Core Points - The Supervisory Board of EfTEN Real Estate Fund AS has decided to extend the term of office for the members of the Management Board for an additional 5 years until May 20, 2030 [1] Company Summary - Viljar Arakas and Tõnu Uustalu will continue as members of the Management Board [1] - The decision reflects the Supervisory Board's confidence in the current management team [1]

Group 1 - The net asset value (NAV) of EfTEN United Property Fund units was 11.53 euros at the end of April, reflecting a monthly increase of 1.6% [1] - The fund reported a net profit of 449 thousand euros in April and a total net profit of 1.15 million euros for the first four months of 2025, compared to 331 thousand euros during the same period last year [1] - If the investment in EfTEN Real Estate Fund AS shares were recorded at its NAV, the NAV would be 11.58 euros, indicating a 1.4% monthly increase [1] Group 2 - The fund's largest profit in April came from its investment in Invego Uus-Järveküla OÜ, amounting to 274 thousand euros, with the company earning a total profit of 342 thousand euros from the transfer of terraced houses [2] - The next stage of the development, consisting of 17 terraced houses, is expected to be completed in June 2025, with 14 of the houses already booked by clients [2] Group 3 - The cash balance of EfTEN United Property Fund increased by 1.582 million euros in April, which included loan payments and interest from Invego Uus-Järveküla OÜ totaling 1.5 million euros and dividend receipts of 277 thousand euros [3] - The fund will distribute its largest income in history on May 29, amounting to 1.416 million euros, or 57 euro cents per fund unit [3]

Core Insights - EfTEN Real Estate Fund AS reported strong financial results in April, with consolidated rental income reaching 2,611 thousand euros, a month-over-month increase of 55 thousand euros driven by new rental payments from the ICONFIT logistics centre and the Hiiu elderly care home [1] - The Fund's EBITDA for April was 2,183 thousand euros, reflecting a month-over-month increase of 193 thousand euros due to higher rental income and lower expenses [2] - The Fund paid a record dividend of 12.7 million euros in April, or 1.11 euros per share, partially financed by refinancing bank loans totaling 6.3 million euros [3] - The weighted average interest rate decreased to 4.21% in April from 4.37% in March, with a year-over-year decrease in consolidated interest expense of 586 thousand euros [4] - For the first four months of 2025, consolidated rental income was 10.3 million euros, a 1% year-over-year increase, while consolidated EBITDA was 8.4 million euros, down from 8.6 million euros in the same period last year [5] - The Fund's net asset value (NAV) per share was 19.64 euros at the end of April, with an EPRA NRV of 20.50 euros; the NAV decreased by 5.3% due to the dividend distribution [6]

Core Insights - EfTEN United Property Fund achieved a net profit of €703 thousand in Q1 2025, a significant increase from €94 thousand in Q1 2024, marking the first quarter based on a fully invested portfolio [1][2] - The Fund's revenues rose from €155 thousand in Q1 2024 to €768 thousand in Q1 2025, while costs remained largely stable [1][2] Financial Performance - The increase in income and profit was primarily driven by the strong financial results of Kristiine Shopping Centre and improved profitability from new development phases in the Uus-Järveküla residential area [2] - In Q1 2025, the Fund concluded 27 real rights agreements for terraced and semi-detached houses in Uus-Järveküla, with the developing company earning a profit of €781 thousand [3] - By the end of Q1 2025, nearly 75% of the total project volume (165 housing units) had been sold or reserved [3] Development Updates - A building permit was issued for the final phase of the Uus-Järveküla residential development, which includes 32 terraced houses, with financing secured from Coop Pank AS covering 100% of construction costs [4] - The Fund plans to make its largest distribution in history in Q2 2025, based on dividends from various real estate funds and accrued interests from loans granted to Invego Uus-Järveküla OÜ [5] Financial Position - As of March 31, 2025, total assets of the Fund amounted to €28.36 million, an increase from €27.89 million at the end of 2024 [10] - The net asset value attributable to shareholders was €28.18 million, up from €27.48 million at the end of 2024 [10]

Group 1 - EfTEN Real Estate Fund AS will fix the list of shareholders for dividend distribution on April 22, 2025, at the end of the working day of the registrar of the settlement system of the fund's securities [1] - The date of change of rights related to the securities is April 21, 2025, but due to trading holidays of the Nasdaq Tallinn Stock Exchange, the actual ex-date is April 17, 2025 [1] - As of the ex-date, the new owner of the shares will not be entitled to dividends for the year 2024 [1] Group 2 - EfTEN Real Estate Fund AS will distribute dividends amounting to €1.11 per share on April 30, 2025 [2]

Core Insights - EfTEN Real Estate Fund AS reported a consolidated rental income of EUR 7.678 million in Q1, marking a 0.5% increase year-over-year [1] - The Fund's consolidated EBITDA for Q1 was EUR 6.181 million, reflecting a 4.3% decrease compared to the same period last year [1] - Adjusted cash flow for Q1 reached EUR 2.758 million, an increase of EUR 139 thousand from the previous year, primarily due to lower interest expenses [1] Financial Performance - The weighted average interest rate on loans decreased to 4.37% by the end of March, down by 0.527 percentage points from the end of the previous year [2] - Total interest expense for Q1 was EUR 1.675 million, which is EUR 486 thousand (22%) lower than the previous year [2] - In March, consolidated rental income was EUR 2,556 thousand, a decrease of EUR 10 thousand from February [3] Expense and Investment Overview - Rental income-related expenses in March increased by EUR 111 thousand, largely due to a one-off provision for receivables of EUR 89 thousand related to a bankrupt tenant [3] - The Fund's consolidated EBITDA for March was EUR 1,990 thousand, which is EUR 159 thousand less than in February [4] - The cash balance decreased by EUR 3,350 thousand in March, totaling EUR 19,038 thousand at month-end due to property investments [5] Property Investments - A new property investment was made with the acquisition of the Hiiu care home property in Tallinn for EUR 4,016 thousand [5] - Additional investments included EUR 619 thousand for the Paemurru logistics center development and EUR 118 thousand for construction at the Valkla elderly home [5] - The Paemurru logistics center is expected to start generating rental income from mid-April [5] Asset Valuation - As of March 31, 2025, the Fund's net asset value (NAV) per share was EUR 20.7371, with an EPRA NRV of EUR 21.5985, reflecting a 0.6% increase in NAV per share for March [6]