Aurora Eiendom AS — Earnings Release 2025

Apr 30, 2025

Aurora Eiendom AS – Preliminary Q1 2025 highlights

Aurora Eiendom AS – Preliminary Q1 2025 highlights

Aurora Eiendom AS (AURA) hereby announces the following preliminary Q1 2025 highlights (comparable 2024 results in brackets):

* Rental income in Q1 2025 was NOK 151 million (NOK 150 million), which corresponds to a like-for like growth of 0.7%.

* Net income from property management was NOK 123 million in the quarter (NOK 127 million).

* Pre-tax profit, including fair value adjustments of investment properties and interest rate derivatives, was NOK 21 million (NOK 82 million). Fair-value adjustments on investment properties amounted to NOK -34 million and on financial derivatives NOK -6 million.

* In Q1 2025 new leases were started on a total area of 2,228 sqm, while leases for 1,990 sqm expired. Occupancy was 97.4%.

* The quarter´s gross tenant turnover in our fully owned centers was NOK 1,911 million, which is a like-for-like growth of 2% compared to Q1 2024.

* During Q1 2025 Alti Forvaltning increased its shopping center portfolio by 6 centers, managing a total of 60 centers across Norway.

* Key figures Q1 2025 Aurora Eiendom:

- Rental income: NOK 151 million

- Annualised cash passing rental income: NOK 603 million

- Value of investment properties: NOK 8,588 million

- Loan to value: 54%

- EPRA NRV per share: NOK 133

- EPRA NIY: 6.12%

- EPRA “topped-up” NIY: 6.31%

The full Q1 2025 report will be published on 15 May 2025.