Entra

Earnings Release • Feb 16, 2016

Entra ASA : Profit after tax of NOK 2.7 bn in 2015 (+ 265% on 2014), proposing dividend of NOK 3 per share (+ 20% on 2014)

Entra ASA : Profit after tax of NOK 2.7 bn in 2015 (+ 265% on 2014), proposing dividend of NOK 3 per share (+ 20% on 2014)

Oslo, 16 February 2016 - Entra ASA recorded rental income of NOK 437 million in

Q4 2015 (NOK 449 million) and NOK 1,760 million (NOK 1,772 million) in 2015. Net

income from property management was NOK 331 million (NOK 328 million) in the

quarter and NOK 1,421 million (NOK 1,399 million) in 2015. Profit after tax was

NOK 774 million (NOK 326 million) in the quarter and NOK 2,721 million (NOK

1,026 million) in 2015.

"I am very satisfied with our financial and operational results. During 2015 we

have signed lease contracts representing NOK 300 million in annual rent,

finalised several profitable development projects and rotated our portfolio to

further strengthen our strategic focus on central properties in Norway's largest

cities", says Entra's Chief Executive Arve Regland. "As a result of solid

project developments, positive letting activities and yield reduction in our

core markets Entra's property values have increased with NOK 403 million in the

fourth quarter and NOK 1,818 million in 2015", he continues.

Adjusted for sales of non-core assets, rental income grew by 6 % year-on-year.

The EBIT margin was improved from 79 % to 81 % resulting primarily from

administrative cost efficiencies and the average interest rate was reduced by

76 basis points year-on-year. The board propose to distribute a dividend of NOK

3 per share, up from NOK 2.5 per share in 2014.

Entra continued its high letting activity and signed new and renegotiated leases

with an annual rent totalling NOK 104 million in the quarter and NOK 300 million

in 2015. The portfolio occupancy rate increased from 94.6 % to 95.0 % during

2015. At year-end the management portfolio WAULT was 7.6 years and public sector

tenants represented 74 % of the customer portfolio.

Q4-15 Q4-14 2015 2014

Rental income (NOKm)   437 449 1,760 1,772

Net income from property management (NOKm)   331 328 1,421 1 399

Profit for the period (NOKm)   774 326 2,721 1,026

Earnings per share (NOK)*   4.2 1.8 14.4 5.6

Cash earnings per share (NOK)*/**   1.2 0.9 5.0 4.1

Net asset value  - EPRA NAV per share (NOK)*   88.9 76.4 88.9 76.4

* 183.7 million shares ** Cash earnings in 2015 has been adjusted by NOK 115

million due to termination of swap contracts in Q2-2015. The termination fee is

defined as a one-off item and will thus not reduce cash earnings as a basis for

dividend for 2015

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

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

Oslo, 16 February 2015

Entra ASA

For further queries please contact: Arve Regland, CEO, tel: +47 479 07700,

email: ar@entra.no or Anders Olstad, CFO, tel + 47 900 22559, email:ao@entra.no

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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

Norway. Entra owns and manages 96 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 30 billion.---

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