Entra

Earnings Release • Jul 13, 2022

Q2-22: Strong letting in the quarter, solid growth in income and operating result

13.7.2022 07:00:00 CEST | Entra ASA | Half yearly financial reports and audit reports / limited reviews

Rental income was up by 30 per cent to 783 (602) million in Q2 2022, and by 31 per cent to 1,564 (1,193) million for the first six months of 2022 compared to the same period last year. Net income from property management was up by 20 per cent to 445 (370) million in the quarter and 877 (740) million for the first six months. Net value changes came in at - 857 (756) million in the quarter and 2,288 (1,637) million for the first six months. Profit before tax was -413 (1,126) million in the quarter and 3,170 (2,417) million for the first six months of 2022.

Entra has signed new and renegotiated leases with annual rent totalling 134 million (53,900 sqm) in the quarter and net letting came in at 64 million. As of 30.06.22 the occupancy in the management portfolio was 97.0 per cent (97.4 per cent). The average unexpired lease term of contracts was 6.5 years, including the project portfolio.

(NOK million)	Q2-22	Q2-21	YTD-22	YTD-21	2021
Rental income	783	602	1 564	1 193	2 508
Net operating income	723	539	1 440	1 079	2 274
Net income from property management	445	370	877	740	1 534
Profit before tax	-413	1 126	3 170	2 417	6 825
(NOK per share)	Q2-22	Q2-21	YTD-22	YTD-21	2021
Cash Earnings	2.33	2.01	4.68	4.02	8.32
EPRA NRV	230	198	230	198	218
EPRA NTA	227	196	227	196	216

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, 13 July 2022

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 106 properties totalling approximately 1.6 million square meters, located in Oslo and the surrounding region, Bergen, Trondheim and Stavanger. 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
• Q2 H1 report 2022.pdf