Entra

Quarterly Report • Oct 18, 2023

Q3-23: Solid income growth and operations, results impacted by higher interest costs and negative value changes

Q3-23: Solid income growth and operations, results impacted by higher interest costs and negative value changes

18.10.2023 07:00:02 CEST | Entra ASA | Additional regulated information required

to be disclosed under the laws of a member state

Rental income was up by six per cent to 833 (788) million in Q3 2023, and by

nine per cent to 2 559 (2 352) million for the first nine months of 2023

compared to the same period last year. Net income from property management was

impacted by higher interest costs and came in at 319 (406) million in the

quarter and 1 060 (1 283) million for the first nine months. Net value changes

came in at -2 197 (-3 823) million in the quarter and -4 712 (-1 535) million

for the first nine months. Loss before tax was 1,894 (3 430) million in the

quarter and 3 703 (260) million for the first nine months of 2023.

Entra has signed new and renegotiated leases with annual rent totalling 92

million (36,600 sqm) in the quarter, net letting came in at 29 million. As of

30.09.23 the occupancy in the management portfolio was 95.6 per cent and the

average unexpired lease term of contracts was 6.2 years, including the project

portfolio.

Given the current situation in the property and interest rate markets, the

Board's focus is to strengthen the company's balance sheet. Consequently, the

Board has decided to not use the authorization to pay out semi-annual dividend

for the first half of 2023. Entra's dividend policy remains unchanged.

(NOK million) | Q3-23 | Q3-22 | YTD-23 | YTD-22 | 2022

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Rental income | 833 | 788 | 2 559 | 2 352 | 3 158

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Net operating income | 763 | 723 | 2 347 | 2 163 | 2 895

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Net income from property management | 319 | 406 | 1 060 | 1 283 | 1 603

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Profit/loss before tax | -1 894 | -3 430 | - 3 703 | - 260 | -467

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| | | | |

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(NOK per share) | Q3-23 | Q3-22 | YTD-23 | YTD-22 | 2022

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Cash Earnings | 1.74 | 2.21 | 5.77 | 6.90 | 8.63

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EPRA NRV | 181 | 210 | 181 | 210 | 207

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EPRA NTA | 179 | 208 | 179 | 208 | 205

Entra ASA will present its financial and operating results today at 08:30 CET

through a live webcast. The webcast can be followed from:

https://entra.no/investor-relations. The presentation as well as the full

quarterly report is available on the company's website.

Oslo, 18 October 2023

Entra ASA

For further queries please contact: Sonja Horn, CEO, tel: +47 905 68 456, email:

sh@entra.no or Anders Olstad, CFO, tel + 47 900 22 559, email:ao@entra.no

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

ABOUT ENTRA ASA

Entra is a leading owner, manager and developer of office properties in Norway.

Entra owns and manages around 100 properties totalling approximately 1.6 million

square meters, located in Oslo and the surrounding region, Bergen and Trondheim.

Entra has a solid customer portfolio with a high proportion of public tenants.

The company's strategy is focused on delivering profitable growth, high customer

satisfaction and environmental leadership

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/16126567/2686/3743/Download%20announcement

%20as%20PDF.pdf

Q3 2023 report.pdf -

https://kommunikasjon.ntb.no/ir-files/16126567/2686/3742/Q3%202023%20report.pdf