eftenunitedpropertyfund.ee/fondi-tulemused/ Kristjan Tamla Tegevjuht Tel: 655 9515 E-post: [email protected] (mailto:[email protected])
Content of announcement in English
Title
Net asset value of the EfTEN United Property Fund as of 28.02.2025
Message
The net asset value (NAV) per unit of EfTEN United Property Fund was 11,27 euros at the end of February, up 0,4% in the month. The fund earned 117 thousand euros in net profit in February and 525 thousand euros in net profit in the first two months of the year (113 thousand euros at the same time last year). In February, EfTEN United Property Fund's profit was negatively affected by an investment in EfTEN Real Estate Fund AS shares, which closed on the stock exchange in February at 0,3% lower than at the end of the previous month. If the fund's investment in EfTEN Real Estate Fund AS shares were recorded on the basis of its net asset value, EfTEN United Property Fund's NAV would be 11,33 euros, up 0,5% in the month. The decline in EfTEN Real Estate Fund's share price was primarily offset by the results of the EfTEN Kinnisvarafond II AS. In February, the EfTEN Kinnisvarafond II AS sold its Lithuanian subsidiary, which owned a logistics building in Kaunas. The value of the real estate investment that formed the basis for the sale price of the subsidiary was 4% higher than its book value. As a result, the net asset value of EfTEN Kinnisvarafond II AS shares increased by 1% in the month. The net asset value of the fund's largest investment EfTEN Real Estate Fund 5, increased by 0.6% in February. The growth was mostly supported by the investment in the Kristiine shopping center, which was made in December 2024. As of the end of February the center had no vacancies, and the equity value of the company owning the centre, EfTEN Kristiine OÜ, increased by 1.1% in the month. In the fund's development investment in the Uus-Järveküla residential area, 8 terraced and semi-detached houses in the second development phase were handed over to customers in February (real right agreements were signed). The monthly turnover of the development company Uus-Järveüla OÜ was 2.27 million euros and the profit was 236 thousand euros. As EfTEN United Property Fund values all equity investments at fair value, the February profit from the Uus-Järveküla development project has been recognised in the fund's balance sheet in prior periods. Altogether 30 terraced and semi-detached houses have been completed in second development phase. The majority of those will be delivered to clients in March and a smaller portion in April. In February, a term deposit with a 4% interest rate in the amount of 120 thousand euros terminated. The fund used the proceeds to repay the overdraft taken out in December, which partially financed the investment in the Kristiine shopping center. At the end of February, the overdraft balance was 282 thousand euros. A more detailed overview of EfTEN United Property Fund's portfolio can be found on the fund's website: https://eftenunitedpropertyfund.ee/en/fund-results-2/ Kristjan Tamla Managing Director Phone: 655 9515 E-mail: [email protected] (mailto:[email protected])