As at 31 August 2022, the net value (NAV) of EfTEN Real Estate Fund III AS shares was €20.1625. The net value of EPRA shares (EPRA NRV – accounting net value excluding the fair value of deferred income tax liabilities and interest rate derivatives) was EUR 21.45 at 31 August 2022. Both NAV and EPRA NRV increased by 0.8% in August.
Consolidated rental income for August was €1,132,000, €10,000 more than the previous month. The increase was due to higher rental income at Saules Miestas related to the rental of vacant space in the centre. His EBITDA of the fund in August exceeded €1 million for the first time, totaling him €1,002 thousand, an increase of €33 thousand from July.
Over the eight months of 2022, the Fund earned a total of €8,867 thousand in rental income (14% more than in the same period last year) and EBITDA of €7,801 thousand (also 14% more than in the previous year). Comparable EBITDA for investment properties increased by 8% compared to the prior year.
This year the fund generated a total of 4.101 million euros in free cash flow. This forms the basis for dividend payments, up 30.4% from last year. The estimated total dividend payout under the Fund’s dividend policy is 64.68 cents per share based on 8 months 2022 (8 months 2021: 49.59 cents per share).
The consolidated capital of EfTEN Real Estate Fund III AS was €122.75 million at 31 August 2022 (31 December 2021: €96.914 million).
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