EfTEN Real Estate Fund III AS Net Asset Value per share as of 30.09.2018
The fund's business activity was stable in September. The rental income was 677 thousand euros (689 thousand euros in August) and EBITDA was 573 thousand euros (in August, 617 thousand euros). September's rental income and EBITDA decreased compared to August mainly due to the upgrading of the tenancy base of Saules Miestas Shopping Center, reconstruction of commercial premises and the related temporary decrease in rental revenue. Net profit amounted to 503 thousand euros, including profit from interest rate swap fair value changes in 81 thousand euros.
Within the nine months of this year, EfTEN Real Estate Fund III has earned sales of 6,343 thousand euros (an increase compared to last year's + 18%). The EBITDA for the same period is 5,008 thousand euros (19% more than last year). The basis for the calculation of dividends (EBITDA minus corporate income tax expense minus loan and interest payments) would allow 1,783 thousand euros (55 cents per share) net dividends to be paid out on the basis of the results of the nine months of the Fund. EfTEN Real Estate Fund III AS paid 68 cents dividends per share for the net profit of the previous year.
EfTEN Real Estate Fund III consolidated assets as at 30.09.2018 amounted to 107.0 million euros (31.12.2017: 97.3 million euros) and equity was 48.7 million euros (31.12.2017: 46.4 million euros). The Fund's 12-month return on average paid-in capital is 16.4% at the end of September.
EfTEN Real Estate Fund III AS NAV was EUR 15.13 as at 30.09.2018. NAV grew by 1,0% during September.
Marilin Hein
CFO
Phone 655 9515
E-mail:
