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
This announcement has been corrected.
Corrected version
Correction: UPP Olaines OÜ 1st quarter 2019 unaudited financial results
Categories
Management interim statement or quarterly financial report
Unique data record identifier
7338
Attachments
Submission date and time
04.06.2019 12:29:16
Content of announcement in Estonian
Title
UPP Olaines OÜ 2019. aasta 1. kvartali auditeerimata majandustulemused
Message
Üldine informatsioon
UPP Olaines OÜ ('ettevõte') asutati kinnisvarainvesteeringu Olaines Logistics
Park (hooned ja kinnistu) finantseerimiseks, omandamiseks ning haldamiseks.
Olaines Logistics Park asukoht on Sharlotes, Olainese maakond, Olainese vald,
kadastrinumber 8080 003 0029, registreeritud Olaine valla linna maakatastris nr.
5439. Ettevõte asutati 24.08.2017 ning ettevõttel puudus majanduslik tegevus
kuni 15.12.2018, kui omandati Olaines Logistics Parki külmladu.
Kinnisvara omandamise finantseerimiseks emiteeris ettevõtte tagatud allutatud
võlakirju kogunominaalväärtuses 6,215 miljon eurot. Võlakirjad noteeriti ning
võeti kauplemisele Nasdaqi Tallinna võlakirjade nimekirjas 29.11.2018.
Ettevõtte äritegevus ei ole mõjutatud hooajalistest faktoritest. Ettevõtte
tegevusel puudub sotsiaalne või keskkondlik mõju.
Ettevõtte on loodud ainult Olaines Logistics Parki finantseerimiseks,
omandamiseks ja haldamiseks, seetõttu strateegilisi muutusi ettevõtte
äritegevuses ei ole planeeritud.
Juhtkonnal puudub informatsioon trendidest, ebakindlustest, nõuetest,
kohustustest või sündmustest, mis võiks mõistliku tõenäosusega osutada
materiaalset mõju ettevõtte väljavaadetele selle vahearuande aruandlusperioodi
järgsel perioodil väljaspool ettevõtte regulaarset äritegevust.
UPP Olaines OÜ jätkab tegevust.
2019. aasta esimese kvartali ('I kv 2019') tegevusaruanne
Viivitus 2018. majandusaasta auditeeritud tulemuste avalikustamises
UPP Olaines OÜ ei ole avalikustanud 2018. majandusaasta auditeeritud tulemusi
kuna UPP Olaines OÜ 2018. majandusaasta auditeeritud aruanne ei ole veel valmis.
Aruande valmimise hilinemise põhjuseks UPP Olaines OÜ ja tema tütaräriühingute
esmakordne auditeerimine, mis on võtnud rohkem aega kui esialgu planeeritud. UPP
Olaines OÜ alla kuulub Läti tütaräriühing Olaines Logistics SIA, mille alla
kuulub omakorda Olaines logistikakeskuse operaator Olaines Logistics Parks SIA.
Kahe Läti äriühingu esmakordne auditeerimine Eesti Emitendi alla on võtnud
rohkem aega, võrreldes regulaarse auditi protsessiga.
UPP Olaines OÜ juhatus kinnitab, et 2018. majandusaasta auditeeritud tulemuste
avalikustamisega viivitamine ei ole tahtlik. Samuti kinnitab UPP Olaines OÜ
juhatus, et viivitust ei ole põhjustatud UPP Olaines OÜ, või tema
tütaräriühingute, majandus-, finants-, või äritegevusest.
Tegevused
Olulisi sündmusi peale regulaarsete operatiivtegevuste, sh õigeaegsete üüri-
ning kommunaaltasude laekumiste, IV kv 2018 ei olnud.
IV kv 2018 lõpu seisuga kinnisvaraobjektil vakantsus puudub.
KONSOLIDEERITUD VAHEARUANNE
Konsolideeritud koondkasumi vahearuanne
---------------------------------------------------------------
(eurodes) Lisa 3 kuud 2019 3 kuud 2018
---------------------------------------------------------------
Müügitulu 4 649 713 624 518
---------------------------------------------------------------
Puhas renditulu 649 713 624 518
---------------------------------------------------------------
Halduskulud 5 (5 566) (118 605)
---------------------------------------------------------------
Ärikasum 644 147 505 913
---------------------------------------------------------------
Finantstulud (kulud) 6 (376 674) (291 198)
---------------------------------------------------------------
Kasum enne tulumaksu 267 473 214 715
---------------------------------------------------------------
Perioodi kasum 267 473 214 715
---------------------------------------------------------------
Perioodi koondkasum kokku 267 473 214 715
---------------------------------------------------------------
Konsolideeritud finantsseisundi vahearuanne
------------------------------------------------------------------
(eurodes) Note 31.03.2019 31.12.2018
------------------------------------------------------------------
Raha ja raha ekvivalendid 7 523 170 426 691
Nõuded ja ettemaksed 8 281 913 300 576
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Käibevara kokku 805 083 727 267
Kinnisvarainvesteeringud 9 30 762 000 30 762 000
------------------------------------------------------------------
Põhivara kokku 30 762 000 30 762 000
VARAD KOKKU 31 567 083 31 489 267
Võlad ja ettemaksed 10 939 259 862 915
Laenukohustused 11 1 064 000 1 064 004
------------------------------------------------------------------
Lühiajalised kohustused 2 003 259 1 926 919
Laenukohustused 11 28 326 632 28 592 629
------------------------------------------------------------------
Pikaajalised kohustused 28 326 632 28 592 629
KOHUSTUSED KOKKU 30 329 891 30 519 548
Aktsiakapital 2 500 2 500
Jaotamata kasum 1 234 692 967 219
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OMAKAPITAL KOKKU 1 237 192 969 719
OMAKAPITAL JA KOHUSTUSED KOKKU 31 567 083 31 489 267
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Siim Sild
Direktor
+372 5626 0107
[email protected]
Content of announcement in English
Title
UPP Olaines OÜ 1st quarter 2019 unaudited financial results
Message
General information
UPP Olaines OÜ (hereafter 'the company') was established for the purpose of
funding, acquiring and managing the real estate investment of Olaines Logistics
Park: (buildings and land) located at "Sharlotes", Olaines county, Olaines
parish, Latvia, cadastre number 8080 003 0029, registered in the Land Register
compartment No.5439 of the city of Olaine parish. The company was established in
24.08.2017 and had no economic activity until 15.12.2018, when it acquired the
cold storage warehouse Olaines Logistics Park.
To finance the acquisition of the property, the company issued secured
subordinated bonds in the total nominal value of 6.215 million euros. The bonds
were listed and admitted to trading on Nasdaq Tallinn Bond List on 29.11.2018.
The business performance is not affected by seasonal factors. The activities of
the company have no environmental or social impact.
As the company has been established solely for the purpose funding, acquiring
and managing the property, no strategic changes in the business are planned.
The management board is aware of no trends, uncertainties, demands, commitments
or events that are reasonably likely to have a material effect on the company's
prospects for the period after the reporting period of this interim financial
statement outside the course of its regular business activities.
UPP Olaines OÜ is a going concern.
Management commentary for the first quarter of 2019 ('Q1 2019')
Delayed audited annual report for 2018
UPP Olaines OÜ has delayed the publishing of its audited annual report for 2018
because UPP Olaines OÜ audited annual report for 2018 has not yet been
completed.
The delay is mainly caused by the fact that UPP Olaines OÜ and its subsidiary
companies in Latvia are being audited for the first time and the process has
taken longer than initially expected. UPP Olaines OÜ group consists of the
Issuer UPP Olaines OÜ, who controls a direct Latvian subsidiary Olaines
Logistics SIA, who controls the property holding company Olaines Logistics Parks
SIA. Auditing two Latvian companies under the Estonian Issuer for the first time
has taken longer compared to regular, recurring auditing.
The management of UPP Olaines OÜ confirms that the delay in audited annual
report for 2018 is not voluntary. The management of UPP Olaines OÜ confirms the
delay is not caused by economic, financial or business activities of UPP Olaines
OÜ, or its subsidiaries.
Operations
No significant events occurred in Q1 2019 and all regular operations of the
premise are running smoothly, including duly and timely collection of rental and
utilities payments from the tenants.
As of the end of Q1 2019, there is no vacancy in the premises.
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
Condensed consolidated interim statement of comprehensive income
-------------------------------------------------------------------------------
(in EUR) Note Q1 2019 Q1 2018
-------------------------------------------------------------------------------
Sales revenue 4 649,713 624,518
-------------------------------------------------------------------------------
Net rental income 649,713 624,518
-------------------------------------------------------------------------------
Administrative expenses 5 (5,566) (118,605)
-------------------------------------------------------------------------------
Operating profit 644,147 505,913
-------------------------------------------------------------------------------
Financial income / (cost) 6 (376,674) (291,198)
-------------------------------------------------------------------------------
Profit before income tax 267,473 214,715
-------------------------------------------------------------------------------
Profit for the period 267,473 214,715
-------------------------------------------------------------------------------
Total comprehensive income for the period 267,473 214,715
-------------------------------------------------------------------------------
Condensed consolidated interim statement of financial position
--------------------------------------------------------------------------
(in EUR) Note 31.03.2019 31.12.2018
--------------------------------------------------------------------------
Cash and cash equivalents 7 523,170 426,691
Accounts receivable and prepayments 8 281,913 300,576
--------------------------------------------------------------------------
Total current assets 805,083 727,267
Investment property 9 30,762,000 30,762,000
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Total non-current assets 30,762,000 30,762,000
TOTAL ASSETS 31,567,083 31,489,267
Accounts payable and other settlements 10 939,259 862,915
Loans and borrowings 11 1,064,000 1,064,004
--------------------------------------------------------------------------
Total current liabilities 2,003,259 1,926,919
Loans and borrowings 11 28,326,632 28,592,629
--------------------------------------------------------------------------
Total non-current liabilities 28,326,632 28,592,629
TOTAL LIABILITIES 30,329,891 30,519,548
Share capital 2,500 2,500
Retained earnings 1,234,692 967,219
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TOTAL EQUITY 1,237,192 969,719
TOTAL EQUITY AND LIABILITIES 31,567,083 31,489,267
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Siim Sild
Director
+372 5626 0107
[email protected]