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

8944

Esitamise kuupäev ja aeg

15.07.2021 23:45:00

Teate sisu eesti keeles

Pealkiri

Baltic Horizon Fond avaldab osaku puhasväärtuse 2021. aasta juuni seisuga

Teade

2021. aasta juuni auditeerimata konsolideeritud üüritulu oli 1,7 miljonit eurot,
mis vastab märkimisväärsele üüritulu neto suurenemisele võrreldes eelmise kuuga
0,5 miljoni euro võrra (1,2 miljonit eurot 2021. aasta mais). Renditulude kasvu
mõjutas tugevalt fondi kaubanduskeskuste tugev taastumine pärast COVID-19
piirangute kaotamist Baltikumis. Viimastel kuudel on kaubanduskeskuste käive ja
külastatavus kasvanud. Kontorisegmendi puhas renditulu jäi kuuga stabiilseks.
Fond kajastas 2021. aasta juuni auditeerimata konsolideeritud puhaskahjumit
12,3 miljonit eurot. Täituvus oli 30. juuni 2021 seisuga tugev 94,0%. Üldine
üüri kogumine oli positiivne ning 2021. majandusaasta jooksul on seni kogutud
89,5% üüriarvetest.

2021. aasta juuni lõpus moodustas Fondi konsolideeritud raha ja raha
ekvivalendid 15,5 miljonit eurot (31. detsember 2020: 13,3 miljonit eurot), mis
näitab head likviidsust ja finantsilist paindlikkust. Fond plaanib ülejäänud
aasta jooksul investeerida osa olemasolevast rahast arendusprojektidesse.
Vaatamata COVID-19 laine ajal üürnikele antud üürisoodustustele teenib Fond
jätkuvalt stabiilset positiivset rahavoogu.

Baltic Horizon Fondi (Fond) osaku puhasväärtus (NAV) 2021. aasta juuni lõpu
seisuga on 1,0439 eurot osaku kohta. Fondi osaku puhasväärtus võrreldes eelneva
kuu lõpu seisuga on langenud -8.93%. Fondi kogu puhasväärtus kahanes kuuga
124,9 miljoni euroni. NAVi mõjutas suuresti kinnisvarainvesteeringute väärtuse
langus, mis oli tingitud COVID-19 tõttu langetatud prognoosidest ning kus
kasutati konservatiivsemaid vaateid rahavoogudele, millest tulenevalt langes
portfelli väärtus. Negatiivse mõju puhasväärtusele kompenseeris
kinnisvarainvesteeringute tugev renditulude taastumine. EPRA NRV 2021. aasta
juuni lõpu seisuga kahanes 1,1176 euroni osaku kohta, mis tähendab -9.01%
langust viimase kuuga.

2021. aasta juunist viib portfelli hindamise läbi uus sõltumatu
kinnisvarahindaja Colliers (varem Newsec Baltics). 30. juuni 2021 seisuga
vähenes Baltic Horizon Fundi portfelli õiglane väärtus 328,4 miljoni euroni (31.
detsember 2020: 340,0 miljonit). 2021. aasta juunis põhjustas portfelli
ümberhindlus õiglase väärtuse kadu 14,3 miljonit eurot (-4,1% portfelli
väärtusest) peamiselt jaemüügiturgude üüridega seotud ebakindluse tõttu, mille
põhjustas COVID-19 pandeemia ja arendusprojektide ajutine devalveerimine.
Oodatakse, et arenduspotentsiaaliga kinnisvara hindamine paraneb pärast kõigi
kavandatud tööde lõppu ja üürituru taastumisel COVID-19 pandeemiast. Kiired
vaktsineerimised ja leevendatud  piirangud peaksid eelseisvatel kuudel olema
kinnisvara hindamiste jaoks tugevaks pöördepunktiks. Võrreldes varasemate
hindamistega oli portfelli langus tingitud peamiselt renditulu ja rahavoogude
prognooside korrigeerimisest. Muud eeldused jäid 2020. aasta lõpu hinnangutega
sarnaseks. Kinnisvara hindamiste kokkuvõte avaldatakse fondi veebilehel.
Lisateavet esitatakse poolaastaaruandes.

30. juuni 2021 seisuga oli Fondi konsolideeritud varade kogumaht 346,9 miljonit
eurot (31. detsember 2020: 355,6 miljonit eurot).

Lisainformatsiooni saamiseks palume ühendust võtta:

Tarmo Karotam
Baltic Horizon Fond, fondijuht
E-mail [email protected]
(https://www.globenewswire.com/Tracker?data=Aq7eFsHivmk2iGrO8RsZXimw66nqB06jZVlC
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www.baltichorizon.com (https://www.globenewswire.com/Tracker?data=IUXMSR-
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pAJPy80pyT_Bm-Wz8OHEki5PZg1oQ7-4fnVmTneIFtzsKRzbqYe)

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 June 2021

Teade

Unaudited  consolidated net  rental income  for June  2021 amounted to  EUR 1.7
million,  corresponding to a large net rental income increase of EUR 0.5 million
compared  to the previous month (EUR  1.2 million in May 2021). The increase was
heavily  influenced by  a strong  recovery of  the Fund's shopping centres after
lifted COVID-19 restrictions in the Baltics. BHF portfolio shopping centres have
been  showing  increasing  footfall  and  turnover  figures for the past several
months.  Net  rental  income  of  the  office segment remained stable during the
month.  The  Fund  recognized  an  unaudited  consolidated net loss of EUR 12.3
million  in June  2021. The Portfolio  occupancy rate  as of  30 June 2021 stood
strong  at  94.0%. Overall  rent  collection  remained commendable with 89.5% of
invoiced rent collected to date for the 2021 financial year.

At  the  end  of  June  2021, the  Fund's consolidated cash and cash equivalents
amounted   to  EUR  15.5 million  (31  December  2020: EUR  13.3 million)  which
demonstrates  sufficient  liquidity  and  financial  flexibility.  The  Fund  is
planning  to  invest  outstanding  cash  to  (re)development projects during the
remaining  year. The Fund  continues to generate  strong positive cash flow from
operations despite market uncertainty associated with COVID-19.

The  net asset value (NAV) of Baltic Horizon Fund (the Fund) unit at end of June
2021 amounted  to EUR 1.0439 per  unit. Compared to  the previous month, NAV per
unit  decreased by -8.93%. The total net asset  value of the Fund dropped to EUR
124.9 million  over the  month. The  NAV was  largely affected  by a decrease in
values  of investment properties due to COVID-19 induced downward assumptions on
(re)development  projects and a more conservative  view on cash flows in several
properties.  The negative impact on  the NAV was offset  by a strong recovery of
operating  performance of  investment properties.  EPRA NRV  by the  end of June
2021 decreased  to EUR  1.1176 per unit,  corresponding to  a decrease of -9.01%
over the last month.

From June 2021, the portfolio valuations are conducted by a new independent real
estate  appraiser Colliers (previously Newsec  Baltics). As of 30 June 2021, the
fair  value of the Baltic Horizon  Fund portfolio decreased to EUR 328.4 million
(31  December  2020: 340.0 million).  In  June  2021, the  portfolio revaluation
resulted  in a  fair value  loss of  EUR 14.3 million (-4.1% of portfolio value)
primarily  due to the uncertainty associated with rents in retail markets caused
by  COVID-19 pandemic  and  temporary  devaluation  of (re)development projects.
Valuations  of properties with (re)development potential are expected to improve
after all planned works are completed and as the rental market recovers from the
COVID-19 pandemic.  Rapid  vaccinations  and  lifted  lockdowns should present a
strong  turning point  for valuations  in the  upcoming months.  Compared to the
previous  valuations, the change in the portfolio valuation was mainly driven by
downward  adjustments to  present net  rental income  and cash flow projections.
Other  assumptions remained similar to  2020 year-end valuations. The summary of
property  valuations will be  published on the  Fund`s webpage. More information
will be provided in the semi-annual report.

As  of 30 June  2021, the total  consolidated assets  of the  Fund stood  at EUR
346.9 million (31 December 2020: EUR 355.6 million).

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