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
9671
Attachments
Submission date and time
11.07.2022 08:00:00
Content of announcement in Estonian
Title
EfTEN Real Estate Fund III AS aktsia puhasväärtus seisuga 30.06.2022
Message
EfTEN Real Estate Fund III AS aktsia puhasväärtus (NAV) oli 30.06.2022 seisuga 19,8596 eurot, kasvades juunis 4,2%. EPRA aktsia puhasväärtus (raamatupidamislik puhasväärtus ilma edasilükkunud tulumaksukohustust ja intressiderivatiivide õiglast väärtust arvestamata) oli 30.06.2022 seisuga 21,13 eurot. EPRA NAV suurenes juunis 4,4% võrra. Juunis viis fond läbi oma tavapärase kinnisvarainvesteeringute hindamise, mille käigus kasvas fondi kinnisvaraportfelli väärtus 2,2% (3,702 miljoni euro) võrra. Väärtuse kasv tuli peamiselt inflatsioonist tulenevast rahavoo-ootuste paranemisest enamikes fondi investeeringutes. Juunis teenis EfTEN Real Estate Fund III AS konsolideeritud müügitulu kokku 1 179 tuhat eurot, mis on samal tasemel, mis kuu varem. Fondi konsolideeritud EBITDA oli juunis 978 tuhat eurot, s.o 3 tuhat eurot vähem kui mais. Selle aasta kuue kuu jooksul on fond teeninud 6,99 miljoni euro (2021 6 kuud: 5,96 miljoni euro) suuruse müügitulu juures 5,83 miljonit eurot (2021: 4,89 miljonit eurot) EBITDA-d. EBITDA on võrreldes eelmise aastaga kasvanud kokku 944 tuhat eurot, millest 591 tuhat eurot on seotud võrreldava portfelli (portfell enne uusi soetuseid) EBITDA suurenemisega. Fondi konsolideeritud vaba rahavoog (EBITDA miinus laenu- ja intressimaksed ning Leedu ettevõtete tulumaksukulu) on selle aasta I poolaastal kokku 3 034 tuhat eurot, mis on 915 tuhat eurot (43%) kõrgem kui aasta varem. Nii suur vaba rahavoo kasv on seotud peamiselt eelmise aasta Covid-19 mõjul tehtud üüri allahindluste lõppemisega, kuid ka vakantsete pindade väljaüürimisega, intressikulude vähenemisega ning Ramygalose büroohoone soetusega Leedus eelmise aasta juunis. Fondi konsolideeritud raha jääk kasvas juunis 144 tuhande euro võrra ning oli 30.06.2022 seisuga 8,49 miljonit eurot. Fondil oli juuni lõpu seisuga investeerimata kapitali 3,5 miljonit eurot. EfTEN Real Estate Fund III AS-i konsolideeritud omakapital oli 30.06.2022 seisuga 100,738 miljonit eurot (31.12.2021: 96,914 miljonit eurot). Marilin Hein Finantsjuht Tel. 6559 515 E-mail: [email protected] (mailto:[email protected])
Content of announcement in English
Title
EfTEN Real Estate Fund III AS share net value as of 30.06.2022
Message
The net asset value (NAV) of the share of EfTEN Real Estate Fund III AS was 19.8596 euros as of 30.06.2022, increasing by 4.2% in June. The net value of the EPRA share (net book value without taking into account the deferred income tax liability and the fair value of interest derivatives) was 21.13 euros as of 30.06.2022. EPRA NAV increased by 4.4% in June. In June, the fund carried out its usual valuation of real estate portfolio, during which the value of the fund's investment properties increased by 2.2% (EUR 3.702 million). The increase in value came mainly from inflation-driven increase in cash flow expectations in most of the fund's investments. In June, EfTEN Real Estate Fund III AS earned a total of 1,179 thousand euros in consolidated sales revenue, which is at the same level as the month before. The fund's consolidated EBITDA was 978 thousand euros in June, i.e. 3 thousand euros less than in May. During the six months of this year, the fund has earned EBITDA of EUR 5.83 million (2021: EUR 4.89 million) on sales revenue of EUR 6.99 million (2021 6 months: EUR 5.96 million). Compared to last year, EBITDA has increased by a total of 944 thousand euros, of which 591 thousand euros is related to the increase in EBITDA of the comparable portfolio (portfolio before new acquisitions). The fund's consolidated free cash flow (EBITDA minus loan and interest payments and income tax expenses of Lithuanian companies) is 3,034 thousand euros in the first half of this year, which is 915 thousand euros (43%) higher than the year before. Such a large increase in free cash flow is mainly related to the end of last year's rent discounts due to the impact of Covid-19, but also to the renting out of vacant premises, the decrease of interest costs and the acquisition of the Ramygalos office building in Lithuania last June. The fund's consolidated cash balance increased by 144 thousand euros in June and was 8.49 million euros as of 30.06.2022. As of the end of June, the fund had 3.5 million euros of uninvested capital. The consolidated equity of EfTEN Real Estate Fund III AS was 100.738 million euros as of 30.06.2022 (31.12.2021: 96.914 million euros). Marilin Hein CFO Phone +372 6559 515 E-mail: [email protected]