The management board of EfTEN Real Estate Fund III AS sent to the Supervisory Board for approval the 2018 audited annual report of EfTEN Real Estate Fund III AS. Financial results remained unchanged compared to the preliminary financial results published on 14th of February 2019.
The consolidated sales revenue of EfTEN Real Estate Fund III AS for year 2018 was EUR 8.672 million, which increased by 19% in a year. In 2018 the Group's profit before changes in investment properties fair value, change in the success fee reserve, depreciation and financial income/ -costs and income tax expense (EBITDA) totalled EUR 6.710 million (2017: EUR 5.619 million). The Group's net profit for the same period amounted to EUR 6.299 (2017: 6.574) million.
The management board of EfTEN Real Estate Fund III AS proposes to Supervisory Board and the General Meeting of Shareholders distribution of the profit so that dividends in the amount of EUR 0.95 per share, total 3 054 800 euros, would be paid to shareholders.
The EfTEN Real Estate Fund III AS audited and consolidated Annual Report 2018 is attached to this announcement and will be made available on EfTEN Real Estate Fund III AS homepage www.eref.ee.
Member of the Management Board
Phone: 655 9515