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
18415
Attachments
Submission date and time
10.04.2026 08:00:01
Content of announcement in Estonian
Title
EfTEN Real Estate Fund AS’i 2026. aasta I kvartali finantstulemused ja aktsia puhasväärtus seisuga 31.03.2026
Message
EfTEN Real Estate Fund AS teenis 2026. aasta I kvartalis konsolideeritud üüritulu kokku 8,180 miljonit eurot, mis on 6,5% rohkem kui eelmisel aastal samal ajal. Fondi konsolideeritud EBITDA oli esimeses kvartalis 6,817 miljonit eurot (10,3% rohkem kui eelmisel aastal samal ajal). Fondi EBITDA kasvas kaubanduse segmendis 12%, logistika segmendis 10% ning hooldekodude segmendis 63%. Büroosektoris jäi konsolideeritud EBITDA eelmise aastaga samale tasemele. Fond teenis I kvartalis korrigeeritud rahavoogu (EBITDA miinus intressikulud ja laenude põhiosade tagasimaksed ja tulumaksukulu) kokku ligikaudu 3,5 miljonit eurot, mis on seoses kõrgema EBITDA taseme ja madalamate intressikuludega võrreldes eelmise aasta sama perioodiga .suurenenud 31%, Fondi tütarettevõtete laenude kaalutud keskmine intressimäär oli märtsi lõpu seisuga 4,0%, püsides selle aasta I kvartali jooksul sisuliselt muutumatuna. Fondi intressikulud vähenesid võrreldes eelmise aastaga 14%. 2026. aasta märtsis teenis fond 2 701 tuhat eurot konsolideeritud üüritulu, mis on 41 tuhat eurot vähem kui veebruaris. Üüritulu vähenes 62 tuhande euro ulatuses seoses tütarettevõtte EfTEN Krustpils SIA (Läti DSV logistikakeskuse omanikettevõte) müügiga, kuid kasvas 17 tuhande euro võrra kaubanduskeskuste käibeüüride tõttu. Fondile laekus EfTEN Krustpils SIA müügist kokku 5 374 tuhat eurot ning fond teenis alates kinnisvarainvesteeringu tegemisest 2016. aasta juunis 10% sisemist tulumäära (IRR). Tütarettevõtte müügist saadud raha kasutab fond uute kinnisvarainvesteeringute tegemiseks (sh Magistrali Kaubanduskeskuse OÜ ost) 2026. aastal. 2026. aasta aprilli alguses müüs fondi tütarettevõte EfTEN SPV7 OÜ Tallinnas Mustika kaubanduskeskuse kõrval asuva A.H. Tammsaare tee 116 a asuva kinnistu Ignitis Eesti OÜ-le, kes kavandab kinnistule elektriautode laadimisjaama rajamist. Kinnistu müügist teenis EfTEN SPV7 OÜ 225 tuhat eurot kasumit. Fondi konsolideeritud EBITDA oli märtsis 2 298 tuhat eurot, s.o 22 tuhat eurot rohkem kui veebruaris. Fondi puhasväärtus aktsia kohta oli 31.03.2026 seisuga 20,749 eurot ning EPRA NRV 21,6897 eurot. Aktsia puhasväärtus kasvas märtsis 0,7% ning EPRA NRV 0,6%. Marilin Hein Finantsjuht Tel. 6559 515 E-mail: [email protected] (mailto:[email protected])
Content of announcement in English
Title
EfTEN Real Estate Fund AS’s financial results for Q1 2026 and net asset value as of 31 March 2026
Message
EfTEN Real Estate Fund AS earned total consolidated rental income of EUR8.180 million in the first quarter of 2026, representing an increase of 6.5% compared to the same period last year. The Fund's consolidated EBITDA for the quarter amounted to EUR6.817 million, up 10.3% year-on-year. EBITDA increased by 12% in the retail segment, 10% in the logistics segment and 63% in the elderly care segment, while in the office segment EBITDA remained at the previous year's level. During the first quarter, the Fund generated EUR3.5 million in adjusted cash flow (EBITDA less interest expenses, loan principal repayments and income tax), which increased by 31% compared to the previous year, mainly driven by higher EBITDA and lower interest expenses. As at the end of March, the weighted average interest rate on loans of the Fund's subsidiaries was 4.0%, remaining broadly unchanged during the first quarter. Compared to the previous year, the Fund's interest expenses decreased by 14%. In March 2026, the Fund earned EUR2.701 million in consolidated rental income, which is EUR41 thousand less than in February. Rental income decreased by EUR62 thousand due to the sale of the subsidiary EfTEN Krustpils SIA (owner of the DSV logistics property in Latvia), but increased by EUR17 thousand as a result of turnover-based rental income in shopping centres. The Fund received total proceeds of EUR5.374 million from the sale of EfTEN Krustpils SIA and achieved a 10% internal rate of return (IRR) since the initial investment in June 2016. The proceeds from the sale of the subsidiary will be used by the Fund for new real estate investments in 2026, including the acquisition of Magistrali Kaubanduskeskuse OÜ. At the beginning of April 2026, a subsidiary of the Fund, EfTEN SPV7 OÜ, sold the property located at A.H. Tammsaare tee 116a in Tallinn, adjacent to Mustika shopping centre, to Ignitis Eesti OÜ, which plans to develop an electric vehicle charging station on the site. The Fund's subsidiary EfTEN SPV7 OÜ earned a profit of EUR225 thousand from the sale. The Fund's consolidated EBITDA in March amounted to EUR2.298 million, which is EUR22 thousand higher than in February. As at 31 March 2026, the Fund's net asset value per share was EUR20.749 and EPRA NRV EUR21.6897. During March, NAV per share increased by 0.7% and EPRA NRV by 0.6%. Marilin Hein CFO Phone +372 6559 515 E-mail: [email protected] (mailto:[email protected])