Skip to main content

The net asset value of EfTEN Real Estate Fund AS shares as of 31.03.2024

Written by Customer Service on . Posted in Public Companies.

In March, EfTEN Real Estate Fund AS generated a consolidated rental income of 2,545 thousand euros, which is 6 thousand euros less than in February. The rental income decreased by 33 thousand euros in March due to the expiration of a lease agreement with an anchor tenant in an office building located in Vilnius. Conversely, rental income increased due to a decrease in vacancy in a logistics building in Kekava and due to turnover rents in the Saules Miestas, RAF Centrs, and UKU shopping centers.

For the first quarter of this year, the consolidated rental income totaled to 7,637 thousand euros, representing a 2% increase over the same period last year. The Fund’s consolidated EBITDA for the first quarter of this year was 6,460 thousand euros, which is a 0.1% increase from last year.

During the first quarter of 2024, EfTEN Real Estate Fund AS earned a free cash flow of 2,619 thousand euros (EBITDA minus loan payments minus interest expenses), which is 406 thousand euros less than the same period last year. The decrease in cash flow is primarily due to an increase in the EURIBOR. Based on the Fund’s first-quarter results, the potential gross dividend is 19.38 cents per share (13% less than the same time last year).

The weighted average interest rate of the Fund’s subsidiaries’ bank loans was 5.9% at the end of March. The average interest rate on the Fund’s loans has remained steady since November of the previous year.

As of March 31, 2024, the Fund’s consolidated cash balance, including short-term deposits, was 20,268 thousand euros. In accordance with the decision of the general meeting, the Fund will pay a total of 10,820 thousand euros in net dividends on April 24th (1 euro per share).

As of March 31, 2024, the net asset value per share of EfTEN Real Estate Fund AS was 20.5648 euros, and the EPRA NRV was 21.3555 euros. The net asset value per share increased by 0.5% in March as usual.

Marilin Hein
CFO
Phone +372 6559 515
E-mail: marilin.hein@eften.ee

Attachment

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.