Oslo, 17 October 2019 - Rental income was up by 1 per cent to 577 million in Q3
2019 compared to 570 million in Q3 2018. Net income from property management was
360 million (369 million) in the quarter. Net value changes came in at 471
million (204 million) and profit before tax was 900 million (660 million) in the
quarter.
Entra has signed new and renegotiated leases with annual rent totalling 43
million (19,000 sqm) in the quarter, while net letting in the quarter came in at
6 million. As of 30.09.19 the portfolio occupancy was 96.1 per cent (96.6 per
cent) and the average unexpired lease term of contracts was 6.9 (7.4) years.
During the quarter Entra started a new redevelopment and infill project in
Kristian August gate 13 in Tullinkvartalet in Oslo. The project is 4,300 sqm and
is 100 % pre-let.
Q3-19 Q3-18
Rental income 577 570
Net operating income 530 525
Net income from property management 360 369
Profit before tax 900 660
Cash Earnings per share 1.96 1.99
EPRA NAV per share 147 137
EPRA NNNAV per share 137 127
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, 17 October 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 89 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 48 billion.---