Net asset value of EfTEN Real Estate Fund III AS as of 31.07.2021
The net asset value (NAV) of EfTEN Real Estate Fund III AS as of 31.07.2021 was 17,747 euros. The net asset value of the EPRA share (net book value excluding deferred income tax liability and fair value of interest rate derivatives) as of 31.07.2021 was 18.75 euros. Both NAV and EPRA NAV increased by 0.8% in July.
In July, the consolidated sales revenue of EfTEN Real Estate Fund III AS amounted to 1,146 thousand euros, which is 49 thousand euros more than in June - in July, for the first time, the full-month rental income of the last acquisition of the fund, the warehouse and industrial building complex in Panevezys was added, and in addition, the sales revenues of the Saules Miestas shopping center increased by 15 thousand euros.
The Fund's consolidated EBITDA was 978 thousand euros in July, which is 150 thousand euros higher than in June, including an increase in NOI (net rental income) of 57 thousand euros and the effect of a decrease in overheads of 95 thousand euros. The higher than usual overheads in the comparison period were due to the last public share issue.
During the seven months of this year, the fund has earned EBITDA of 5.9 MEUR (2020: 4.5 MEUR) with sales revenue of 7.1 million euros (2020 7 months: 5.7 million euros). EBITDA has increased by 1.3 million euros compared to the previous year, of which 918 thousand euros has been brought about by the addition of new acquisitions and the rest is related to the end of discounts granted to tenants during the Covid-19 emergency last year and renting out the vacant premises in Ulonu and Evolution office buildings in Vilnius.
As of July 31th, the consolidated overdue debt of the Fund was 156 thousand euros, remaining at the same level as in June.
The consolidated cash balance of the fund increased by 138 thousand euros in June, including the payment of 176 thousand euros from income tax, calculated from dividends. As of 31.07.2021, the consolidated cash balance of the Fund was 10.07 MEUR.
The consolidated equity of EfTEN Real Estate Fund III AS was 90.022 million euros as of 31.07.2021 (31.12.2020: 71.483 million euros).
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