EfTEN Real Estate Fund III AS net value of the share as of 30.09.2022

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EfTEN III Real Estate Fund

The net asset value (NAV) of the EfTEN Real Estate Fund III AS share was 20.3183 euros at 30.09.2022, up 0.8% in September. The net value of the EPRA share (EPRA NRV – net book value without taking into account deferred tax liabilities and the fair value of interest rate derivatives) amounts to 21.61 euros at 30.09.2022, up by 0.7% in September.

In September, the fund achieved a total of 1,133 thousand euros in consolidated rental income, which remained the same as the previous month. The fund’s consolidated EBITDA for the month of September amounted to 1,020 thousand euros, ie 17 thousand euros more than in August, mainly due to lower marketing costs.

In the nine months of 2022, the fund achieved a total of 10,000 thousand euros in rental income (13% more than the same period last year) and 8,821 thousand euros in EBITDA (also 13% more than last year), i.e. EBITDA calculated on a comparable basis for those investment properties which were also on the fund’s balance sheet in the last 9 months, this year increased by 8% compared to the previous year.

This year, the fund generated a total of 4.623 million euros in free cash flow, which is the basis for the payment of dividends, which is 22% more than in the same period last year. The estimated potential gross dividend, based on the fund’s dividend policy, is 72.91 cents per share based on the 9 months of 2022 (2021 9 months: 57.24 cents per share).

The consolidated equity of EfTEN Real Estate Fund III AS amounted to EUR 103.066 million as at 30.09.2022 (31.12.2021: EUR 96.914 million).

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

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