Entra

Earnings Release • Jul 14, 2023

Solid income growth and operations, results impacted by higher interest costs and negative value changes

Solid income growth and operations, results impacted by higher interest costs and negative value changes

14.7.2023 06:55:00 CEST | Entra ASA | Half yearly financial reports and audit

reports / limited reviews

Rental income was up by nine per cent to 854 (783) million in Q2 2023 and by 10

per cent to 1 726 (1 564) million for the first six 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 350 (445) million in the quarter and 741

(877) million for the first six months. Net value changes came in at -2 063

(-857) million in the quarter and -2 515 (2 288) million for the first six

months. Profit/loss before tax was -1,739 (-413) million in the quarter and -1

809 (3 170) million for the first six months of 2023.

Entra has signed new and renegotiated leases with annual rent totalling 109

million (44,800 sqm) in the quarter, net letting came in at -1 million. As of

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

average unexpired lease term of contracts was 6.4 years, including the project

portfolio.

During the second quarter, Entra finalised four development projects and started

up two newbuild projects. Entra also sold two properties for a gross asset value

of NOK 1 473 million.

(NOK million) | Q2-23 | Q2-22 | YTD-23 | YTD-22 | 2022

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Rental income | 854 | 783 | 1 726 | 1 564 | 3 158

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Net operating income | 787 | 723 | 1 584 | 1 440 | 2 895

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Net income from property management | 350 | 445 | 741 | 877 | 1 603

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Profit/loss before tax | -1 739 | -413 | -1 809 | 3 170 | -467

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(NOK per share) | Q2-23 | Q2-22 | YTD-23 | YTD-22 | 2022

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Cash Earnings | 1.90 | 2.33 | 4.03 | 4.68 | 8.63

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EPRA NRV | 192 | 230 | 192 | 230 | 207

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EPRA NTA | 190 | 227 | 190 | 227 | 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, 14 July 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 102 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/16126567/2489/3454/Download%20announcement

%20as%20PDF.pdf

Q2 report 2023.pdf -

https://kommunikasjon.ntb.no/ir-files/16126567/2489/3444/Q2%20report%202023.pdf