AI Terminal
Entra
Earnings Release • Apr 23, 2021
3596_rns_2021-04-23_ca138ee0-f23e-4f3e-a683-cab9d0e3863e.pdf
Earnings Release
Open in ViewerOpens in native device viewer
Q1-21: Solid portfolio and value growth
23.4.2021 07:00:00 CEST | Entra ASA | Additional regulated information required to be disclosed under the laws of a member state
Oslo, 23 April 2021 – Rental income came in at 591 million in Q1 2021 compared to 587 million in Q1 2020. Net income from property management was 370 million (357 million). Net value changes came in at 880 million (-337 million) in the quarter and profit before tax was 1,290 million (58 million).
Entra has signed new and renegotiated leases with annual rent totalling 57 million (36,800 sqm) in the quarter. As of 31.03.21 the portfolio occupancy was 98.1 per cent (97.4 per cent) and the average unexpired lease term of contracts was 6.9 (7.0) years.
During the quarter, Entra started up the two new-build projects, Holtermanns veg 1-13 (phase 2) in Trondheim (20,900 sqm) and Nygårdsgaten 91/93 in Bergen (11,900 sqm). Entra also acquired the properties Kanalpiren at Hinna Park in Stavanger (25,900 sqm) through its 50 per cent owned Hinna Park Eiendom AS and Møllendalsveien 1 A in Bergen (5,800 sqm).
| Q1-21 | Q1-20 | |
|---|---|---|
| Rental income | 591 | 587 |
| Net operating income | 539 | 545 |
| Net income from property management | 370 | 357 |
| Profit before tax | 1,290 | 58 |
| Cash Earnings per share | 2.01 | 1.94 |
| EPRA NRV per share | 194 | 156 |
| EPRA NTA per share | 192 | 154 |
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.
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