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
8706
Attachments
Submission date and time
12.04.2021 08:00:00
Content of announcement in Estonian
Title
EfTEN Real Estate Fund III AS aktsia puhasväärtus seisuga 31.03.2021
Message
EfTEN Real Estate Fund III AS aktsia puhasväärtus (NAV) seisuga 31.03.2021 oli 17,35 eurot. EPRA aktsia puhasväärtus (raamatupidamislik puhasväärtus ilma edasilükkunud tulumaksukohustust ja intressiderivatiivide õiglast väärtust arvestamata) oli 31.03.2021 seisuga 18,48 eurot. Nii NAV kui EPRA NAV suurenesid märtsi jooksul 0,9%. Märtsis teenis EfTEN Real Estate Fund III AS konsolideeritud müügitulu kokku 961 tuhat eurot, mis on samal tasemel veebruarikuu tulemusega. Fondi EBITDA oli märtsis 817 tuhat eurot, mis on väiksemate üldkulude tõttu 18 tuhat eurot rohkem kui veebruaris. Covid-19 kiirenenud leviku ja kasvanud piirangute taustal on fondi tulemused 2021. aasta I kvartalis üle ootuste head. Saules Miestase kaubanduskeskuses Leedus on üüritulu küll seoses ajutiste allahindlustega võrreldes eelmise aasta I kvartaliga keskmiselt 22% võrra langenud, kuid ülejäänud kinnistute üüritulule kriis 2021. aasta I kvartalis olulist mõju ei avaldanud. Samas on osade üürnikega sõlmitud lisakokkuleppeid üürimaksete edasilükkamiseks kuni maikuuni, mis omakorda avaldab ajutist negatiivset mõju fondi rahavoogudele. 2021. aasta I kvartalis sõlmiti muuhulgas uued üürilepingud Ulonu ja Laisvese büroohoonetes Leedus, mis vähendas fondi vakantsuse määra 0,8%-ni, s.t kogu üüriportfellist (124 tuhat m2) on fondi kinnisvaraportfellis vakantseid pindu märtsi lõpu seisuga ainult 934 m2. Selle aasta I kvartalis on EfTEN Real Estate Fund III AS teeninud konsolideeritud müügitulu kokku 2,9 miljonit eurot, s.o 15% rohkem kui eelmise aasta I kvartalis. Müügitulu suurenemine on seotud uute kinnisvarainvesteeringutega eelmisel aastal, kuid ka vakantsuse vähenemisega Leedu büroohoonetes. Covid-19 negatiivne mõju fondi üüritulule võrreldes eelmise aasta I kvartaliga on keskmiselt 150 tuhat eurot. Ilma ajutiste Covid-19 allahindlusteta teeniks fondi kinnisvaraportfell 8,3% kõrgemat müügitulu. EfTEN Real Estate Fund III AS-i konsolideeritud omakapital oli 31.03.2021 seisuga 73,278 miljonit eurot (31.12.2020: 71,483 miljonit eurot). Marilin Hein Finantsjuht Tel 655 9515 E-post: [email protected] (mailto:[email protected])
Content of announcement in English
Title
Net asset value of EfTEN Real Estate Fund III AS as of 31.03.2021
Message
The net asset value (NAV) of EfTEN Real Estate Fund III AS as of 31.03.2021 was 17.35 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 31.03.2021 was 18.48 euros. Both NAV and EPRA NAV increased 0.9% during March. In March, EfTEN Real Estate Fund III AS earned a total of 961 thousand euros in consolidated sales revenue, which is at the same level as in February. The fund's EBITDA was 817 thousand euros in March, which is 18 thousand euros more than in February due to lower general expenses. In a situation of accelerated spread and increased restrictions on Covid-19, the fund's results in the first quarter of 2021 are better than expected. In Saules Miestas shopping center in Lithuania, rental income has decreased on average by 22% compared to the first quarter of the previous year due to temporary discounts, but the crisis did not have a significant effect on the rental income of other properties in the first quarter of 2021. At the same time, additional agreements have been concluded with some tenants to defer rent payments until May, which in turn will have a temporary negative effect on the fund's cash flows. In the first quarter of 2021, new lease agreements were signed in Ulonu and Laisves office buildings in Lithuania, which reduced the fund's vacancy rate to 0.8%, i.e. only 934 m2 of the fund's portfolio's total leasable area (124 thousand m2) is vacant as of 31.03.2021. In the first quarter of this year, EfTEN Real Estate Fund III AS has earned a total of 2.9 million euros in consolidated sales revenue,which is 15% more than in the first quarter of the previous year. The increase in sales revenue is related to new property investments last year, but also to a decrease in vacancies in Lithuanian office buildings. The negative impact of Covid-19 on the fund's rental income compared to the first quarter of the previous year is on average 150 thousand euros. Without temporary Covid-19 discounts, the fund's real estate portfolio would earn 8.3% higher sales revenue. The consolidated equity of EfTEN Real Estate Fund III AS was 73.278 million euros as of 31.03.2021 (31.12.2020: 71.483 million euros). Marilin Hein CFO Phone 655 9515 E-mail: [email protected] (mailto:[email protected])