Oslo, 11 July 2019 - Rental income was up by 4 per cent to 580 (558) million in
Q2 2019 and by 6 per cent to 1,165 (1,103) million for the first six months of
2019 compared to the same period last year. Net income from property management
was down by 3 per cent to 352 (364) million in the quarter and up by 2 per cent
to 727 (713) million for the first six months. Net value changes came in at 453
(459) million in the quarter and 915 (951) million for the first six months.
Profit before tax was 937 (843) million in the quarter and 1,795 (1,699) million
for the first six months of 2019. Entra's board has decided to pay a semi-annual
dividend of NOK 2.30 per share for the first six months of 2019, compared to NOK
2.20 per share for the same period last year. The dividend will be paid on 10
October 2019 to all shareholders per 1 October 2019.
Entra has signed new and renegotiated leases with annual rent totalling 90
million (36,000 sqm) during Q2 2019, while net letting in the quarter came in at
30 million. As of 30.06.19 the portfolio occupancy was 96.0 (96.7) per cent, and
the weighted average unexpired lease term of contracts was 7.0 (7.4) years.
During the quarter, Entra has started up a new re-development project in
Universitetsgata 2 ("Rebel U2"), next to Tullinkvartalet in Oslo. Rebel U2 will
be a technology and knowledge hub for large and small tech companies. The
28,100 sqm building will consist of office space, co-working areas, conference
center and a variation of restaurants.
Q2-19 Q2-18 H1-19 H1-18 2018
Rental income 580 558 1 165 1 103 2 243
Net operating income 530 516 1 072 1 018 2 058
Net income from property
management 352 364 727 713 1 434
Profit before tax 937 843 1 795 1 699 3 073
Cash Earnings per share 1.91 1.97 3.95 3.85 7.74
EPRA NAV per share 145 136 145 136 141
EPRA NNNAV per share 134 126 135 126 131
Entra ASA will present its financial and operating results today at 08:30 CET in
Biskop Gunnerus' gate 14 in Oslo. A live webcast of the presentation as well as
the full quarterly report is available on the company website www.entra.no
(http://www.entra.no)
Oslo, 11 July 2019
Entra ASA
For further queries please contact: Sonja Horn, CEO, tel: +47 90 56 84 56,
email: sh@entra.no or Anders Olstad, CFO, tel + 47 90 02 25 59,
email:ao@entra.no
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
--- Entra is a leading owner, manager and developer of office properties in
Norway. Entra owns and manages 90 buildings totalling approximately 1.3 million
square meters, located in Oslo and the surrounding region, Bergen, Stavanger and
Trondheim. The market value of the portfolio is approximately NOK 47 billion.---