Net asset value of the real estate fund EfTEN III AS at

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The net asset value (NAV) of EfTEN Real Estate Fund III AS at 07.31.2021 was 17,747 euros. The net asset value of the EPRA share (net book value excluding deferred tax liabilities and fair value of interest rate derivatives) at 07.31.2021 is 18.75 euros. NAV and EPRA NAV rose 0.8% in July.

In July, the consolidated turnover of EfTEN Real Estate Fund III AS amounted to 1,146 thousand euros, 49 thousand euros more than in June – in July, for the first time, monthly rents of the fund’s latest acquisition, the warehouse and industrial building complex in Panevezys has been added, and in addition, the turnover of the Saules Miestas shopping center has increased by 15 thousand euros.

The Fund’s consolidated EBITDA amounted to 978 thousand euros in July, i.e. 150 thousand euros more than in June, including an increase in the NOI (net rental income) of 57 thousand euros and the effect of a drop in general expenses of 95 thousand euros. The higher than usual overheads during the comparison period are due to the last public issue of shares.

During the seven months of this year, the fund achieved an EBITDA of 5.9 MEUR (2020: 4.5 MEUR) with a turnover of 7.1 million euros (2020 7 months: 5.7 millions of euros). EBITDA increased by 1.3 million euros compared to the previous year, of which 918 thousand euros are due to the addition of new acquisitions and the rest is linked to the end of the discounts granted to tenants during of the Covid-19 emergency last year and rental of vacant premises in the Ulonu and Evolution office buildings in Vilnius.

As of July 31, the Caisse’s consolidated outstandings amounted to 156 thousand euros, remaining at the same level as in June.

The fund’s consolidated cash position increased by 138 thousand euros in June, including 176 thousand euros in income tax, calculated on dividends. At 07.31.2021, the consolidated cash balance of the Fund amounted to EUR 10.07 million.

The consolidated shareholders’ equity of EFTEN Real Estate Fund III AS amounted to € 90.022 million as at 07.31.2021 (12.31.2020: € 71.483 million).

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

  • EREF_III_reports_monthly_07_2021


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