Börsiteade
EfTEN United Property Fund / EFTEN Capital AS
Kategooria
Juhtkonna vaheteadaanne või kvartaalne finantsaruanne
Manused
Kuupäev
08.02.2024 08:05:00
Pealkiri
EfTEN United Property Fund 2023. aasta IV kvartali ja 12 kuu auditeerimata majandustulemused
Teade
EfTEN United Property Fund teenis 2023. aastal 60 tuhat eurot tulusid (1,67
miljonit 2022. aastal). Kui intressitulud kasvasid aastaga 228 tuhande euro ja
dividenditulud 150 tuhande võrra, siis kogutulude vähenemine oli seotud
investeeringute mitterahalise allahindlusega. Investeeringute ümberhindluselt
teenis fond 2023. aastal 828 tuhat eurot kahjumit (1,15 miljonit eurot kasumit
2022. aastal).
Investeeringute allahindlus oli eelkõige seotud intressimäärade tõusust tuleneva
diskontomäära tõusuga ja fondi investeeringuga EfTEN Real Estate Fund AS-i
aktsiatesse, mille turuhind Tallinna Väärtpaberiturul langes aastaga 4%.
Investeeringute allahindluse tulemusena teenis fond 2023. aastal 179 tuhat eurot
kahjumit (1,44 miljonit eurot kasumit 2022. aastal), millest 620 tuhat eurot
tulenes EfTEN Real Estate Fund AS-i aktsia börsihinna muutumisest. EfTEN Real
Estate Fund AS-i aktsia kajastamisel tema puhasväärtuses (NAV) oleks fond
teeninud 2023. aastal 97 tuhat eurot kasumit.
Fondi ärikinnisvara investeeringud säilitasid 2023. aastal positiivse rahavoo,
mis võimaldab fondil jätkata regulaarset tulu jaotamist ka 2024. aastal. Hetke
seisuga plaanib fondivalitseja eeloleval aastal teha EfTEN United Property
Fund'st investoritele kaks väljamakset. Esimese hiliskevadel, kui on laekunud
alusfondidest saadavad dividendid ning teise sügisel kui laekuvad laenukapitali
vormis tehtud investeeringutest teenitud intressid ja laenude võimalike
refinantseerimistega vabanevad täiendavad vahendid.
Koondkasumiaruanne
+----------+-----------+
|IVkvartal | 12 kuud |
+-----+----+-----+-----+
|2023 |2022|2023 |2022 |
+-------------------------------------------------------+-----+----+-----+-----+
|EUR tuhandetes | | | | |
+-------------------------------------------------------+-----+----+-----+-----+
|TULUD | | | | |
+-------------------------------------------------------+-----+----+-----+-----+
|Intressitulu | 152| 88| 536| 308|
+-------------------------------------------------------+-----+----+-----+-----+
|Dividenditulud | 0| 0| 352| 212|
+-------------------------------------------------------+-----+----+-----+-----+
|Neto kasum / kahjum õiglases väärtuses muutusega läbi | | | | |
|koondkasumiaruande kajastatud varadelt | -194| 239| -828|1 148|
+-------------------------------------------------------+-----+----+-----+-----+
| Tütarettevõtetelt | -68|-381| -98| -199|
+-------------------------------------------------------+-----+----+-----+-----+
| Alusfondidelt | -126| 620| -730|1 346|
+-------------------------------------------------------+-----+----+-----+-----+
|Tulud kokku | -42| 327| 60|1 668|
+-------------------------------------------------------+-----+----+-----+-----+
| | | | | |
+-------------------------------------------------------+-----+----+-----+-----+
|KULUD | | | | |
+-------------------------------------------------------+-----+----+-----+-----+
|Tegevuskulud | | | | |
+-------------------------------------------------------+-----+----+-----+-----+
| Valitsemistasud | -30| -28| -115| -96|
+-------------------------------------------------------+-----+----+-----+-----+
| Fondi administreerimise kulud | -5| -2| -34| -90|
+-------------------------------------------------------+-----+----+-----+-----+
| Muud tegevuskulud | -15| -13| -90| -44|
+-------------------------------------------------------+-----+----+-----+-----+
|Tegevuskulud kokku | -50| -43| -239| -229|
+-------------------------------------------------------+-----+----+-----+-----+
| | | | | |
+-------------------------------------------------------+-----+----+-----+-----+
|Ärikasum/ -kahjum | -92| 284| -179|1 439|
+-------------------------------------------------------+-----+----+-----+-----+
|Aruandeperioodi puhaskasum /-kahjum | -92| 284| -179|1 439|
+-------------------------------------------------------+-----+----+-----+-----+
| | | | | |
+-------------------------------------------------------+-----+----+-----+-----+
|Tava- ja lahustatud kasum / -kahjum osaku kohta | | | | |
|(eurodes) |-0,04|0,11|-0,07| 0,66|
+-------------------------------------------------------+-----+----+-----+-----+
Finantsseisundi aruanne
+----------+----------+
|31.12.2023|31.12.2022|
+--------------------------------------------------------+----------+----------+
|EUR tuhandetes | | |
+--------------------------------------------------------+----------+----------+
|VARAD | | |
+--------------------------------------------------------+----------+----------+
|Käibevarad | | |
+--------------------------------------------------------+----------+----------+
|Raha ja raha ekvivalendid | 5 731| 8 769|
+--------------------------------------------------------+----------+----------+
|Lühiajalised hoiused | 1 795| 0|
+--------------------------------------------------------+----------+----------+
|Muud nõuded ja viitlaekumised | 711| 385|
+--------------------------------------------------------+----------+----------+
|Käibevarad kokku | 8 237| 9 154|
+--------------------------------------------------------+----------+----------+
| | | |
+--------------------------------------------------------+----------+----------+
|Põhivarad | | |
+--------------------------------------------------------+----------+----------+
|Finantsvarad õiglases väärtuses muutusega läbi kasumi | | |
|aruande | 12 354| 12 942|
+--------------------------------------------------------+----------+----------+
| Investeeringud tütarettevõtjatesse | 1 054| 1 152|
+--------------------------------------------------------+----------+----------+
| Alusfondidesse | 11 300| 11 790|
+--------------------------------------------------------+----------+----------+
|Antud laenud | 5 668| 5 376|
+--------------------------------------------------------+----------+----------+
|Põhivarad kokku | 18 022| 18 318|
+--------------------------------------------------------+----------+----------+
|VARAD KOKKU | 26 259| 27 472|
+--------------------------------------------------------+----------+----------+
| | | |
+--------------------------------------------------------+----------+----------+
|KOHUSTUSED | | |
+--------------------------------------------------------+----------+----------+
|Lühiajalised kohustused | 3| 586|
+--------------------------------------------------------+----------+----------+
|Kohustused kokku, v.a osakuomanikele kuuluv fondi vara | | |
|puhasväärtus | 3| 586|
+--------------------------------------------------------+----------+----------+
| | | |
+--------------------------------------------------------+----------+----------+
|FONDI VARA PUHASVÄÄRTUS | | |
+--------------------------------------------------------+----------+----------+
|Osakuomanikele kuuluv fondi vara puhasväärtus | 26 256| 26 886|
+--------------------------------------------------------+----------+----------+
|Kohustused ja osakuomanikele kuuluv fondi vara | | |
|puhasväärtus kokku | 26 259| 27 472|
+--------------------------------------------------------+----------+----------+
EfTEN United Property Fund 2023. aasta IV kvartali ja 12 kuu auditeerimata
majandustulemused on leitavad fondi kodulehel:
https://eftenunitedpropertyfund.ee/aruanded-ja-dokumendid/
Fondivalitseja EfTEN Capital AS viib EfTEN United Property Fund´i tulemuste ja
ettevaate tutvustamiseks 15.02.2024, algusega kell 13:00 (EET) läbi
internetipõhise inglise keelseveebiseminari. Huvilistel on võimalik küsimusi
esitada nii veebiseminari ajal kui ka sellele eelnevalt saates need ette
hiljemalt 14. veebruaril kella 17.00-ks (EET) e-kirja teel: united@eften.ee
(mailto:united@eften.ee). Veebiseminaril osalemiseks palume registreeruda
aadressil:
https://nasdaq.zoom.us/webinar/register/WN_hE6LlryURl2BpwsgmunLYQ#/registration.
Osalejatele saadetakse üks tund enne veebiseminari algust meeldetuletuseks e-
kiri. Veebiseminar salvestatakse ja avalikustatakse fondi kodulehel
https://eftenunitedpropertyfund.ee ning YouTube kanalis.
Kristjan Tamla
Tegevjuht
Tel: 655 9515
E-post: kristjan.tamla@eften.ee (mailto:kristjan.tamla@eften.ee)
Pealkiri
EfTEN United Property Fund unaudited financial results for the 12 months and 4th quarter of 2023
Teade
EfTEN United Property Fund earned 60 thousand euros of revenue in 2023 (1.67
million in 2022). While interest income increased by 228 thousand euros and
dividend income by 150 thousand, the decrease in total income was related to the
non-monetary revaluation of investments. From the revaluation of investments,
the fund earned a loss of 828 thousand euros in 2023 (1.15 million euros profit
in 2022).
The downward valuation on investments was primarily related to the increase in
the discount rate due to higher market interest rates and the fund's investment
in the shares of EfTEN Real Estate Fund AS, which price on the Tallinn Stock
Exchange fell by 4% over the year. As a result of the revaluation, the fund
earned a loss of 179 thousand euros in 2023 (1.44 million euros profit in
2022), of which 620 thousand euros resulted from the change in the stock market
price of EfTEN Real Estate Fund AS. If the shares of EfTEN Real Estate Fund AS
were reflected in its net asset value (NAV), the fund would have earned 97
thousand euros in profit in 2023.
The fund's commercial real estate investments maintained a positive cash flow in
2023, which allows the fund to continue distributing regular income in 2024. As
of now, the fund management company plans to make two distributions to investors
from the EfTEN United Property Fund in the coming year. The first in the late
spring, when the dividends from the underlying funds have been received, and the
second in the fall, when the interest earned from the investments made in the
form of loan capital is received and the additional funds will be released by
the possible refinancing of the loans.
Statement of the comprehensive income
+----------+-----------+
| 4th | |
| quarter | 12 months |
+-----+----+-----+-----+
|2023 |2022|2023 |2022 |
+-------------------------------------------------------+-----+----+-----+-----+
|EUR thousand | | | | |
+-------------------------------------------------------+-----+----+-----+-----+
|INCOME | | | | |
+-------------------------------------------------------+-----+----+-----+-----+
|Interest income | 152| 88| 536| 308|
+-------------------------------------------------------+-----+----+-----+-----+
|Dividend income | 0| 0| 352| 212|
+-------------------------------------------------------+-----+----+-----+-----+
|Net profit / loss from assets recognised in fair value | | | | |
|through profit or loss | -194| 239| -828|1 148|
+-------------------------------------------------------+-----+----+-----+-----+
| Investments in subsidiaries | -68|-381| -98| -199|
+-------------------------------------------------------+-----+----+-----+-----+
| Investments in funds | -126| 620| -730|1 346|
+-------------------------------------------------------+-----+----+-----+-----+
|Total income | -42| 327| 60|1 668|
+-------------------------------------------------------+-----+----+-----+-----+
| | | | | |
+-------------------------------------------------------+-----+----+-----+-----+
|COSTS | | | | |
+-------------------------------------------------------+-----+----+-----+-----+
|Operating expenses | | | | |
+-------------------------------------------------------+-----+----+-----+-----+
| Management fee | -30| -28| -115| -96|
+-------------------------------------------------------+-----+----+-----+-----+
| Costs of administering the Fund | -5| -2| -34| -90|
+-------------------------------------------------------+-----+----+-----+-----+
| Other operating expenses | -15| -13| -90| -44|
+-------------------------------------------------------+-----+----+-----+-----+
|Total operating expenses | -50| -43| -239| -229|
+-------------------------------------------------------+-----+----+-----+-----+
| | | | | |
+-------------------------------------------------------+-----+----+-----+-----+
|Profit / loss for the period | -92| 284| -179|1 439|
+-------------------------------------------------------+-----+----+-----+-----+
|Total profit / loss for the period | -92| 284| -179|1 439|
+-------------------------------------------------------+-----+----+-----+-----+
| | | | | |
+-------------------------------------------------------+-----+----+-----+-----+
|Ordinary and diluted earnings / loss per share (EUR) |-0,04|0,11|-0,07| 0,66|
+-------------------------------------------------------+-----+----+-----+-----+
Statement of financial position
+----------+----------+
|31.12.2023|31.12.2022|
+--------------------------------------------------------+----------+----------+
|EUR thousand | | |
+--------------------------------------------------------+----------+----------+
|ASSETS | | |
+--------------------------------------------------------+----------+----------+
|Current assets | | |
+--------------------------------------------------------+----------+----------+
|Cash and cash equivalents | 5 731| 8 769|
+--------------------------------------------------------+----------+----------+
|Short-term deposits | 1 795| 0|
+--------------------------------------------------------+----------+----------+
|Other receivables and accrued income | 711| 385|
+--------------------------------------------------------+----------+----------+
|Total current assets | 8 237| 9 154|
+--------------------------------------------------------+----------+----------+
| | | |
+--------------------------------------------------------+----------+----------+
|Non-current assets | | |
+--------------------------------------------------------+----------+----------+
|Financial assets at fair value through profit or loss | 12 354| 12 942|
+--------------------------------------------------------+----------+----------+
| Investments in subsidiaries | 1 054| 1 152|
+--------------------------------------------------------+----------+----------+
| Real estate funds | 11 300| 11 790|
+--------------------------------------------------------+----------+----------+
|Loans granted | 5 668| 5 376|
+--------------------------------------------------------+----------+----------+
|Total non-current assets | 18 022| 18 318|
+--------------------------------------------------------+----------+----------+
|TOTAL ASSETS | 26 259| 27 472|
+--------------------------------------------------------+----------+----------+
| | | |
+--------------------------------------------------------+----------+----------+
|LIABILITIES | | |
+--------------------------------------------------------+----------+----------+
|Current liabilities | 3| 586|
+--------------------------------------------------------+----------+----------+
|Total liabilities, excluding net asset value of the fund| | |
|attributable to shareholders | 3| 586|
+--------------------------------------------------------+----------+----------+
| | | |
+--------------------------------------------------------+----------+----------+
|NET ASSET VALUE OF THE FUND | | |
+--------------------------------------------------------+----------+----------+
|Net asset value of the fund attributable to shareholders| 26 256| 26 886|
+--------------------------------------------------------+----------+----------+
|Total liabilities and net asset value of the fund | | |
|attributable to shareholders | 26 259| 27 472|
+--------------------------------------------------------+----------+----------+
The unaudited 4(th) quarter and 12 months report of the EfTEN United Property
Fund can be found on the fund's website:
https://eftenunitedpropertyfund.ee/en/reports-documents/
EfTEN Capital AS will hold a webinar in English on 15.02.2024, starting at
13:00 (EET), to introduce the results and outlook of the EfTEN United Property
Fund. Questions can be asked during the webinar as well as by sending them in
advance by e-mail at: united@eften.ee (mailto:united@eften.ee) no later than
February 14 at 17:00 (EET). To participate in the webinar, please register at:
https://nasdaq.zoom.us/webinar/register/WN_hE6LlryURl2BpwsgmunLYQ#/registration.
Participants will be sent a reminder email one hour before the start of the
webinar. The webinar will be recorded and made public on the fund's website
https://eftenunitedpropertyfund.ee and on the YouTube channel.
Kristjan Tamla
Managing Director
Phone 655 9515
E-mail: kristjan.tamla@eften.ee (mailto:kristjan.tamla@eften.ee)