The net asset value of EfTEN Real Estate Fund AS shares as of 31.07.2024

The consolidated rental income of EfTEN Real Estate Fund AS was 2,573 thousand euros for July, maintaining the same level as June. The Fund's consolidated EBITDA for July was 2,219 thousand euros, which is 31 thousand euros higher than the previous month.

The consolidated rental income for the first seven months of this year totals 17,917 thousand euros, representing a 1.4% increase compared to the same period last year. The Fund's investment properties generated 17,315 thousand euros in net rental income (NOI) for the seven months of the year, marking a 0.6% increase compared to the same period last year. The Fund's EBITDA for the seven months of this year is 15,296 thousand euros, which is a 0.4% increase compared to the same period last year.

During the first seven months of 2024, EfTEN Real Estate Fund AS generated 6,175 thousand euros in free cash flow (EBITDA minus loan repayments minus interest expenses), which is 715 thousand euros less compared to the same period last year. The decrease in cash flow is due to the increase in EURIBOR. Based on the Fund's results for the first seven months of this year, the potential gross dividend is calculated at 45.65 cents per share (10.2% less than the same period last year).

The weighted average interest rate on the Fund's subsidiaries' bank loans was 5.61% at the end of July. Compared to the end of 2023, the weighted average interest rate has decreased by 0.3 percentage points.

The net asset value per share of EfTEN Real Estate Fund AS as of July 31, 2024, was 19.9259 euros, and the EPRA NRV was 20.7286 euros. The net asset value per share increased by a 0.7% in July.

Marilin Hein
CFO
Phone +372 6559 515
E-mail: marilin.hein@eften.ee

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• EREF_reports_monthly_07.2024