COMMENTARY FROM MANAGEMENT Merko Ehitus posted revenue of EUR 160.4 million and net profit of EUR 19.9 million in Q4 of 2024. The respective figures for the entire year 2024 were EUR 539 million and EUR 64.7 million. Approximately 90%…
Fund manager’s comment Despite the challenging economic environment, EfTEN Real Estate Fund AS managed to increase both total rental income and portfolio EBITDA in 2024. The fund’s portfolio was expanded by two new logistics properties in the fourth quarter and…
Although there were no huge positive development leaps in the operating environment, there were still signs of renewed optimism in the residential property market. During the fourth quarter, we signed 34 contracts under the law of obligation (sales contract; 2024…
Comment by EfTEN Capital managing director Kristjan Tamla The Baltic real estate market showed the first signs of recovery in 2024. Several commercial real estate owners adjusted their selling price expectations downwards. In addition, the accelerated decline in EURIBOR in…
BUSINESS CLIMATE Business cycle. In 2024 recession worries came and disappeared in global economy. Towards the end of a year global growth was lower than at the start of a year in almost all major regions, but far away from…
Liven AS has harmonised the articles of associations of the group’s subsidiaries registered in Estonia and supplemented them, where necessary, with the right to establish a voluntary reserve. Among others, the amendment concerns the following subsidiaries that are considered significant…
Arco Vara AS conducted a bond issue as a result of which bonds in the amount of 4,000,000 euros were issued. The issue date of the bonds is 13 December 2024 and the maturity date is 12 December 2026. 400…
The Supervisory Board of EfTEN Real Estate Fund AS (registry code 12864036, address A. Lauteri 5, 10114 Tallinn) adopted a resolution on November 11, 2024 to increase the share capital of EfTEN Real Estate Fund AS by issuing up to…
EfTEN Capital AS and Südamekodud AS have entered into a preliminary agreement, according to which EfTEN Real Estate Fund AS will acquire a property located at Hiiu tn 42 in the Nõmme district of Tallinn through a to be established…
In the third quarter of 2024, Estonian GDP dropped by 0.7% y/y in real terms (seasonally non-adjusted), while remained at the same level compared to the previous quarter (seasonally and working day adjusted), according to the updated estimate of Statistics…
Enlight Research updated the equity research and price target of EfTEN Real Estate Fund AS (EfTEN; EFT1T) shares. According to the analysis, the fair value of the share is 22.51 euros under the base scenario. This is unchanged as compared…
Today, 21.11.2024, EfTEN Paemurru OÜ OÜ finalized the transaction by which the company acquired the property located on Paemurru tee 3, Laabi village, Harju County, Harku Municipality, near Tallinn. Previously (30.09.2024), the fund has notified the stock exchange of…
EfTEN Real Estate Fund AS (registry code 12864036, address A. Lauteri 5, 10114 Tallinn) announces a public offering of shares based on a decision of the fund’s Supervisory Board dated November 11, 2024, and informs about the planned listing and admission…
MANAGEMENT REPORT Real Estate Development In 2024, we are continuing the construction and sales activities of the last stage of Kalaranna 8, Tallinn. The final stage consists of 4 residential buildings with 146 apartments and 4 commercial units which, upon…
COMMENTARY FROM MANAGEMENT Merko Ehitus revenue for the 9 months of 2024 was EUR 379 million and net profit was EUR 44.8 million. Third-quarter revenue was EUR 175 million; net profit EUR 27.3 million. Sales of construction services made up…