EfTEN United Property Fund Reports Lower Profit for August

EfTEN United Property Fund reported a net profit of 58,000 euros in August, bringing the total profit for the first eight months of 2026 to 624,000 euros. This is a significant drop from the 2,012,000 euros earned in the same period last year. The lower-than-expected earnings were largely due to the fund's investment in the shares of EfTEN Real Estate Fund AS, which saw a 1.8% decline on the Tallinn Stock Exchange in August 2026. If the fund had recognized its investment based on the net asset value of EfTEN Real Estate Fund AS, it would have earned an additional 163,000 euros, pushing the fund's net asset value (NAV) to 11.66 euros, a 0.6% increase over the month.

In August, the fund made a strategic move by acquiring a 5.9% stake in EfTEN Domina SIA, the company that owns the Domina shopping centre in Riga. The acquisition cost the fund 2,478,000 euros, and in the same month, the fund earned 31,000 euros from the change in the fair value of this holding. Additionally, the fund acquired an 80% stake in its subsidiary, Invego Uus-Järveküla 2 OÜ, which is developing the expansion of the Uus-Järveküla residential district. The fund earns an annual 10% interest income on a 700,000 euro shareholder loan granted to the company at the end of July.

Despite the acquisitions, the fund did not conclude any new sales agreements in August for the development company Invego Uus-Järveküla OÜ, where it holds an 80% stake. Currently, three terraced houses and two land plots remain unsold in the ongoing development project.

The fund's portfolio includes a diverse range of investments, from real estate to financial instruments, reflecting its strategic approach to diversification.

The fund's website, available at eftenunitedpropertyfund.ee/en/fund-results-2, offers a detailed overview of its portfolio and financial performance, providing stakeholders with comprehensive insights into the fund's operations and future prospects.