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EfTEN Real Estate Fund (EFT1T) investor relations material
EfTEN Real Estate Fund Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Portfolio reshaped with sale of DSV logistics centre in Riga and Menulio 11 office in Vilnius, and acquisition of Magistral shopping centre in Tallinn, boosting retail exposure and freeing capital for new investments.
Vacancy rate dropped to 2.3%, the lowest in three years, with strong tenant payment discipline and 100% occupancy at Magistral centre.
Lower EURIBOR reduced interest expenses by 10% year-over-year, improving free cash flow by 20% and raising the interest coverage ratio from 3.7 to 4.4.
Financial highlights
H1 2026 revenue rose 5.6% year-over-year to €16.97 million; Q2 revenue up 4.1% to €8.55 million.
Net profit for H1 2026 was €8.91 million, up 8.8% from H1 2025.
Net rental income margin remained high at 96%; EBITDA margin at 81%.
EPRA profit increased to €9.53 million (H1 2025: €7.94 million); EPRA profit per share €0.83.
NAV per share at €19.89, down 2.1% due to dividend payout; would have increased 3.8% without dividend.
Outlook and guidance
Management expects stable rental cash flows and no obstacles in refinancing €45.65 million in maturing loans, citing strong property cash flows and low vacancy.
Active portfolio management and new investments are prioritized to maintain dividend capacity and occupancy.
- Net profit rose 18.2% year-over-year, with strong cash flow and portfolio repositioning.EFT1T
Q1 202630 Apr 2026 - Rental income and cash flow rose, supporting a higher dividend despite lower net profit.EFT1T
Q4 202529 Jan 2026 - Revenue and profit rose on strong logistics and care home performance; dividend increase planned.EFT1T
Q3 202530 Oct 2025 - Net profit rose 31% year-over-year in H1 2025, with portfolio vacancy down to 3.7%.EFT1T
Q2 202531 Jul 2025 - Net profit up 47% to €10.1m; new logistics assets and €30m share issue planned.EFT1T
Q3 202413 Jun 2025 - Net profit more than doubled year-over-year, but office vacancies and finance costs remain headwinds.EFT1T
Q2 202413 Jun 2025 - Net profit rose 9% to €4.167 million, with stable income and expanded care home investments.EFT1T
Q1 20256 Jun 2025 - Rental income and profit rose in 2024, with strong capital raising and dividend outlook.EFT1T
Q4 20245 Jun 2025
Next EfTEN Real Estate Fund earnings date
Next EfTEN Real Estate Fund earnings date
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