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EfTEN United Property Fund unaudited financial results for 3rd quarter and 9 months of 2025

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

In the third quarter of 2025, EfTEN United Property Fund earned a net profit of 426 thousand euros (Q3 2024: 134 thousand euros). The fund’s income increased from 176 thousand euros to 468 thousand euros year-on-year, while expenses remained unchanged. The fund’s assets amounted to 28,167 thousand euros as of 30.09.2025 (31.12.2024: 27,478 thousand euros).

EfTEN United Property Fund’s investments performed as expected in the third quarter of 2025. In larger commercial real estate premices, where the fund has invested mainly through other funds managed by EfTEN Capital, the vacancy rate remained at the previous quarter’s level.

The development investment in the Uus-Järveküla residential area is entering its final phase. In July, the last terraced housed completed in the third phase were handed over to customers. From the sales proceeds, Invego Uus-Järveküla OÜ returned 128 thousand euros in owner loan interest and 1.092 million euros in owner loan principal to the fund. In total, the development company has distributed 2.73 million euros to the fund in 2025. In the third quarter, most of the external construction works of the last development phase, consisting of 32 terraced house units, were completed. On the construction side interior finishing works remain to be completed. As of the end of the quarter, 25 completed and to be completed in spring 2026 terraced houses were not yet booked by clients. In addition, one commercial land plot and one residential plot have not been sold.

Following the balance sheet date, the fund announced a distribution of 420 thousand euros to investors, based on income received from the underlying funds and Invego Uus-Järveküla OÜ. Together with the spring distribution, the fund has distributed to investors over 9% of the fund’s market capitalization in 2025.

Statement of the comprehensive income

 3rd quarter9 months
 2025202420252024
€ thousand    
INCOME    
Interest income116 137 413 447 
Distributed profit from underlying funds0 0 420 260 
Interest expenses0 0 -6 0 
Other financial income0 0 4 5 
Net profit / loss from assets recognised in fair value through profit or loss352 39 1 427 -26 
   Investments in subsidiaries47 26 784 -114 
   Investments in funds305 13 643 88 
Total income468 176 2 258 686 
     
COSTS    
Operating expenses    
   Management fee-26 -28 -82 -84 
   Costs of administering the Fund-5 -5 -22 -21 
   Other operating expenses-11 -9 -49 -46 
Total operating expenses-42 -42 -153 -151 
     
Profit / loss for the period426 134 2 105 535 
Total profit / loss for the period426 134 2 105 535 
     
Ordinary and diluted earnings / loss per share (EUR)0,17 0,05 0,85 0,22 

Statement of financial position

 30.09.202531.12.2024
€ thousand  
ASSETS  
Current assets  
Cash and cash equivalents1 428 0
Short-term deposits0 120
Loans granted1 917 3 519
Other receivables and accrued income382 1 039
Total current assets3 727 4 678
   
Non-current assets  
Financial assets at fair value through profit or loss22 301 21 063
  Investments in subsidiaries1 938 1 154
  Real estate funds20 363 19 909
Loans granted2 149 2 149
Total non-current assets24 450 23 212
TOTAL ASSETS28 177 27 890
   
LIABILITIES  
Bank overdraft0400
Current liabilities1012
Total liabilities, excluding net asset value of the fund attributable to shareholders10412
   
NET ASSET VALUE OF THE FUND  
Net asset value of the fund attributable to shareholders28 16727 478
Total liabilities and net asset value of the fund attributable to shareholders28 17727 890

The unaudited 3rd quarter and 9 months of 2025 report of the EfTEN United Property Fund is attached to the release and can be found on the Fund’s website: https://eftenunitedpropertyfund.ee/en/reports-documents/

Kristjan Tamla
Managing Director
Phone 655 9515
E-mail: kristjan.tamla@eften.ee

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