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
8209
Submission date and time
10.08.2020 09:30:06
Content of announcement in Estonian
Title
EfTEN Real Estate Fund III AS aktsia puhasväärtus seisuga 31.07.2020
Message
EfTEN Real Estate Fund III AS-i aktsia puhasväärtus (NAV) seisuga 31.07.2020 oli 16,09 eurot. EPRA aktsia puhasväärtus (raamatupidamislik puhasväärtus ilma edasilükkunud tulumaksukohustust ja intressiderivatiivide õiglast väärtust arvestamata) oli 31.07.2020 seisuga 17,14 eurot. Nii NAV kui EPRA NAV suurenesid juuli jooksul 0,8%. Fondi konsolideeritud juulikuu müügitulu oli selle aasta kõrgeim - kokku 860 tuhat eurot (juuni: 817 tuhat eurot) ja EBITDA 699 tuhat eurot (juuni: 640 tuhat eurot). Müügitulu ja EBITDA kasv on peamiselt seotud Saules Miestase heade tulemustega kriisist taastumisel ning samuti Evolutioni büroohoone vakantsete pindade täitmisega. Juulis jätkusid ajutised allahindlused DSV logistikahoonete ja Hortese aianduskeskuse kinnistutel, mille negatiivne mõju fondi konsolideeritud igakuisele üüritulule on 65 tuhat eurot. Fond hakkab nimetatud kinnistutelt tavapärast üüritulu teenima alates selle aasta augustist ja septembrist. Fondi konsolideeritud raha jääk vähenes juulis 2,4 miljoni euro võrra, sisaldades juulis tehtud dividendimakseid kogusummas 2,7 miljonit eurot. Kõik kevadel sõlmitud maksepuhkuste lepingud on lõpetatud ja fond tasub laenude annuiteetmakseid tavapäraselt, kuid juulis aktsepteeriti Covid-19 kriisist tulenevast üürirahavoo vähenemisest fondi kahe Leedu tütarettevõtte taotlused intressikulude osaliseks katmiseks. Fondi juulikuu intressikulud olid seetõttu tavapärase 110 tuhande euro asemel 75 tuhat eurot, s.t 35 tuhat eurot madalamad. Augustis lõpeb Saules Miestas UAB laenuleping Swedpangaga. Tütarettevõte on saanud laenulepingu pikendamiseks siduva pakkumise ning leping allkirjastatakse sellel nädalal. Laenuleping pikendatakse järgmiseks kolmeks aastaks intressimääraga 2,65% + 3 kuu EURIBOR. EfTEN Real Estate Fund III AS-i konsolideeritud varade maht oli 31.07.2020 seisuga 135,0 miljonit eurot (31.12.2019: 132,8 miljonit eurot) ning omakapital 67,9 miljonit eurot (31.12.2019: 71,17 miljonit eurot). Marilin Hein Finantsjuht Tel. 6559 515 E-mail: [email protected]
Content of announcement in English
Title
Net asset value of EfTEN Real Estate Fund III AS as of 31.07.2020
Message
The net asset value (NAV) of EfTEN Real Estate Fund III AS as of 31.07.2020 was 16.09 euros. The net asset value of the EPRA share (net book value excluding deferred income tax liability and fair value of interest rate derivatives) as of 31.07.2020 was 17.14 euros. Both NAV and EPRA NAV increased by 0,8% during July. The Fund's consolidated sales revenue in July was the highest this year - a total of 860 thousand euros (June: 817 thousand euros) and EBITDA 699 thousand euros (June: 640 thousand euros). The increase in sales revenue and EBITDA is mainly related to the good results of Saules Miestas in recovering from the crisis, as well as the filling of vacancies in the Evolution office building. In July, temporary discounts continued on the DSV's logistics buildings and the Hortes Horticultural Centers, the negative impact of which on the fund's consolidated monthly rental income is 65 thousand euros. The fund will start earning the usual rental income from these properties from August and September of this year. The fund's consolidated cash balance decreased by 2.4 million euros in July, including dividend payments made in the total amount of 2.7 million euros. All loan grace period agreements concluded in the spring have been terminated by now and the fund pays annuity payments on loans as usual, but in July, due to the decrease in rental cash flow during the Covid-19 crisis, the fund's two Lithuanian subsidiaries' applications were accepted to partially cover loan interest expenses. The fund's interest expenses in July were therefore 75 thousand euros, ie 35 thousand euros lower than the usual 110 thousand euros. In August, the loan agreement of Saules Miestas UAB with Swedbank expires. The subsidiary has received a binding offer to extend the loan agreement and the agreement will be signed this week. The loan agreement is extended for the next three years at an interest rate of 2.65% + 3 months EURIBOR. As of 31.07.2020, the consolidated assets of EfTEN Real Estate Fund III AS were 135.0 million euros (31.12.2019: 132.8 million euros) and equity was 67.9 million euros (31.12.2019: 71.17 million euros). Marilin Hein CFO Phone: 6559 515 E-mail: [email protected]