EfTEN United Property Fund unaudited financial results for 4th quarter and 12 months of 2025

Financial Performance - In 2025, EfTEN United Property Fund achieved its highest net profit to date, amounting to 3.57 million euros, which is a 2.2 times increase compared to 2024's profit of 1.62 million euros, representing approximately 14% of the Fund's invested capital and around 17% of its market capitalization [1] - The Fund's revenues rose from 1.82 million euros in 2024 to 3.78 million euros in 2025, indicating significant growth [1] - The Fund distributed over 9% of its market capitalization to investors in 2025 [1] Portfolio Highlights - The improved profitability of the Uus-Järveküla residential development and the acquisition of Kristiine Shopping Centre contributed significantly to the Fund's financial performance [2] - By the end of 2025, all completed semi-detached and terraced houses in the Uus-Järveküla area had been sold, with the final stage of development, consisting of 32 terraced houses, planned for completion in spring 2026, of which 20 have already been booked [2] Kristiine Shopping Centre Performance - Visitor numbers to Kristiine Shopping Centre increased by 0.4% in 2025, reaching 6 million, while tenant sales grew by 5.4% year-on-year [3] - The net rental income exceeded budgeted forecasts by 4%, and the centre had no vacant rental premises at the end of December [3] Revaluation Impact - The Fund's financial performance in December was positively influenced by the regular revaluation of its real estate portfolio, resulting in a fourth-quarter profit of 1.46 million euros, largely due to the increase in the value of its subsidiary, Invego Uus-Järveküla OÜ [4] Cash Flow and Distributions - All investments in rental real estate generated positive cash flow in 2025, with expected distributions of approximately 800,000 euros from the 2025 investment results of the underlying funds, nearly double the amount from spring 2025 [5] - Additional distributions from the Uus-Järveküla development are anticipated, amounting to approximately 100,000 euros, to be distributed to investors during 2026 [5] Comprehensive Income Statement - For the 12 months of 2025, total income reached 3.78 million euros, up from 1.82 million euros in 2024, with a net profit of 3.57 million euros compared to 1.62 million euros in the previous year [6] - The ordinary and diluted profit per unit increased to 1.44 euros in 2025 from 0.65 euros in 2024 [6] Asset Overview - As of December 31, 2025, total assets amounted to 29.21 million euros, an increase from 27.89 million euros in 2024 [7] - The net asset value of the Fund attributable to unitholders was 29.21 million euros, up from 27.48 million euros in the previous year [7]