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The Audit Committee of the EfTEN Real Estate Fund has approved the Fund’s audited annual report for 2023 and intends to submit it to the Annual General Meeting for approval. In the audited report, the Fund’s financial results remain unchanged compared to the preliminary financial results published in October 2016. February 1, 2024.
Consolidated revenue for EfTEN Real Estate Fund AS in 2023 was €31,817,000 (2022: €14,299,000). Sales revenue increased 2.2 times primarily due to the merger of EfTEN Real Estate Fund AS and EfTEN Kinnisvarafond AS with a balance sheet date of January 1, 2023. The fund’s net profit for the same period was €1.0 million (2022: €11.4 million). The decrease in the Fund’s net income was primarily due to losses on the revaluation of the fair value of real estate investments totaling €13.9 million (in 2022 the Fund received a gain of €3.1 million from the revaluation of the fair value of its real estate investments). (real estate investment).
The Fund’s 2023 Consolidated Annual Report is attached to this communication and will be available on the Fund’s website. https://eref.ee/investorile/rahautned-ja-faktilehed-2/
Virjar Arakas
Management committee members
Phone number 6559 515
Email: viljar.arakas@eften.ee
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EfTEN Real Estate Fund AS AA 2023 est.asice
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EfTENRealEstateFundAS _AA 2024_eng
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