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 corporate action
Unique data record identifier
8794
Attachments
Submission date and time
11.05.2021 08:00:00
Content of announcement in Estonian
Title
EfTEN Real Estate Fund III AS aktsia puhasväärtus seisuga 30.04.2021
Message
EfTEN Real Estate Fund III AS aktsia puhasväärtus (NAV) seisuga 30.04.2021 oli 16,83 eurot. EPRA aktsia puhasväärtus (raamatupidamislik puhasväärtus ilma edasilükkunud tulumaksukohustust ja intressiderivatiivide õiglast väärtust arvestamata) oli 30.04.2021 seisuga 17,96 eurot. NAV vähenes aprillis dividendide väljakuulutamise tõttu 3,0%. Ilma dividende välja kuulutamata oleks fondi NAV ja EPRA NAV aprillis kasvanud 1% võrra. Aprillis teenis EfTEN Real Estate Fund III AS konsolideeritud müügitulu kokku 951 tuhat eurot, mis on 9 tuhat eurot vähem kui märtsis. Müügitulu vähenes peamiselt seoses Eesti piirangutega kauplustele ning aprillis Hortese aianduskeskustele üheks kuuks antud ajutise üürisoodustusega kogusummas 27 tuhat eurot. Hortese allahindluste mõju aprillis vähendas Saules Miestase kaubanduskeskuse avamine Leedus 19. aprillil ning sellest tulenev üüritulu suurenemine. Keskuse külastatavus on olnud pärast avamist 15 tuhat päevas, mis on ca 35% kõrgem kui enne sulgemisi. Fondi konsolideeritud EBITDA oli aprillis 801 tuhat eurot, mis on seoses peamiselt üldkoosoleku korraldamise ja Nasdaq-le tasutud haldustasude tõttu 16 tuhat eurot vähem kui märtsis. Selle aasta esimese nelja kuu jooksul on fond teeninud 3,8 miljoni euro (2020 4 kuud: 3,2 miljoni euro) suuruse müügitulu juures 3,2 MEUR (2020: 2,5 MEUR) EBITDA-d. EBITDA marginaal on sellel aastal väiksematest parendus- ja turustuskuludest tulenevalt oluliselt kõrgem - 84% vs 77% eelmisel aastal. EBITDA on võrreldes eelmise aastaga kasvanud kokku 711 tuhat eurot, millest 633 tuhat eurot on toonud uute kinnisvarainvesteeringute lisandumine, 203 tuhat eurot olemasoleva portfelli parem toimimine (vakantsete üüripindade väljarentimine ning uued üürilepingud) ning miinus 125 tuhat Saules Miestaste Covidi piirangute negatiivne mõju. Fondi konsolideeritud üle tähtaja võlgnevus oli 30. aprilli seisuga 365 tuhat eurot, suurenedes aprillis 31 tuhande euro võrra. Üle tähtaja võlgnevusest 79% (289 tuhat eurot) moodustab Saules Miestase võlgnevus, s.h on 150 tuhande euro osas sõlmitud maksegraafikud kuni selle aasta augustini. Samuti sisaldab üle tähtaja võlgnevus Hortese aianduskeskuse üürimakseid kogusummas 77 tuhat eurot, mis tasutakse mais. Fondi konsolideeritud raha jääk kasvas aprillis 237 tuhande euro võrra ning oli aprilli lõpus 5,9 MEUR. EREFIII NAV oli aprilli lõpus 16,83 eurot ning EPRA NAV oli 17,96 eurot. NAV vähenes aprillis dividendide väljakuulutamise tõttu 3% ja EPRA NAV 2,8%. Ilma dividende välja kuulutamata oleks fondi NAV aprillis kasvanud 1% võrra. EfTEN Real Estate Fund III AS-i konsolideeritud omakapital oli 30.04.2021 seisuga 71,069 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 30.04.2021
Message
The net asset value (NAV) of EfTEN Real Estate Fund III AS as of 30.04.2021 was 16.83 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 30.04.2021 was 17.96 euros. NAV decreased by 3.0% in April due to the announcement of dividends. Without the dividends announcement, the fund's NAV and EPRA NAV would have increased by 1% in April. In April, the consolidated sales revenue of EfTEN Real Estate Fund III AS was 951 thousand euros, which is 9 thousand euros less than in March. Sales revenue decreased mainly due to Estonia's restrictions to shops and shopping centers and on temporary rental discounts granted to Hortes horticultural centers for one month in April in the total amount of 27 thousand euros. The impact of Hortes discounts in April was reduced by the opening of the Saules Miestas shopping center in Lithuania on 19 April and the resulting increase in rental income. The traffic in the center has been 15 thousand a day since its opening, which is about 35% higher than before the closures. The Fund's consolidated EBITDA was 801 thousand euros in April, which is 16 thousand euros less than in March, mainly due to the costs related to the general meeting and the fees paid to the Nasdaq. During the first four months of this year, the fund has earned EBITDA of 3.2 MEUR (2020: 2.5 MEUR) with a sales revenue of 3.8 million euros (2020 4 months: 3.2 million euros). The EBITDA margin is significantly higher this year due to lower maintenance and marketing costs - 84% vs. 77% last year. EBITDA has increased by a total of 711 thousand euros compared to the previous year, of which 633 thousand euros was due to the addition of new investment properties, 203 thousand euros to the better functioning of the existing portfolio (occupancy increase and new lease agreements signed) and minus 125 thousand negative effects of Saules Miestaste Covid restrictions. The consolidated overdue debt of the Fund was 365 thousand euros as of 30 April, increasing by 31 thousand euros in April. 79% (289 thousand euros) of the overdue debt is the debt of Saules Miestas, including payment schedules for 150 thousand euros until August of this year. The overdue debt also includes Hortes Horticultural Center rent payments for in the total amount of 77 thousand euros, which will be paid in May. The consolidated cash balance of the fund increased by 237 thousand euros in April and was 5.9 MEUR at the end of April. At the end of April, EREFIII NAV was 16.83 euros and EPRA NAV was 17.96 euros. NAV decreased by 3% and EPRA NAV decreased by 2.8% in April due to the announcement of dividends. Without the announcement of dividends, the fund's NAV would have increased by 1% in April. The consolidated equity of EfTEN Real Estate Fund III AS was 71.069 million euros as of 30.04.2021 (31.12.2020: 71.483 million euros). Marilin Hein CFO Phone 655 9515 E-mail: [email protected] (mailto:[email protected])