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In This Article: EfTEN Real Estate Fund AS
EfTEN Real Estate Fund AS reported a consolidated rental income of EUR 2,689 thousand in July 2025, a EUR 39 thousand increase from June. The growth was driven by the end of rent discounts for a logistics tenant and higher turnover rents at Mustika and Saules Miestas shopping centres. Sales income decreased by EUR 33 thousand due to lower service mediation profits.
The Fund's consolidated net operating income (NOI) in July totalled EUR 2,604 thousand, down EUR 10 thousand from June. General expenses were lower mainly due to reduced property valuation costs. As a result, EBITDA remained at the same level as the previous month, at EUR 2,310 thousand.
Over the first seven months of 2025, the Fund earned consolidated rental income of EUR 18.27 million, a 2.0% increase from the same period last year. Consolidated EBITDA was EUR 15.21 million, matching last year's level. Adjusted cash flow for the seven-month period totalled EUR 7.10 million, up 15% due to new acquisitions and developments, as well as lower interest expenses.
The Fund has generated a potential gross dividend of 49.62 cents per share for its investors, an 8.7% increase from last year's same-period dividend. The Fund Manager will perform more detailed calculations regarding loan refinancing and the expected 2025 dividend in autumn.
As of July's end, the Fund's net asset value (NAV) per share was EUR 20.13 and EPRA NRV was EUR 21.0097, both increasing by 0.8% over the month.
