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
8531
Attachments
Submission date and time
31.01.2021 23:30:40
Content of announcement in Estonian
Title
UPP Olaines OÜ 2020. aasta IV kvartali ja 12 kuu konsolideeritud auditeerimata vahearuanne
Message
2020. aasta neljanda kvartali ning kogu majandusaasta finantsülevaade
Grupi 2020 12 kuu neto renditulu oli 2 637 007 (2019 12 kuud: 2 589 379) eurot.
Ärikasum sama perioodi eest oli 2 482 439 (2019 12 kuud: 2 649 256) eurot ja
puhaskasum 1 370 964 (2019 12 kuud: 1 399 103) eurot.
Grupi äritegevuseks on renditulu kogumine, kinnisvaraobjekti haldamine ning
laenukohustuste teenindamine. Laenukohustused moodustavad fikseeritud intressiga
võlakirjad ning investeerimislaen, mille intress on samuti
intressituletuslepinguga fikseeritud. Tulude poolel on stabiilne triple-net
renditulu tugevatelt rentnikelt, mis on põhiosas fikseeritud kesk-pikkade
lepingutega ning mida indekseeritakse vastavalt inflatsioonile. Tulenevalt Grupi
äritegevusest on tema majandustegevus ja finantstulemused üldiselt raskesti
mõjutatavad erinevate väliste tegurite poolt.
2020. aasta 12 kuu finantsilised võtmenäitajad
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(eurodes) IV kv 2020 IV kv 2019 12 kuud 2020 12 kuud 2019
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Neto renditulu 657 849 654 287 2 637 007 2 589 379
Ärikasum 618 950 769 377 2 482 439 2 649 256
Perioodi kasum 251 417 623 900 1 370 964 1 399 103
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(eurodes) 31.12.2020 31.12.2019
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Kinnisvarainvesteering 30 909 000 30 909 000
Intressikandvad laenud 26 364 626 28 492 625
Intressikandvad laenud ilma
omanikulaenuta 23 416 326 25 544 325
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12 kuud 2020
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Puhaskasumi marginaal, % (Puhaskasum /
Puhas renditulu) 56%
ROA (Puhaskasum / Perioodi keskmised
varad) 4,7%
DSCR (Ärikasum / Intressikandvate laenude
põhiosa tagasimaksed ning intressimaksed) 1,1
Juhtkond ja nõukogu
UPP Olaines OÜ juhatuses on üks liige: Marko Tali, juhatuse esimees. UPP Olaines
OÜ nõukogus on kolm liiget: Mart Tooming, Tarmo Rooteman, Hallar Loogma.
Juhatuse ning nõukogu liikmetele ei ole ettenähtud tasu ega muid hüvesid.
Ettevõttes ei ole peale juhatuse ning nõukoguliikmete töötajaid.
2020. aastal moodustas UPP Olaines OÜ auditikomitee, ning see koosneb kolmest
liikmest.
KONSOLIDEERITUD VAHEARUANNE
Konsolideeritud koondkasumi vahearuanne
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12 kuud
(eurodes) Lisa IV kv 2020 IV kv 2019 12 kuud 2020 2019
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Neto renditulu 5 657 849 654 287 2 637 007 2 589 379
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Neto renditulu 657 849 654 287 2 637 007 2 589 379
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Üldhalduskulud (38 899) (31 910) (154 568) (71 123)
Muud tulud / (kulud) 0 (16 000) 0 (16 000)
Kasum/(kahjum)
kinnisvarainvesteeringu
ümberhindlusest 0 147 000 0 147 000
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Ärikasum 618 950 769 377 2 482 439 2 649 256
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(1 250
Finantstulud / (kulud) (436 793) (145 477) (1 111 475) 103)
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Kasum enne tulumaksu 251 417 623 900 1 370 964 1 399 153
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Äriühingu tulumaks (50)
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Aruandeperioodi kasum 251 417 623 900 1 370 964 1 399 103
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Aruandeperioodi koondkasum
kokku 251 417 623 900 1 370 964 1 399 103
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Konsolideeritud finantsseisundi vahearuanne
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(eurodes) Lisa 31.12.2020 31.12.2019
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Raha ja raha ekvivalendid 676 373 561 474
Nõuded ostjate vastu ja muud nõuded 171 124 204 939
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Käibevara kokku 847 497 766 413
Kinnisvarainvesteering 30 909 000 30 909 000
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Põhivara kokku 30 909 000 30 909 000
VARAD KOKKU 31 756 497 31 675 413
Võlad tarnijatele ja muud võlad 369 527 358 762
Tuletisinstrumendid 363 979 455 204
Laenukohustised 6 1 064 004 1 064 000
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Lühiajalised kohustised 1 797 510 1 877 966
Laenukohustised 6 26 364 626 27 428 625
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Pikaajalised kohustised 26 364 626 27 428 625
KOHUSTISED KOKKU 28 162 136 29 306 591
Osakapital 2 500 2 500
Jaotamata kasum 3 591 861 2 366 322
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OMAKAPITAL KOKKU 3 594 361 2 368 822
OMAKAPITAL JA KOHUSTISED KOKKU 31 756 497 31 675 413
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?Siim Sild
Direktor
+372 5626 0107
[email protected]
Content of announcement in English
Title
UPP Olaines OÜ consolidated unaudited financial results for Q4 and 12 months of 2020
Message
Management commentary for the 12 months of 2020 Net rental income was 2 637 007 euros for the 12 months of 2020 (2019 12 months: 2 589 379). Operating profit was 2 482 439 euros for the 12 months of 2020 (2019 12 months: 2 649 256). Net income was 1 370 964 euros for the 12 months of 2020 (2019 6 months: 1 399 103). The company's sole business activity is to collect rental revenue, manage the Olaine property and service its liabilities to lenders and investors. Liabilities include the subordinated bonds with a fixed interest rate and the investment loan which' rate is also fixed with an interest rate swap agreement. On the revenue side the company earns stable triple-net rental income from reputable tenants, which is fixed with medium-term agreements but is subject to indexation. Due to the economically fixed nature of the company, there needs to be major event in the overall economy or in the company's business activities for them to have significant effect on the company's financial results. Key indicators of financial performance and position for 12 months 2020 ------------------------------------------------------------------------------- (in EUR) Q4 2020 Q4 2019 12 months 2020 12 months 2019 ------------------------------------------------------------------------------- Net rental income 657 849 654 287 2 637 007 2 589 379 Operating profit 618 950 769 377 2 482 439 2 649 256 Profit for the period 251 417 623 900 1 370 964 1 399 103 ------------------------------------------------------------------------------- ------------------------------------------------------------------------- (in EUR) 31.12.2020 31.12.2019 ------------------------------------------------------------------------- Investment property 30 909 000 30 909 000 Interest-bearing loans 26 364 626 28 492 625 Interest-bearing loans less shareholder loan 23 416 326 25 544 325 ------------------------------------------------------------------------- ------------------------------------------------------------------------------- 12 months 2020 ------------------------------------------------------------------------------- Net profit margin (Total comprehensive income for the period / Net rental income) 56% ROA (Net profit for the period / Average total assets for the period) 4,7% DSCR (Operating profit / Loan principal and interest payments on interest- bearing loans) 1.1 Management board and supervisory board The management board of UPP Olaines OÜ has one member: Marko Tali, Chairman of the Management Board. The supervisory board of UPP Olaines OÜ has three members: Mart Tooming, Tarmo Rooteman, Hallar Loogma. No remuneration or other benefits are provided to the members of the management board and the supervisory board. Other than the management board and the supervisory board, the Company has no employees. In 2020 UPP Olaines OÜ formed an audit committee, which has three members. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS Condensed consolidated interim statement of comprehensive income ------------------------------------------------------------------------------- (in EUR) Note Q4 2020 Q4 2019 12 months 2020 12 months 2019 ------------------------------------------------------------------------------- Net rental income 5 657 849 654 287 2 637 007 2 589 379 ------------------------------------------------------------------------------- Net rental income 657 849 654 287 2 637 007 2 589 379 ------------------------------------------------------------------------------- General and administrative expenses (38 899) (31 910) (154 568) (71 123) Other income/cost (16 000) (16 000) Profit/loss from revaluation of investment property 0 147 000 0 147 000 ------------------------------------------------------------------------------- Operating profit 618 948 769 377 2 482 439 2 649 256 ------------------------------------------------------------------------------- Financial income / (cost) (436 793) (145 477) (1 111 475) (1 250 103) ------------------------------------------------------------------------------- Profit before income tax 251 417 623 900 1 370 964 1 399 153 ------------------------------------------------------------------------------- Äriühingu tulumaks (50) ------------------------------------------------------------------------------- Profit for the period 251 417 623 900 1 370 964 1 399 103 ------------------------------------------------------------------------------- Total comprehensive income for the period 251 417 623 900 1 370 964 1 399 103 ------------------------------------------------------------------------------- Condensed consolidated interim statement of financial position ----------------------------------------------------------------- (in EUR Note 31.12.2020 31.12.2019 ----------------------------------------------------------------- Cash and cash equivalents 676 373 561 474 Trade and other receivables 171 124 204 939 ----------------------------------------------------------------- Total current assets 847 497 766 413 Investment property 30 909 000 30 909 000 ----------------------------------------------------------------- Total non-current assets 30 909 000 30 909 000 TOTAL ASSETS 31 756 497 31 675 413 Trade and other payables 369 527 358 761 Financial derivatives 363 979 455 204 Loans and borrowings 6 1 064 004 1 064 000 ----------------------------------------------------------------- Total current liabilities 1 797 510 1 877 966 Loans and borrowings 6 26 364 633 27 428 625 ----------------------------------------------------------------- Total non-current liabilities 26 364 633 27 428 625 TOTAL LIABILITIES 28 251 136 29 306 591 Share capital 2 500 2 500 Retained earnings 3 591 861 2 366 322 ----------------------------------------------------------------- TOTAL EQUITY 3 594 361 2 368 822 TOTAL EQUITY AND LIABILITIES 31 756 497 31 675 413 ----------------------------------------------------------------- Siim Sild Director +372 5626 0107 [email protected]