The Net Asset Value Of The Eften Real Estate Fund AS Share Increased By 0.7% In October, Amounting To €20.55 At The End Of The Month

(MENAFN- GlobeNewsWire - Nasdaq) In October 2026, EfTEN Real Estate Fund AS earned consolidated rental income of €2,941 thousand (September: €2,943 thousand). The portfolio vacancy rate continued to decrease and reached 2.0% by the end of October (end of September: 2.2%), which is the lowest level since mid 2023. The decrease came mainly from the office segment, where the vacancy rate fell to 7.0% (end of September: 7.5%). The Fund's consolidated net operating income (NOI) for October was €2,828 thousand. This is €67 thousand less than in September, mainly due to lower property management and marketing costs in the comparative period. The Fund's consolidated EBITDA for October was €2,473 thousand (September: €2,565 thousand). General and administrative expenses increased by €25 thousand, mainly due to investment property valuation costs (€18 thousand). Management fees increased as a result of the increase in capital invested in the Magistral centre following the repayment of the bank loan taken out to acquire the holding.

The LTV of the bank loans of the Group's subsidiaries was 40.9% at the end of October (end of September: 41.0%) and the weighted average interest rate on loans was 4.4% (end of September: 4.36%). The Fund's consolidated cash balance at the end of the month was €21,269 thousand.

In the ten months of 2026, the Fund earned consolidated rental income totalling €28.12 million, 6.6% more than in the same period last year. Consolidated EBITDA for the ten months was €23.85 million, 7.6% (€1.7 million) more than a year earlier. Of the EBITDA increase, €969 thousand was contributed by the Magistral shopping centre acquired in June. The EBITDA of like-for-like investment properties increased by €843 thousand, or 4.0%.

For the ten months of this year, the Fund's consolidated adjusted cash flow (EBITDA less loan principal repayments, interest expenses and the income tax expense of Lithuanian subsidiaries) was €12.30 million, 14.9% more than in the same period last year. Based on the ten-month results, the Fund has earned a potential gross dividend of 83.93 cents per share for investors, 12.2% more than a year earlier (74.83 cents). According to preliminary calculations, EfTEN Real Estate Fund will be able to pay a net dividend of €1.22 per share in spring 2027, which is 1.7% more than in 2026.

The Fund's net asset value (NAV) per share was €20.55 as at 31.10.2026, 0.7% more than at the end of September.

Marilin Hein
CFO
Tel. +372 6559 515
...

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