Already 4,404 people have seen this company's branding and they are being followed by 169 Storybook user.In average the company has been rated 4.1 points ja kommenteeritud 6 korda.

's activity report 2022

In 2022, EfTEN Capital AS earned consolidated sales revenue of 11,067 thousand euros (2021: 5,890 thousand euros) and a net profit of 6,578 thousand euros (2021: 2,806 thousand euros).

As of 31.12.2022, EfTEN Capital AS had six (31.12.2021: the same) subsidiaries and one associated company: - subsidiary EfTEN Kinnisvarateenuste OÜ (EfTEN Capital AS stake 100%) - subsidiary EfTEN Capital Lietuva UAB (EfTEN Capital AS stake 67%) - subsidiary EfTEN Neljas GP OÜ (EfTEN Capital AS stake 100%) - subsidiary PE FoF GP OÜ (EfTEN Capital AS stake 100%) - subsidiary EfTEN REF GP OÜ (EfTEN Capital AS stake 100%) - subsidiary EfTEN Viies GP OÜ (EfTEN Capital AS stake 100%) - associated company EfTEN Capital SIA (EfTEN Capital AS stake 50%)

At the turn of the year, EfTEN Capital managed seven real estate funds: (cid:127) EfTEN Kinnisvarafond AS (established 2008). The fund focuses on value-adding and opportunistic investment strategy. As of 31.12.2022, the fund's assets amounted to 211 million euros.

(cid:127) EfTEN Kinnisvarafond II AS (established 2015). The fund is primarily aimed at institutional investors and focuses on core and core plus commercial real estate investments in the capitals of the Baltic States. As of 31.12.2022, the fund's consolidated assets amounted to 272 million euros.

(cid:127) EfTEN Real Estate Fund III AS (established 2015). The fund is a NASDAQ Baltic listed investment fund, aimed at Baltic retail investors. The fund follows an opportunistic and value-adding investment strategy. As of the end of 2022, this fund's assets amounted to 182 million euros.

(cid:127) Trust Fund EfTEN Real Estate Fund 4 (established 2018). The Fund, with a core and core plus investment strategy, was established in connection with

the end of the investment activities of EfTEN Kinnisvarafond II AS. As of the end of 2022, this fund's assets amounted to 350 million euros.

(cid:127) EfTEN Residential Fund Trust Fund (established 2020). The EfTEN Residential Fund trust fund is a real estate fund investing in residential real estate, established in 2020. The fund's first real estate investment at Kadaka tee 141 in Tallinn was completed in December 2021. EfTEN's residential real estate segment operates under the EfTEN Living brand. The fund's consolidated assets as of 31.12.2022 amounted to 30 million euros.

(cid:127) EfTEN United Property Fund (established 2021). The first NASDAQ Baltic listed investment fund that invests in other real estate funds as well as makes direct investments in commercial and residential real estate. The fund's assets amounted to 27 million euros as of 31.12.2022.

(cid:127) Trust Fund EfTEN Real Estate Fund 5 (established 2021). The Fund, with a core and core plus investment strategy, was established in connection with

the end of the investment activities of EfTEN Real Estate Fund 4. As of the end of 2022, this fund's assets amounted to 28 million euros.

The goal of EfTEN Capital AS for 2023 is to further increase its volumes of activity and to carry out new real estate investments.

At the end of the year, the group employed 27 (31.12.2021: the same) employees. Salaries were accounted for together with taxes totaling 1,725 thousand (2021: 1,563 thousand) euros. The board of EfTEN Capital AS consists of two members and the salaries paid to the members of the board were 215 thousand (2021: 152 thousand) euros together with employment taxes. No salaries were paid to the members of the supervisory board.

The main sales revenue of the EfTEN Capital group is derived from managing real estate funds. The management fee is based in most cases on the invested capital of the funds and in the case of one fund on the net value of the fund, which in turn is influenced by the profit / loss obtained from the revaluation of real estate investments. At the same time, the funds made new real estate investments in 2022 and the revenue from the management service of EfTEN Capital AS grew record-breaking by 1,301 thousand euros compared to 2021. The uncertainty arising from the Covid-19 crisis did not affect the financial results of EfTEN Capital AS in 2022. It is likely that the Covid-19 crisis will not have a negative impact on the EfTEN Capital AS group in 2023 either.

In February 2022, Russia started a war in Ukraine. In connection with this, most countries imposed sanctions against Russia, which have a significant negative impact on the Russian economy. To the best knowledge of the fund manager, there are no tenants on the total area of the real estate objects owned by the fund that are mainly related to Russian or Ukrainian business activities. Therefore, the risk of direct or so-called first-round realization impact on the managed funds is low. Due to the imposed sanctions, the effects of the so-called second-round realization of risk may gradually emerge over time - these may primarily affect the fund through a decrease in the reliability of investors towards the economies of the Baltic States (thereby increasing the probability of realization of market risk, refinancing and interest risk, and liquidity risk).