Financial Performance Overview of EfTEN Real Estate Fund AS
In May, EfTEN Real Estate Fund AS reported a consolidated rental income of EUR 2,643 thousand, marking a EUR 33 thousand increase from April. This growth in rental income can be attributed mainly to a boost in the logistics segment, which includes the first full month of rental income from the Paemurru logistics center, as well as contract-based rent increases in the elderly care section.
Consolidated EBITDA and Cash Flow Insights
The Fund’s consolidated EBITDA in May reached EUR 2,229 thousand, a rise from the previous month’s EUR 2,183 thousand. The adjusted cash flow, which accounts for loan principal repayments and interest expenses, recorded an impressive EUR 1,148 thousand, indicating a notable increase of EUR 138 thousand compared to April. Furthermore, the portfolio vacancy rate experienced a decline to 4.0%, down by 0.7 percentage points, thanks to new lease agreements established in the office building at Pärnu mnt 102.
Rental Income Growth Over the Year
Throughout the first five months of 2025, the Fund has accumulated EUR 12.9 million in rental income, reflecting a modest 1.3% increase from the same five months last year. However, the consolidated EBITDA year-to-date stands at EUR 10.6 million, which is 2.7% lower than the previous year, primarily due to higher utility costs associated with vacant spaces within the office segments.
Interest Expense Reduction
On a positive note, consolidated interest expenses have significantly reduced by EUR 768 thousand compared to last year. Additionally, the Fund’s weighted average interest rate fell to 4.09% in May, matching the rate observed at the beginning of 2023. This improvement in financial metrics is encouraging, as the Fund has generated 5.4% more free cash flow in the first five months of this year compared to the same period in the previous year.
Net Asset Value (NAV) Insights
As of the end of May, the Fund’s net asset value (NAV) per share was reported at EUR 19.7782, while the EPRA NRV stood at EUR 20.6479. Both the NAV and EPRA NRV saw a noteworthy increase of 0.7% over the month, indicating the Fund’s overall strengthening performance.
Contact Information for Inquiries
For additional information, please reach out to:
Marilin Hein
CFO
Phone: +372 6559 515
E-mail: marilin.hein@eften.ee
Frequently Asked Questions
What is the recent development in rental income for EfTEN Real Estate Fund AS?
In May, the Fund achieved a consolidated rental income of EUR 2,643 thousand, a slight increase from April, driven by growth in the logistics segment.
How has the Fund's EBITDA changed recently?
The Fund's consolidated EBITDA increased to EUR 2,229 thousand in May, indicating positive financial adjustments as compared to April's figures.
What is the current NAV per share for the Fund?
As of the end of May, the net asset value per share was EUR 19.7782, showing a 0.7% increase for the month.
How does the Fund's interest expense compare to previous years?
The consolidated interest expenses have decreased by EUR 768 thousand in comparison to the previous year, showcasing effective financial management practices.
Where can I find contact information for inquiries regarding EfTEN Real Estate Fund AS?
For inquiries, contact Marilin Hein at +372 6559 515 or via email at marilin.hein@eften.ee.
