Börsiteade

Baltic Horizon Fund / Northern Horizon Capital AS

LEI kood

5299008IKT93E4SA0G49

Emitendi suuruskategooria

Väike ettevõtja

Majandustegevusalad

Finants- ja kindlustustegevus

Sektor(id)

Fondivalitseja

Emitendi registreeritud asukoht

Eesti

Üldandmed

Kategooriad

Muud korporatiivtoimingud

Teate ID

8257

Esitamise kuupäev ja aeg

15.09.2020 22:35:00

Teate sisu eesti keeles

Pealkiri

Baltic Horizon Fond avaldab osaku puhasväärtuse 2020. aasta augusti seisuga

Teade

Baltic  Horizon Fondi (Fond)  osaku puhasväärtus (NAV)  2020. aasta augusti lõpu
seisuga on 1,2181 eurot osaku kohta. Fondi kogu puhasväärtus tõusis kuuga 138,1
miljoni  euroni.  Fondi  osaku  puhasväärtuse  muutus võrreldes eelneva kuu lõpu
seisuga  on  +0.69%. Fondi  puhasväärtust  mõjutas  positiivselt renditegevusest
teenitud  rahavoog ning  muutus rahavoogude  riskimaandamisinstrumendi reservis.
EPRA  NAV, EPRA NRV ja EPRA NTA  kasvas 2020. aasta augusti lõpu seisuga 1,3060
euroni osaku kohta, mis tähendab +0.63% kasvu võrreldes eelmise kuuga.

Aasta esimese 8 kuu konsolideeritud puhas renditulu ulatus 13,6 miljoni euroni,
ületades eelmise aasta sama perioodi renditulu 1,8 miljoni euro ehk + 15,3%
võrra (11,8 miljonit eurot 31. augustil 2019. aastal lõppenud kaheksa kuu
jooksul). Tugeva kasvu taga olid Galerija Centrs`i ja North Star`i omandamised,
millel oli positiivne mõju Fondi renditulu kasvule 2020. aastal (võrreldes
2019. aastaga), ehkki renditulu kasv 2020. aastal aeglustus üürnikele antud
abistamismeetmete tõttu COVID-19 pandeemia ajal. COVID-19 kriisi otsene mõju
2020. aasta augusti puhtale renditulule piirdus peamiselt kannatanud üürnike
ajutise üürisoodustusega 0,14 miljoni euro ulatuses, mis on oluliselt vähem
võrreldes kuudega teises kvartalis 2020. Fond teenis 2020. aasta augustis
auditeerimata konsolideeritud puhaskasumit 0,9 miljonit eurot.

2020. aasta augusti lõpus moodustas Fondi konsolideeritud raha ja raha
ekvivalendid 7,1 miljonit eurot (31. detsember 2019: 9,8 miljonit eurot), mis on
piisav Fondi likviidsusvajaduste katmiseks. Üüri sissenõudmise määrade
paranemine mõjutas positiivselt Fondi sularahajääki, samas kui rahalise
väljamakse tegemine investoritele summas 1,7 miljonit eurot augustis 2020 aitas
kaasa sularaha ja raha ekvivalentide vähenemisele kuu jooksul. Kokku vähenesid
Fondi sularaha ja raha ekvivalendid 2020. aasta augusti jooksul 1,4 miljoni euro
võrra. Pärast edukaid läbirääkimisi üürnikega on Fondi juhtkond suutnud
vähendada nõudeid 3,3 miljonilt eurolt 2020. aasta mai seisuga 1,6 miljonile
eurole 2020. aasta augusti lõpu seisuga.

2020. aasta augustis täitis Fond kõiki pangalaenu lepingutes ja
võlakirjaemissiooni tingimustes sätestatud eritingimusi. Kogu COVID-19 pandeemia
ajal on Fond samuti täitnud kõik oma laenukohustused võlausaldajate ees.

Northern Horizon Capital AS kui Baltic Horizon Fondi fondivalitseja jätkab
aktiivset pandeemia majandusliku mõju jälgimist.

Lisainformatsiooni saamiseks palume ühendust võtta:

Tarmo Karotam
Baltic Horizon Fond, fondijuht
E-mail [email protected]
(https://www.globenewswire.com/Tracker?data=cWe6LqIKcs78eHz71bVGkePALkr5YF5WiVwz
yFJZGsn9Dib1OrHjWi5wHIuFt9MnR3qlwWJfJhDfuAUgwnwSXDZ6oXYDeI1uvGbu25DOTHUKRP4dQY9J
RhLHu-AYgSuogHAq0gZ-q_NApb7rRC97fDjt-aW-vxyLt90mj1aLRon5K9w0oQF8phzU1f-
BH_MmUyuWGuTPqy8bJNjLXnAmOSzSIFPwbdveOa_ozI9G2_rZPEckV5B6wpyInBbZXr1FaC25fJIREhG
_tEKsZKd-s-
CtjR_ifMh05BZUsXMcAsDxMUYdyZaeA0VHU0LdSeApYighHn5L5OrRHn5P6NbcBImhlPxr1z-
zfp0IxcTwprkcDzVlDA-qZZbgfjrA9hXIBqPiPXTjnDq3GH6thqMIAouEHPCFYhlxD0xHJTsj-Y-
BI1zI3EXywOefRpelXiRtKwV84UKL_ScRKU-bN3Tb2w-
24HTAehQEOsju2wNW3yoE8b5zie_BDC6MJBClxYsWXLqwAGwx4fNxa4ALHk6PhoGwqnlSjGfX4ncnKPu
QNqI9GafF3CAVXZm6x68fJdOPsH5GF6NbjD5qqzhtMgp2XfLdB9zwVNadVxMfbP2Kke1hN8ZNKsNnGgX
k2ncvOEd477-MfU0v4qWLJ41f68BCF6FGgREg4A2GL92hW-
09ckdc_ucJr_WPGtCGXe9YT8dbfYOAdrviBykMRmj7mv1QD1_DqdFhADZsBVhZYs-
C3eKRbT3VoCZQkXGGrTYzd85ah0BBp2eFpiis2NJiFh4SjjUc5pvD9sOFLKSebm1s3JtphU6wApoZ2U6
Hq3YCL2EoGK7ug63NLy70seOVa7gj3EWixePVMz0Y7qvzE2Q_SJi7I69hpkH8VeiQELfycOOxKKkjiM6
QmOyevI7B6ukfg_XWQGCA-
KVv6pPo_YDu4NVqWK3ROPo_hmwDrFQyvvdNY923hrUDdljxAeUdJgxfMlFh32OOK81zLbNs98lSApqWU
H7bKTQu8i9nnEdQ3xlsudarjnzOz-VxRjdv9XTQ2J95QzG8-haP-
JHRNT2nHWpJiTJERkx_Y6taSioIm8KihPHJkbNiuxDpUXV3pVY2UMYY_zOEs-
YVryMfQYHmVThX96jfShZ702OPFCVtCC53G_SaniGDjSsRjiw-
O5hVvO5zayBHFnRUicbcL9KK51fnuRtwLh_ZlErVX6DClg6nrXHtscAKFYeEKZo5PNbC3vQYE3brM0CF
umuW2iV1z3hQsQyyyZV_QKLr0_LPbO2boM8CTLDwyVHq9fNIQSNiv_SsYRmyBGSUFNIaoQMApaxSS8yd
Q9hUlqDGEg_0fIkQ-h3tc0V-F_rtU9QWYOsy5k-
l5cAmgeZ094i3bb10vMY6XT9EBsc33TUd5ZHRkvl_KMU-GcnTOXN9Jo0IQATwoGYWYMJcxPTpeuR-
C24r5m087yUXp7hrWoSvfuehTk5D_WBxr_-6q0ZnvhnfwSUccI5My8-
hiJD402Mj0EQ2DcjrPbiRghwlZE5xVAqvPvyDVEqwi0meFcnGIrJuRepy6eZNfV2SE9Cj8VZZVo0-
HCsryRxgoiyczVSNawq8rT1Jec5XIsBVc3j9jjexBOir96clTz9POsq2W_E6nO5Pc2E9TAfisSOGfLRh
e3DxBhs-qClaNhqm1eOFLHQl4a_nT3qSWc7MMiB-
tSMTVL12pfzIvwvNx8qTB4jftkmbTx0pqvvSz_7iulVeXWm7OjmINLzmVYU4be06iee_H9ztN5OdF7jt
_vu3v0-vc2ucp07pXzm9Qt93Qw38sk9-vGuIZlbr5Cbs_DMf-
RMfMvXkm9lM8O7MVqgY1X6oLj7lOp2HD2LA1Jwfi4Mg2M1sY1MLtnD1NhXgBrpBQY8JsvzXOqrvsU6DW
A9cfeqc5gI5p7fSA0Dwgc4IfZAhh2Y_ZT01vmlbIi5RR530Ld0n_01If0Hxnyh74m3ydYDPSy8jhcZOM
SqGpqxe6_6uP7EzoIBueZ0blwDsxKt6Pb97ufIqJXJV8LyUQD-5mGWnw)
www.baltichorizon.com
(https://www.globenewswire.com/Tracker?data=Dtx9Id7muXerMQ1fx3TF6_GNE2mtZ34oVhL_
FJxw05f-TCUD5oW2KOmFaD4cvul997bhl2lLrGtslNbDY4qCP2ReMEGOIy4gW-
seug82g0_V6JQ8burbcurjE9ud6Z4m0jLlm7hRpj7sSvvDQgkfz9d0fMJiSq4Kw-
qbhnUuMS3sh06423jNV5LLijZ3sFbCOr3FhGqfuWGRmpW3yLc26LOUIb6YuF1mNT90_oAVNjnTNnzTWC
vOqbc65cBzuVdvoheQyB6IAtrByrEJiZP3a0OaK1c65_zaeOyZ1MC4Lu2ZMwSMZnm6vqjQzCyqTIYPWm
v8bDwtFO9XZINDDBXLYLC7qRjDGVyoggYOyvTlpQAvfH6yAlZbkjYFGEYoyga_Uf2LQSEMNZqYDq9c3D
LEnuo9pYib_3RY7B0B-GFilLK0Rchr2X5lWodZK6A84CJ89O1pepe6HdPR-
TQJdvUz3QRnYEr43VDg9ogtu_RNRfC4NxUuPV-w94GVINXTSI459qJRUaaq_CDxK0xycLCcXx6zqQ-
xz9yrQgK7yd_PmHXktXjDvUhk-DS-zsB-fBsgXOu3871Adtz804-0U1pZA3Cqg9pkPsBELPkG3Rb2-
FfuKNOgGsjSUJ5CDKh_hF1T1JQsJVcCaF0dl9n_vbiNsTmnb1QQKfn83Af7g8cbcLCwUm-
H6BP80dL2TfIsomEH4a7IC37E9UPxLQbw-
6ByZd6Fq74RY1TihN_77z36veUSPWhXOvLaG9FvoIOSFNDoJz5NwJdlh48pYKbPPAqzdwEfxdTaiNWfE
LyzBoHAsXsfL2LlkBXSZLD7e-
X78bTAJJeQUgOkho6TZjbIETFknRwHntipb0QtcIxC7BpfBTWVDsPD7225-
IEHNhDLGy0VYNN1miPxrAf5HJBRVP1_kxIDqOYKz_0KjqV7ubg2Pdu-
FJziuobe2ikb7eO76Kt2l4mhl4rbSTyGY3t4DcP2Oxb_-
5kmT7sK3mklxz61WSlpYyXuFKsvGj08AMVg9h0n8rodELl_gp31MP6ULSAod69EWVcNhYGF5kch4rimy
XCZngsPhHidYNvksXQQtKOMQWFu0j9TpmAtzj-
acf4i_oyX9BxNLsE0FM2RaVy17CoAjE6aefXh7zVkfGzZgZlEBRnDgR7n1n5WvfqFhiVzKV03RjvzrRW
81AfRBukT2klcwfjHlxlUdiqlm94c8HgtQxcEcxq9T7-
Tp0YrZG7Bi1i1W631h8j6nuEP_LQ9lNURtRHCyUED-
MTs4AfRTkfCxCLM0E89jb10YPhiQY_fizTGNQlTF7EDmBHiYk38TWP1uDLnt3hxTq7dUnmgR7rIeiGag
2YO6U0QT1PRp5DOuVUAJITZ0y54mtgua9VzvhRL0ddLhDIzdIF5k2Xj2HjzGUuDiMeKKY53E-
XgEVg4RvwOwYrkaRJeZXy-
gHU7LDTy9H0dYJ1oLlAVIVEzDke8igyRtkrInitvwuOMkLDog1b5WO7zhvDMK4VbHTcKljmUmQYk5bmc
wZwBelSzOahpxsU-
Pdi4mhnP5dxvWQ7iNsOLj6gKRH18CNTJU2I3utbTZhyFx3331HzmeC0A8EOBvIzjJH_Ju8AGQNC2CsgR
y8uLVPfPNqhmc6ekxp_p2hRa9YfiAtLHuYrvBItJ7xuyninyJ6ugpBEsJSTzeLeeFE_5ymXvcjSFkkit
s2W6LD9074zHwZ-Uhb3O7XtztCGlflSOj-
BqPGzViznM8jwhgPGeFMVj64rrPnlULnOvvhYF7ZSUBtOaSP5fKJ1FQH8ltAGnrh40sRAoAlZ7OqJvCK
hiWOzOK8oNNmxXShg89nRFFfEaBbSwRI_rjgkp4u9p4lJA4f9kwzxOhSm4AiTW4U1y76RDMyB0hcS03K
iocI2yg-I-PBxsKRm5Bj7K5ZvidctxwD2FpBm3TD9EwpXn-tkRnJGQcN-
fQxNdo1NPt_yVlW1J2G7u05sdB0DNdAkH9vqE4ozM-gslmsMiisS4yuc9bKz-
Rxvle5ony2YJ2hlU_v8IXvl324x9g)

Baltic Horizon Fond on registreeritud lepinguline avalik kinnine kinnisvarafond,
mida valitseb alternatiivfondivalitseja Northern Horizon Capital AS.
Avaldamine: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm,
www.baltichorizon.com

Teate sisu inglise keeles

Pealkiri

Baltic Horizon Fund publishes its NAV for August 2020

Teade

Net asset value (NAV) of Baltic Horizon Fund (the Fund) unit as at end of August
2020 amounted  to EUR 1.2181 per unit. Total net asset value of the Fund rose to
EUR  138.1 million over the month. Compared to the previous month, NAV increased
by  +0.69%. The  NAV  was  affected  positively  by the operating performance of
properties and cash flow hedge movement during the month. EPRA NAV, EPRA NRV and
EPRA  NTA  as  at  the  end  of  August  2020 increased  to EUR 1.3060 per unit,
corresponding to an increase of +0.63% over the last month.

Consolidated  net rental income for  the first 8 months of  the year amounted to
EUR  13.6 million, exceeding the previous year's  net rental income for the same
period  by EUR 1.8 million  or +15.3% (EUR 11.8 million  during the eight months
ended  31 August  2019). The  strong  growth  was  driven by the acquisitions of
Galerija  Centrs and North Star, which had  a positive effect on the Group's net
rental income growth in 2020 as compared to 2019, albeit rental income growth in
2020 slowed  down due to relief measures granted to tenants during the COVID-19
pandemic.  The direct  impact of  the COVID-19 health  crisis on  the net rental
income  in  August  2020 was  limited  to  temporary  rent reductions for mostly
affected tenants in the amount of EUR 0.14 million, which is significantly lower
compared to the months in Q2 2020. The Fund earned an unaudited consolidated net
profit of EUR 0.9 million in August 2020.

At  the end  of August  2020, the Fund's  consolidated cash and cash equivalents
amounted  to  EUR  7.1 million  (31  December  2019: EUR  9.8 million)  which is
sufficient  to cover the Fund's liquidity needs. Improving rent collection rates
had  a positive impact on the Fund's cash balance, while the distribution of EUR
1.7 million  to investors in August 2020 contributed to the decrease in cash and
cash  equivalents  during  the  month.  In  total,  the  Fund's  cash  and  cash
equivalents  decreased by  EUR 1.4 million  during August 2020. After successful
negotiations  with the tenants, the Fund's management team has managed to reduce
the trade receivables from EUR 3.3 million as at the end of May 2020 to EUR 1.6
million as at the end of August 2020.

During  August 2020, the Fund complied with all special conditions and covenants
set  under  the  bank  loan  agreements  and  bond  issue  terms and conditions.
Furthermore,  the Fund has  honored all of  its borrowing obligations during the
entire COVID-19 pandemic.

The  Management  Company  of  the  Fund  will  continue  to actively monitor the
economic impact of the COVID-19 pandemic.

Additional information:

Tarmo Karotam
Baltic Horizon Fund manager
E-mail [email protected]
(https://www.globenewswire.com/Tracker?data=uMlftpVUP59vcFGbVHHzr_KcjChy3SCrD-
dLLbKTf0tYKkwB7G6reju32f7rd8ox82AC6Fn9dBPVvf3Ds42Jh3HUJLP5jcLLX8sWJsVvChk=)
www.baltichorizon.com
(https://www.globenewswire.com/Tracker?data=GSQVye1bgzTst_zGKIpP26VIk1zPIzIgVMWj
ti3i1cf-4E0NoN4fd-0Tfskl1CsTlTHoZAL_uWoEIZ8vsfyPcNQbnnYeu2x_1pKetGZPyYM=)

The Fund is a registered contractual public closed-end real estate fund that is
managed by Alternative Investment Fund Manager license holder Northern Horizon
Capital AS. Both the Fund and the Management Company are supervised by the
Estonian Financial Supervision Authority.

Distribution:  GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm,
www.baltichorizon.com