Börsiteade
EfTEN Real Estate Fund AS
LEI kood
4851000008JBI71L7643
Emitendi suuruskategooria
Keskmise suurusega kontsern
Majandustegevusalad
Finants- ja kindlustustegevus
Sektor(id)
Fondivalitseja
Emitendi registreeritud asukoht
Eesti
Üldandmed
Teadet on parandatud.
Parandatud versioon
Kategooriad
Muud korporatiivtoimingud
Teate ID
7599
Manused
Esitamise kuupäev ja aeg
26.11.2019 12:36:18
Teate sisu eesti keeles
Pealkiri
UPP Olaines OÜ 2019. aasta III kvartali ja 9 kuu konsolideeritud auditeerimata vahearuanne
Teade
2019. aasta kolmanda kvartali ('III kv 2019') tegevusaruanne
2019. III kvartali jooksul oli ettevõtte ärikasum 634 901 eurot ning 2019. aasta
esimese 9 kuu jooksul oli ärikasum kokku 1 879 700 eurot. Võrreldes 2018. III
kvartaliga on ärikasum suurenenud 6,3% võrra ning võrreldes 2018. aasta esimese
9 kuuga on ärikasum kasvanud 7,6% võrra. Kvartali tasemel seletab kasvu
peamiselt III kv 2018 tehtud muudatus seoses eelnevate perioodide vea
korrektsiooniga. 9 kuu tasemel seletab kasvu eelkõige üürihinna indekseerimine
ning administratiivkulude langus.
III kv 2019 jooksul olid ettevõtte finantskulud 323 574 eurot ning 2019. aasta
9 kuu jooksul olid ettevõtte finantskulud 1 111 940 eurot. Võrreldes III kv
2018'ga on finantskulud tõusnud 60% ning võrreldes 2018. aasta 9 kuuga on
finantskulud vähenenud 6.6%. Kvartaalsel tasemel toimunud 60% tõusu seletab III
kv 2018 ebaharilikult madal finantskulu, mis tulenes intressiswap-i õiglase
väärtuse olulisest muutusest. Kuna finantskulu kajastab intressi-swapi õiglase
väärtuse muutusi võib kvartaalselt finantskulu oluliselt suureneda või väheneda.
Pikema perioodi võrdlemine annab parema pildi ettevõtte kapitalikulu trendiest.
Ettevõtte äritegevuseks on renditulu kogumine, kinnisvaraobjekti haldamine ning
laenukohustuste teenindamine. Laenukohustused moodustavad fikseeritud intressiga
võlakirjad ning investeerimislaen, mille intress on samuti
intressituletuslepinguga fikseeritud. Tulude poolel on stabiilne triple-net
renditulu tugevatelt rentnikelt, mis on põhiosas fikseeritud kesk-pikkade
lepingutega ning mida indekseeritakse vastavalt inflatsioonile. Tulenevalt
ettevõtte äritegevusest on tema majandustegevus ja finantstulemused üldiselt
raskesti mõjutatavad erinevate väliste tegurite poolt.
Muid olulisi sündmusi peale regulaarsete operatiivtegevuste, sh õigeaegsete
üüri- ning kommunaaltasude laekumiste, III kv 2019 ei olnud. III kv 2019 lõpu
seisuga kinnisvaraobjektil vakantsus puudub.
2019. aasta 9 kuu finantsilised võtmenäitajad
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(eurodes) III kv 2019 III kv 2018 9 kuud 2019 9 kuud 2018
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Neto renditulu 642 452 599 759 1 933 970 1 877 856
Ärikasum 634 901 596 731 1 879 700 1 745 645
Perioodi kasum 311 327 392 785 767 760 557 274
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(eurodes) 30.09.2019 31.12.2018
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Kinnisvarainvesteering 30 762 000 30 762 000
Intressikandvad laenud 28 958 633 29 656 633
Intressikandvad laenud ilma
omanikulaenuta 25 910 333 26 608 333
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9 months 2019
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Puhaskasumi marginaal, % (Puhaskasum / Puhas renditulu) 40%
ROA (Puhaskasum / Perioodi keskmised varad) 2,4%
DSCR (Ärikasum / Intressikandvate laenude põhiosa
tagasimaksed ning intressimaksed) 1,3
KONSOLIDEERITUD VAHEARUANNE
Konsolideeritud koondkasumi vahearuanne
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(eurodes) Lisa III kv 2019 III kv 2018 9 kuud 2019 9 kuud 2018
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Neto renditulu 5 642 452 599 759 1 933 970 1 877 856
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Neto renditulu 642 452 599 759 1 933 970 1 877 856
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Üldhalduskulud (7 551) (3 028) (39 270) (132 211)
Muud tulud / (kulud) 0 0 (15 000) 0
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Ärikasum 634 901 596 731 1 879 700 1 745 645
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Finantstulud / (kulud) (323 574) (203 946) (1 111 940) (1 188 371)
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Kasum enne tulumaksu 311 327 392 785 767 760 557 274
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Aruandeperioodi kasum 311 327 392 785 767 760 557 274
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Aruandeperioodi
koondkasum kokku 311 327 392 785 767 760 557 274
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Konsolideeritud finantsseisundi vahearuanne
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(eurodes) Lisa 30.09.2019 31.12.2018
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Raha ja raha ekvivalendid 719 578 426 691
Nõuded ostjate vastu ja muud nõuded 206 490 300 576
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Käibevara kokku 926 068 727 267
Kinnisvarainvesteering 30 762 000 30 762 000
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Põhivara kokku 30 762 000 30 762 000
VARAD KOKKU 31 688 068 31 489 267
Võlad tarnijatele ja muud võlad 376 757 446 036
Tuletisinstrumendid 615 204 416 879
Laenukohustised 6 1 064 004 1 064 004
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Lühiajalised kohustised 2 055 961 1 926 919
Laenukohustised 6 27 894 629 28 592 629
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Pikaajalised kohustised 27 894 629 28 592 629
KOHUSTISED KOKKU 29 950 590 30 519 548
Osakapital 2 500 2 500
Jaotamata kasum 1 734 979 967 219
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OMAKAPITAL KOKKU 1 737 179 969 719
OMAKAPITAL JA KOHUSTISED KOKKU 31 688 068 31 489 267
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?Siim Sild
Direktor
+372 5626 0107
[email protected]
Teate sisu inglise keeles
Pealkiri
UPP Olaines OÜ consolidated unaudited financial results for Q3 and 9 months of 2019
Teade
Management commentary for the third quarter of 2019 ('Q3 2019')
During Q3 2019 the company made 634,901 EUR in operating income and during the
first 9 months of 2019 the operating income amounted to 1,879,700 EUR in total.
Compared to Q3 2018 the operating income has increased by 6.3% and compared to
first 9 months of 2018 the operating income has increased by 7.6%. The
difference in operating income on quarterly basis is mainly due to adjustment
made in Q3 2018 to correct mistakes of the previous quarters of 2018. 9 month
results outperform comparative period of 2018 mainly due to rent indexation and
decrease in administrative costs.
During Q3 2019 the company's financial costs amounted to 323,574 EUR and during
9 months of 2019 the financial costs amounted to 1,111,940 EUR in total.
Compared to Q3 2019 the financial expenses have increased by 60% and compared to
9 months of 2018 the financial expenses have decreased by 6.6%. The increase of
nearly 60% YoY in financial costs in Q3 is caused by the abnormally low
financial costs in Q3 2018 which were affected by significant changes in the
current value of the interest rate swap agreement. Since the financial cost
takes into account the current balance of the interest rate swap agreement, it
can affect the quarterly financial income and expenses significantly. Comparing
longer periods gives a better indication for trends in company's cost of
financing.
The company's sole business activity is to collect rental revenue, manage the
Olaine property and service its liabilities to lenders and investors.
Liabilities include the subordinated bonds with a fixed interest rate and the
investment loan which' rate is also fixed with an interest rate swap agreement.
On the revenue side the company earns stable triple-net rental income from
reputable tenants, which is fixed with medium-term agreements but is subject to
indexation. Due to the economically fixed nature of the company, there needs to
be major event in the overall economy or in the company's business activities
for them to have significant effect on the company's financial results.
As of reporting date all regular business operations of the company are running
smoothly, including duly and timely collection of rental and utilities payments
from the tenants.
As of the end of Q3 2019, there is no vacancy in the premises.
Key indicators of financial performance and position for 9 months 2019
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(in EUR) Q3 2019 Q3 2018 9 months 2019 9 months 2018
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Net rental income 642,452 599,759 1,933,970 1,877,856
Operating profit 634,901 596,731 1,879,700 1,745,645
Profit for the
period 311,327 392,785 767,760 557,274
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(in EUR) 30.09.2019 31.12.2018
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Investment property 30,762,000 30,762,000
Interest-bearing loans 28,958,633 29,656,633
Interest-bearing loans less
shareholder loan 25,910,333 26,608,333
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9 months 2019
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Net profit margin (Total comprehensive income for the
period / Net rental income) 40%
ROA (Net profit for the period / Average total assets
for the period) 2.4%
DSCR (Operating profit / Loan principal and interest
payments on interest-bearing loans) 1.3
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
Condensed consolidated interim statement of comprehensive income
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(in EUR) Note Q3 2019 Q3 2018 9 months 2019 9 months 2018
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Net rental income 5 642,452 599,759 1,933,970 1,877,856
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Net rental income 642,452 599,759 1,933,970 1,877,856
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General and
administrative expenses (7,551) (3,028) (39,270) (132,211)
Other income / (cost) 0 0 (15,000) 0
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Operating profit 634,901 596,731 1,879,700 1,745,645
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Financial income / (cost) (323,574) (203,946) (1,111,940) (1,188,371)
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Profit before income tax 311,327 392,785 767,760 557,274
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Profit for the period 311,327 392,785 767,760 557,274
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Total comprehensive
income for the period 311,327 392,785 767,760 557,274
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Condensed consolidated interim statement of financial position
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(in EUR Note 30.09.2019 31.12.2018
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Cash and cash equivalents 719,578 426,691
Trade and other receivables 206,490 300,576
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Total current assets 926,068 727,267
Investment property 30,762,000 30,762,000
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Total non-current assets 30,762,000 30,762,000
TOTAL ASSETS 31,688,068 31,489,267
Trade and other payables 376,757 446,036
Financial derivatives 615,204 416,879
Loans and borrowings 6 1,064,004 1,064,004
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Total current liabilities 2,055,961 1,926,919
Loans and borrowings 6 27,894,629 28,592,629
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Total non-current liabilities 27,894,629 28,592,629
TOTAL LIABILITIES 29,950,590 30,519,548
Share capital 2,500 2,500
Retained earnings 1,734,979 967,219
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TOTAL EQUITY 1,737,479 969,719
TOTAL EQUITY AND LIABILITIES 31,688,068 31,489,267
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Siim Sild
Director
+372 5626 0107
[email protected]