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
Management interim statement or quarterly financial report
Unique data record identifier
6613
Attachments
Submission date and time
24.04.2018 08:30:00
Content of announcement in Estonian
Title
EfTEN Real Estate Fund III AS auditeerimata majandustulemused I kvartal 2018
Message
? Juhatuse esimehe kommentaar EfTEN Real Estate Fund III AS'i 2018. aasta I kvartali olulisimad sündmused olid DSV Riia logistikakeskuse laiendusest tulenev üüritulu suurenemine alates märtsikuust ning 14. detsembril 2017. aastal avatud Laagri Selveri kauplusehoones tegevuse alustamine. Laagri Selveri arendusprojekti saab lugeda lõppenuks käesoleva aasta mais, millal viiakse lõpuni Circle K Laagri teenindusjaama poolse lisaparkla asfalteerimistööd. Tavapärase majandustegevuse osas vastas esimene kvartal juhtkonna ootustele. Lisaks täideti ajautiselt vakantsed pinnad Vilniuses Ulonu ärihoones. Mõlemad fondile kuuluvad Leedu büroohoonete üüripinnad on kvartali lõpu seisuga 100% üürnikega kaetud. Fondi dividendipoliitika näeb ette dividendi väljamakset 80% fondi iga-aastasest rahavoost. 2018. aasta esimese kvartali jooksul kogunes potentsiaalseks (neto)dividendi väljamakseks 625 tuhat eurot, mis on 19 eurosenti ühe aktsia kohta. Dividendide väljamakse 2018. aasta kasumilt toimub 2019. aasta kevadise aktsionäride üldkoosoleku järel. Finantsülevaade EfTEN Real Estate Fund III AS'i konsolideeritud 2018. aasta I kvartali müügitulu oli 2,000 miljonit eurot, kasvades 2017. aasta I kvartaliga võrreldes aastaga 13%. Kontserni EBITDA oli 2018. aasta I kvartalis kokku 1,582 miljonit eurot (2017 I kvartal: 1,409 miljonit eurot). Kontserni puhaskasum samal perioodil oli 1,251 miljonit eurot ning puhaskasum suurenes võrreldes 2017. aasta I kvartaliga 14%. Konsolideeritud brutokasumi marginaal oli 2018. aasta I kvartalis 98% (2017 I kvartal: sama), seega moodustasid kinnistute haldamisega otseselt seotud kulud (s.h maamaks, kindlustus, hooldus- ja parenduskulud) nii 2018. kui 2017. aasta I kvartalis kõigest 2% müügitulust. Kontserni kinnistutega seotud kulud, turustuskulud, üldkulud ning muud tulud ja -kulud moodustasid selle aasta esimeses kvartalis kokku 21% müügitulust (2017 I kvartal: 20% müügitulust). Kontserni varade maht oli seisuga 31.03.2018 97,548 miljonit eurot (31.12.2017: 97,291 miljonit eurot), s.h kinnisvarainvesteeringute õiglane väärtus moodustas varade mahust 89,789 miljonit eurot (31.12.2017: 88,390 miljonit eurot). EfTEN Real Estate Fund III AS-i aktsia puhasväärtus kasvas 2018. aasta I kvartali jooksul 2,7%. Kontserni laenulepingute keskmine intressimäär (s.h arvestades intressiswapi lepinguid) oli kvartali lõpu seisuga 1,73% (31.12.2017: sama) ning LTV (Loan to Value) 51% (31.12.2017: 52%). EfTEN Real Estate Fund III AS dividendipoliitika näeb ette, et igal aruandeaastal maksab Kontsern vabast rahavoost 80% aktsionäridele (bruto)dividendideks. 2017. aastal maksis EfTEN Real Estate Fund III AS aktsionäridele (neto)dividende 1,5 miljonit eurot (63 senti aktsia kohta). Fondi üldkoosolek otsustas bilansipäevajärgselt, 2018. aasta aprillis jagada 2017. aasta kasumist (neto)dividendideks 2,2 miljonit eurot (68 senti aktsia kohta), mis 2017. aasta lõpuks sissemakstud aktsiakapitali kohta on 6,1%. Marilin Hein Finantsjuht Tel. 655 9515 E-post: [email protected] Manus * EfTEN Real Estate Fund III_I_kvartal_vahearuanne_2018_EST (https://prlibrary-eu.nasdaq.com/Resource/Download/411183b6-e5c9-475b-a325- 0308d2cac5b5)
Content of announcement in English
Title
EfTEN ReaL Estate Fund III AS unaudited financial results, 1st quarter 2018
Message
Comment of the Chairman of the Board The most important events in the 1st quarter of 2018 were the rental income increase from the extension of the DSV logistics center in Riga in March 2018, and the full start of operations of the grocery store 'Selver' after launching on December 14th, 2018. The development project will be considered complete in May of this year when the construction of additional parking spaces next to the "Circle K" fuel station will be finished. In the ordinary course of business, the first quarter met the expectations of management. In addition, vacancies were filled at the Ulonu office premises in Vilnius. Both of the Fund's Lithuanian office buildings are 100% let at the end of the quarter. The Fund's dividend policy determines a dividend payment of 80% from the Fund's annual cash flow. During the first quarter of 2018, the potential (net)dividend payout amounted to 625 thousand euros, which is 19 euros per share. The dividend payout from the 2018 profit will proceed after the general shareholders' meeting of spring 2019. Financial overview The consolidated sales revenue of EfTEN Real Estate Fund III AS for 1st quarter 2018 was EUR 2.000 million, which increased by 13% in a year. The Group's EBITDA totaled EUR 1.582 million (1st quarter 2017: EUR 1.409 million). The Group's net profit for the same period amounted to EUR 1.251 million, increasing by 14% compared to 1st quarter 2017. The consolidated gross profit margin in 2018 was 98% (1st quarter 2017: the same). Therefore, expenses directly related to management of properties (incl. land tax, insurance, maintenance and improvement costs) accounted for only 2% of the revenue. The Group's expenses related to properties, marketing costs, general expenses, other income and expenses accounted for 21% of the revenue in 1st quarter 2018. The respective indicator was 20% in 1st quarter 2017. As at 31.03.2018, the Group's total assets were in the amount of EUR 97.548 million (31.12.2017: 97.291 million), including fair value of investment property, which accounted for EUR 89.789 million (31.12.2017: 88.390 million) of the total assets. The net asset value of the share increased by 2.7% in 1(st) quarter 2018. The weighted average interest rate of Group's loan agreements (incl. interest rate swap agreements) was 1.73% as at the end of 1(st) quarter (31.12.2017: same) and LTV (Loan to Value) was 51% (31.12.2017: 52%). The dividend policy of EfTEN Real Estate Fund III AS provides that the Group will pay out 80% of the free cash flow to shareholders as (gross) dividends in each accounting year. In 2017. EfTEN Real Estate Fund III AS paid the shareholders (net) dividends in the amount of 1.5 million euros (63 cents per share). After the balance sheet date, on April 2018, the Fund's general meeting decided to distribute (net)dividends from year 2017 profit 2.2 million euros (68 cents per share), which represents 6.1% of the share capital paid in by the end of 2017. Marilin Hein CFO Phone 655 9515 E-mail: [email protected] (mailto:[email protected]) Attachment * EfTEN Real Estate Fund III_I_kvartal_vahearuanne_2018_ENG (https://prlibrary-eu.nasdaq.com/Resource/Download/7e4fcedb-e0fd- 4f7c-88f8-8708d5619545)