Audited Annual Report 2017 of EfTEN Real Estate Fund III AS

The management board of EfTEN Real Estate Fund III AS sent to the Supervisory Board for approval the 2017 audited annual report of EfTEN Real Estate Fund III AS. Financial results remained unchanged compared to the preliminary financial results published on 15th of February 2018.

The consolidated sales revenue of EfTEN Real Estate Fund III AS for year 2017 was EUR 7.300 million, which increased by 37% in a year. In 2017 the Group's profit before revaluation of investment properties (including change in the success fee reserve), depreciation and financial income/ -costs and income tax expense (EBITDA) totalled EUR 5.659 million (2016: EUR 3.925 million). The Group's net profit for the same period amounted to EUR 6.574 million, increasing by 51% compared to 2016.

The management board of EfTEN Real Estate Fund III AS proposed to the General Meeting of Shareholders distribution of the profit so that dividends in the amount of EUR 0.68 per share, total 2 191 324 euros, would be paid to shareholders.

The EfTEN Real Estate Fund III AS audited and consolidated Annual Report 2017 is attached to this announcement and will be made available on EfTEN Real Estate Fund III AS homepage www.eref.ee.

Viljar Arakas
Member of the Management Board                                                     
Phone: 655 9515                                                                                                                                     
E-mail: viljar.arakas@eften.ee

Attachments:

EfTEN_Real_Estate_Fund_III_AS_AA2017_ENG