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eastnine Interim report January - September 2021 Eastnine's rental income and net operating income increased due to a larger property portfolio . The issue of a bond , entailing higher interest expense during the quarter , will lead to a larger property portfolio and higher earnings . The positive development of sales entailed a positive value change of the holding in MFG during the third quarter . The period January - September 2021 Rental income increased by 15 per cent to EUR 16,079k ( 13,936 ) , as a result of a larger property portfolio . In a comparable portfolio rental income decreased by 6 per cent , due to higher vacancies in Riga . ● ● Net operating income increased by 17 per cent to EUR 14,625k ( 12,514 ) . Profit from property management increased by 12 per cent to EUR 7,785k ( 6,951 ) due to a larger property portfolio . During the third quarter , profit from property management has been negatively affected by increased interest expense after a bond issue , the capital of which is yet to be invested . Unrealised value changes amounted to EUR 15,009k ( -6,826 ) . Of this change , EUR 2,349k ( 2,386 ) is attributable to properties , EUR 11,999k ( -8,539 ) to other investments and EUR 661k ( -673 ) to derivatives . Dividend from other investments was EUR 3,906k ( - ) . Profit / loss for the period amounted to EUR 25,085k ( -1,349 ) , corresponding to EUR 1.13 per share ( -0.06 ) . The average rent level was EUR 15.0 per sq.m. and month ( 14.9 ) and the economic occupancy rate amounted to 89.6 per cent ( 92.1 ) . Net letting was SELECTED KEY FIGURES Rental income , EURK Profit from property management , EURK Profit from property management per share , EUR Net profit / loss for the period , EURK Earnings per share after dilution , EUR Return on equity , % SELECTED KEY FIGURES Net loan - to - value ratio , % Net loan - to - value ratio properties , % Sustainability - certified properties¹ , % of sq.m. Equity per share , EUR Equity per share , SEK² Long - term NAV per share , EUR Long - term NAV per share , SEK² Key events during the third quarter ● EUR -1,022k . The rent level for new lease agreements and renegotiated agreements , EUR 15.2 and 15.4 respectively per sq.m. and month , was higher than the average rent level in the portfolio . ● Eastnine issued a green bond of EUR 45m at the beginning of July . Key events after the end of the period A new larger letting has been made to the Norwegian IT company Pearl at the property Valdemara Centrs in Riga . The lease agreement has a term of six years with moving - in in the spring of 2022 . For the second year running , Eastnine obtained the highest number of stars , five , in GRESB's annual global assessment of the real estate industry . Eastnine was awarded 92 points ( 87 ) . The property S7-1 in Vilnius has obtained the sustainability certification BREEAM In - Use Outstanding . The Board of Directors has decided that the net loan - to value ratio on properties may amount to at most 60 per cent ( the previous wording referred to the loan - to value ratio on properties ) . 2021 Jan - Sep 16,079 7,785 0.35 25,085 1.13 10.5 2020 Jan - Sep 13,936 6,951 0.33 -1,349 -0.06 -0.7 2021 Jul - Sep 5,558 2,496 0.11 13,292 0.60 16.5 2021 30 Sep 34 43 88 14.8 150 15.5 157 2020 Jul - Sep 4,993 2,519 0.12 11,163 0.53 17.5 2020 31 Dec 31 40 87 14.0 141 14.6 147 Comparative figures in brackets in the interim report refer to the period January- September 2020 for income statement items and as per 31 December 2020 for balance sheet items . The Company refers to the Eastnine Group . Area with sustainability certification as a proportion of total area ( excluding area expected to undergo significant redevelopment ) . 2 EUR SEK10.14 as of 30 September 2021 ( source : Reuters ) .