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Net asset value of EfTEN Real Estate Fund III AS as of 31.05.2022

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EfTEN Real Estate Fund III
EfTEN Real Estate Fund III

The net asset value (NAV) of EfTEN Real Estate Fund III AS was 19.0549 euros as of 31.05.2022, increasing by 0.8% during May. The net asset value of the EPRA share (EPRA NRV - net book value excluding the deferred income tax liability and the fair value of interest rate derivatives) was 20.24 euros as of 31.05.2022. EPRA NAV also increased by 0.8% in May.

In May, the fund earned a total of 1,112 thousand euros in consolidated rental income, which is 10 thousand euros more than a month earlier. The increase is mainly due to the first full month's rent of the Valkla care home property. The Fund's consolidated EBITDA was 981 thousand euros in May (April: 963 thousand euros).

During the five months of 2022, the fund has earned a total of 5,498 thousand euros in rental income and 4,851 thousand euros in EBITDA, including EBITDA calculated on a comparable basis for the investment properties that were also in the fund's balance sheet during the five months of the previous year, was 4,547 thousand euros (12% more than last year). EBITDA has increased for most investment properties, i.e. the result of Saules Miestas shopping center is 31% higher.

The fund's EPRA earnings per share for the first five months of this year are 79.03 cents (3.7% more than last year). The fund's expenses account for 12.8% of rental income (last year: 12.3%)

The consolidated equity of EfTEN Real Estate Fund III AS was 96.657 million euros as of 31.05.2022 (31.12.2021: 96.914 million euros).

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

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