Entra

Earnings Release • Jul 14, 2015

Entra ASA: Q2 2015 - Increasing values and positive net letting

Entra ASA: Q2 2015 - Increasing values and positive net letting

Oslo, 14 July 2015 - Entra ASA recorded rental income of NOK 423 million in Q2

2015 (NOK 442 million) and NOK 864 million (NOK 875 million) for the first half

of 2015.  Net income from property management was NOK 353 million (NOK 363)

million) in Q2 2015 and NOK 713 million (NOK 706 million) year to date. Profit

before tax was NOK 661 million (NOK 324 million) in the quarter and NOK 1,677

(NOK 415 million) in the first half of 2015.

"I am satisfied with our financial and operational results so far in 2015.

Entra's property values have increased with NOK 178 million in the quarter and

NOK 893 million during the first six months of 2015 as a result of solid project

developments, positive letting activities and yield compression on our central

Oslo assets", says Entra's Chief Executive Arve Regland.

"We are proud to have finalised the new build project in Schweigaardsgate 16 in

Oslo. Statoil Fuel and Retail occupied the premises late June and we look

forward to welcome Dinamo Norge in August", Mr. Regland continues.

Reduction in rental income results from the divestment of 10 non-core properties

in Q4 2014 and Q1 2015. The underlying like-for-like rental growth on the lease

contracts was 2.2 per cent from Q2 2014 to Q2 2015. Improved operating margin is

mainly driven by reduction in administrative costs.

In addition to finalising the new build project in Schweigaardsgate 16 in Oslo

Entra has started up two new renovation projects at Helsfyr in Oslo during the

second quarter of 2015.

Entra signed new and renegotiated leases with an annual rent totalling NOK 30

million in the quarter and received notices of termination on leases with an

annual rent of NOK 4.8 million. Increased rent on the renegotiated contracts was

on average 8.6%.

Q2-15 Q2-14 YTD-15 YTD-14 2014

Rental income (NOKm) 423 442 864 875 1 772

Net income from property management (NOKm) 353 363 713 706 1 399

Total comprehensive income (NOKm) 506 245 1,454 315 1 000

Earnings per share (NOK) 2.7 1,638 7.8 2,113 5.6

Cash earnings per share (NOK) 0.6 1,429 1.7 2,729 4.1

Net asset value  - EPRA NAV per share (NOK) 81.0 79,694 81.0 79,694 76.4

Entra ASA will present its financial and operating results today at 08:30 CET in

Biskop Gunnerus' gate 14 in Oslo. A live webcast of the presentation as well as

full interim quarterly report is available on the company website www.entra.no

--- Entra is a leading owner, manager and developer of office properties in

Norway. Entra owns and manages 98 buildings totalling approximately 1.2 million

square meters, primarily located in Oslo and the surrounding region, Bergen,

Stavanger and Trondheim. The market value of the property portfolio is

approximately NOK 28 billion.---

Oslo, 14 July 2015

Entra ASA

Corporate Communication

For further queries please contact: Arve Regland, CEO Entra ASA, tel:

+47 479 07700, email: ar@entra.no

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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