EfTEN Real Estate Fund III AS net share value as of 31.10.2022



The net asset value (NAV) of EfTEN Real Estate Fund III AS was 20.4586 euros on 31.10.2022. The net value of the EPRA unit (EPRA NRV – net book value without taking into account deferred tax liabilities and the fair value of interest rate derivatives) is 21.76 euros at 31.10.2022. The ANR and the EPRA NRV increased by 0.7% in October.

In October, the fund achieved a total of 1,126 thousand euros in consolidated rental income, 7 thousand euros less than the previous month. The decrease is due to the drop in turnover of the Saules Miestas shopping center. The fund’s EBITDA for October amounted to 955 thousand euros, ie 64 thousand euros less than in September. The fall in EBITDA is mainly linked to the autumn campaigns carried out in the Saules Miestas shopping centre.

In the ten months of 2022, the fund achieved a total of 11,127 thousand euros in rental income (12% more than in the same period last year) and 9,776 thousand euros in EBITDA (11% more than last year), i.e. like- The like-for-like EBITDA of these investment properties, which were also on the fund’s balance sheet for the last 10 months, increased by 7% this year compared to to the previous year.

This year, the fund generated a total of 5.096 million euros in free cash flow, which is the basis for the payment of dividends, which is 22% more than last year. The estimated potential gross dividend, based on the fund’s dividend policy, is 80.37 cents per share based on the 10 months of 2022 (2021 10 months: 66.13 cents per share).

The consolidated equity of EfTEN Real Estate Fund III AS amounted to 103.777 million euros as at 31.10.2022 (31.12.2021: 96.914 million euros).

Marilin Hein
Phone +372 6559 515
E-mail: [email protected]

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