The Supervisory Board of EfTEN Real Estate Fund approved the audited annual report of the Fund for 2023 and will submit it to the Annual General Meeting for approval. In the audited report, the Fund’s financial results have not changed compared to the preliminary financial results published on 01.02.2024.
The consolidated sales revenue of EfTEN Real Estate Fund AS in 2023 was 31.817 million euros (2022: 14.299 million euros). Sales revenue increased 2.2 times mainly due to the merger of EfTEN Real Estate Fund AS and EfTEN Kinnisvarafond AS with the balance sheet date of 01.01.2023. The Fund’s net profit in the same period was 1.0 million euros (2022: 11.4 million euros). The decrease in the Fund’s net profit was mainly due to the loss of the revaluation of the fair value of real estate investments in the total amount of 13.9 million euros (in 2022, the Fund received a profit of 3.1 million euros from the revaluation of real estate investments).
