Eastnine publishes Interim Report for the third quarter 2017
Key events during the quarter:
- Net Asset Value (NAV) per share was EUR 9.79, an increase of 2.2% from the second quarter¹.
- All segments increased in value; Real Estate direct by 1.4%, Real Estate funds by 5.0% and Other by 1.5%.
- Investments totalling EUR 8.0m were made in 3Burės development and East Capital Baltic Property Fund III. Divestments amounted to EUR 1.9m, referring to East Capital Deep Value Fund.
- 577,013 shares were repurchased for a total of EUR 4.1m.
- Decision on new dividend policy and financial targets to reflect the transformation into a real estate company, and continued repurchases of own shares in Q4 up to NAV/share.
- Kestutis Sasnauskas was appointed new CEO on 3 July.
1 Adjusted for share buybacks
Key events after the quarter:
- East Capital Baltic Property Fund II closed the sale of GO9 in Vilnius at IRR above 15%. Eastnine expects to receive its share of the proceeds, in excess of EUR 9m, during Q4.
- 343,214 shares were repurchased 1 Oct – 7 Nov. Eastnine’s holding represents 5.8% of all shares in the company.
The report will be presented at a web recording by Kestutis Sasnauskas, CEO, and Lena Krauss, CFO at 10.00 am CET. The presentation will be made available on Eastnine’s homepage no later than 15 minutes prior to the publication of the webcast. The recording will also be made available on Eastnine’s homepage. To listen to the webcast, please click here.
For more information contact:
Kestutis Sasnauskas, CEO, +46 8 505 97 700
Lena Krauss, CFO, +46 73 988 44 66
Visit www.eastnine.com
Eastnine AB (publ) is a Swedish investment company with a net asset value of EUR 232m. The company is currently transitioning into a focused Baltic real estate company, with an aim to generate predictable cash flows by being a long-term owner of attractive commercial properties in prime locations in the Baltic capitals. Eastnine is listed on Nasdaq Stockholm, Mid Cap.
This information is information that Eastnine AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 08:00 a.m. CET on 9 November 2017.