Entra

Earnings Release • Feb 12, 2025

Q4/FY 2024: Increased net income from property management, completion of asset divestment program

Q4/FY 2024: Increased net income from property management, completion of asset divestment program

12.2.2025 07:00:01 CET | Entra ASA | Half yearly financial reports and audit

reports / limited reviews

Oslo, 12 February 2025 - Rental income was 767 million in Q4 2024 compared to

860 million in Q4 2023, and 3 267 million for the full year compared 3 418

million in 2023. Adjusted for divestments, the underlying rental income growth

was 1.6 per cent for the quarter and 4.3 per cent for the full year. Net income

from property management increased by 7 per cent to 317 million in the quarter,

as the reduction in rental income due to divestments was offset by lower

interest expenses. Net income from property management for the full year was 1

308 million. Changes in the value of investment properties were positive in the

quarter, contributing 273 million, and were -1 894 for the full year. Profit

after tax was 597 million (-2 626 million) in the quarter and 75 million (-5 582

million) for the full year.

Through capital discipline and the completion of its asset divestment program,

including the sale of Grenseveien 78B in the quarter, Entra has significantly

strengthened its balance sheet and improved its debt metrics in 2024.

Entra's letting activity was strong in the first half of 2024, with a positive

net letting of 41 million. However, a slower letting market in the second half

and a few large terminations resulted in net letting of -41 million (23 million)

in the fourth quarter. Entra signed new and renegotiated leases with annual rent

totalling 105 million (54 100 sqm) in the quarter. Lease contracts with an

annual rent of 66 million (27 100 sqm) were terminated. As of 31 December 2024,

the portfolio occupancy was 94.3 per cent (95.3 per cent) and the average

unexpired lease term of contracts was 6.3 (6.3) years.

The Board's focus is currently to further strengthen the company's balance

sheet. To support this, the Board will propose to the Annual General Meeting on

29 April 2025 that no dividend will be paid for 2024. Entra's dividend policy

remains unchanged.

(NOK million) | Q4-24 | Q4-23 | 2024 | 2023

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Rental income | 767 | 860 | 3 276 | 3 418

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Net operating income | 701 | 789 | 2 991 | 3 136

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Net income from property management | 317 | 296 | 1 308 | 1 356

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Net value changes | 457 | - 3 440 | -1 332 | -8 152

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Profit/loss after tax | 597 | -2 626 | 75 | -5 582

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(NOK per share) | Q4-24 | Q4-23 | 2024 | 2023

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Cash Earnings | 1.73 | 1.60 | 7.11 | 7.37

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EPRA NRV | 162 | 167 | 162 | 167

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EPRA NTA | 160 | 165 | 160 | 165

Including continuing and discontinued operations

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, 12 February 2025

Entra ASA

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

sh@entra.no or Ole Anton Gulsvik, CFO, tel: + 47 995 68 520, email: oag@entra.no

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/16126567/18418737/5614/Download%20announce

ment%20as%20PDF.pdf

Entra quarterly report Q4-24.pdf -

https://kommunikasjon.ntb.no/ir-files/16126567/18418737/5613/Entra%20quarterly%2

0report%20Q4-24.pdf