Aurora Eiendom AS

Report Publication Announcement • Feb 16, 2024

Aurora Eiendom AS – Q4 2023 report

Aurora Eiendom AS – Q4 2023 report

Please find enclosed the report for Q4 2023 from Aurora Eiendom AS.

Rental income in Q4 was NOK 146 million (NOK 139 million), which corresponds to a like-for like growth of 5 %. The increase can mostly be attributed CPI growth.

• Full year rental income totaled NOK 575 million (NOK 448 million)

• Aurora Eiendom acquired three shopping centers during 2022 (Alti Buskerud in March, as well as Gulskogen Senter and Arkaden Senter in July). The increase in rental income thus primarily comes from a larger property portfolio.

Net income from property management was NOK 120 million in the quarter (NOK 116 million)

• For the year 2023 net income from property management was NOK 477 million (NOK 378 million)

In Q4, new leases were started on a total area of 8 638 sqm, while leases for 6 957 sqm expired. Occupancy is 97.7 % by year-end.

The quarter ́s gross tenant turnover in our fully owned centers was NOK 2 742 million, which is a like-for-like growth of 3.4 % compared to Q4 2022.

• In 2023, like-for-like growth in gross tenant turnover was 4,6 % compared to 2022.

During the year 2023 Alti Forvaltning increased its shopping center portfolio by seven centers, now managing a total of 45 centers in across Norway.