The net value (NAV) of the EfTEN Real Estate Fund III AS shares was 20.1625 euros on 31.08.2022. 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 21.45 euros at 31.08.2022. The ANR and the EPRA NRV increased by 0.8% in August.
In August, the fund achieved a total of 1,132 thousand euros in consolidated rental income, ie 10 thousand euros more than the previous month. The increase comes from the increase in rental income from Saules Miestas as part of the rental of vacant spaces in the center. The fund’s August EBITDA exceeded one million euros for the first time and totaled 1,002 thousand euros, 33 thousand euros more than in July.
In the eight months of 2022, the fund achieved a total of 8,867 thousand euros in rental income (14% more than in the same period last year) and 7,801 thousand euros in EBITDA (also 14% more than last year), i.e. the Investment property EBITDA calculated on a like-for-like basis increased by 8% compared to the previous year.
This year, the fund earned a total of 4.101 million euros in free cash flow, which is the basis for dividend payments, which is 30.4% more than last year. The estimated potential gross dividend based on the fund’s dividend policy is 64.68 cents per share based on 8 months 2022 (2021 8 months: 49.59 cents per share).
The consolidated equity of EfTEN Real Estate Fund III AS amounted to 102.275 million euros as of 31.08.2022 (31.12.2021: 96.914 million euros).
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