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Entra
Earnings Release • Apr 22, 2022
3596_rns_2022-04-22_ca336905-ba0b-45b8-b5f6-e132aa4a7f52.pdf
Earnings Release
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Q1-22: Strong income and portfolio value growth
22.4.2022 07:00:00 CEST | Entra ASA | Additional regulated information required to be disclosed under the laws of a member state
Oslo, 22 April 2022 – Rental income increased by 32 per cent to 781 million in Q1 2022 compared to 591 million in Q1 2021. Net income from property management grew by 17 per cent to 433 million (370 million). Net value changes came in at 3,146 million (880 million) in the quarter and profit before tax was 3,583 million (1,290 million).
Entra has signed new and renegotiated leases with annual rent totalling 65 million (29,600 sqm) in the quarter. As of 31.03.22 the portfolio occupancy was 97.3 per cent (98.1 per cent) and the average unexpired lease term of contracts was 6.6 (6.9) years.
During the quarter, Entra closed the acquisition of the 17 properties in the Oslo Areal portfolio and the divestment of its 50 % stake in Hinna Park Eiendom. Entra also started up the redevelopment project Kongens gate 87 in Trondheim (7,100 sqm) and the refurbishment project Vahls gate 1-3 in Oslo (14,900 sqm).
| (NOK million) | Q1-22 | Q1-21 |
|---|---|---|
| Rental income | 781 | 591 |
| Net operating income | 717 | 539 |
| Net income from property management | 433 | 370 |
| Net value changes | 3,146 | 880 |
| Profit before tax | 3,583 | 1,290 |
| (NOK per share) | Q1-22 | Q1-21 |
| Cash Earnings | 2.35 | 2.01 |
| EPRA NRV | 235 | 194 |
| EPRA NTA | 233 | 192 |
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, 22 April 2022 Entra ASA
For further queries please contact: Sonja Horn, CEO, tel: +47 905 68 456, email: [email protected] or Anders Olstad, CFO, tel + 47 900 22 559, email:[email protected]
Disclosure regulation
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.