AI Terminal
Entra
Earnings Release • Oct 16, 2020
3596_iss_2020-10-16_d0195f5b-c95c-43e3-beb7-6cc2050a30b0.pdf
Earnings Release
Open in ViewerOpens in native device viewer
Q3-20: Solid performance, significant value growth
16.10.2020 07:00:00 CEST | Entra ASA | Inside information
Rental income was up by two per cent to 589 (577) million in Q3 2020. Net income from property management was up by six per cent to 383 (360) million. Net value changes came in at 918 (471) million, mainly as a result of yield compression in the Norwegian property market. Profit before tax was 1,354 (900) million in the quarter.
Entra has signed new and renegotiated leases with annual rent totalling 71 million (31,800 sqm) in the quarter and net letting came in at 7 million. As of 30.09.20 the occupancy in the management portfolio was 97.4 per cent (96.1 per cent). The average unexpired lease term of contracts was 6.9 years, also if the project portfolio is included.
Entra has signed leases and prepare for start-up of two new redevelopment projects in Oslo.
| Q3-20 | Q3-19 | YTD-20 | YTD-19 | 2019 | |
|---|---|---|---|---|---|
| Rental income | 589 | 577 | 1 763 | 1 743 | 2 338 |
| Net operating income | 543 | 530 | 1 609 | 1 602 | 2 149 |
| Net income from property management | 383 | 360 | 1 089 | 1 087 | 1 471 |
| Profit before tax | 1 354 | 900 | 2 351 | 2 694 | 3 735 |
| Cash Earnings per share | 2.08 | 1.96 | 5.91 | 5.91 | 8.01 |
| EPRA NRV per share | 162 | 150 | 162 | 150 | 154 |
| EPRA NTA per share | 161 | 149 | 161 | 149 | 153 |
| EPRA NAV per share | 160 | 147 | 160 | 147 | 151 |
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, 16 October 2020
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]
Disclaimer
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 90 buildings totalling approximately 1.3 million square meters, located in Oslo and the surrounding region, Bergen, Stavanger 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