Entra

Earnings Release • Feb 9, 2024

Q4/FY 2023: Solid rental income growth and operations, results continue to be impacted by higher interest costs and negative value changes

Q4/FY 2023: Solid rental income growth and operations, results continue to be impacted by higher interest costs and negative value changes

9.2.2024 07:00:00 CET | Entra ASA | Half yearly financial reports and audit

reports / limited reviews

Rental income was up by seven per cent to 860 million in Q4 2023, and by eight

per cent to 3 418 million in 2023. Net income from property management was

impacted by higher interest costs and came in at 296 million in the quarter and

1 356 million in 2023. Net value changes was -3 440 million in the quarter and

-8 152 million in 2023. Loss before tax was -3 164 million in the quarter and -6

868 million in 2023.

Entra has signed new and renegotiated leases with annual rent totalling 180

million (83,800 sqm) in the quarter, net letting was 23 million. As of 31.12.23

the occupancy in the management portfolio was 95.3 per cent and the average

unexpired lease term of contracts was 6.3 years, including the project

portfolio.

During the quarter Entra finalised a redevelopment project in Stenersgata 1 in

Oslo. Further, Entra sold the property Marken 37 in Bergen and the two

properties in Cort Adelers gate 30 in Oslo for total gross asset value of 1 020

million with closing in January 2024. In February 2024, Entra signed a letter of

intent regarding a sale of the Trondheim portfolio for gross asset value 6 450

million.

(NOK million) | Q4-23 | Q4-22 | 2023 | 2022

---------------------------------------------------------------------

Rental income | 860 | 806 | 3 418 | 3 158

---------------------------------------------------------------------

Net operating income | 789 | 732 | 3 136 | 2 895

---------------------------------------------------------------------

Net income from property management | 296 | 320 | 1 356 | 1 603

---------------------------------------------------------------------

Loss before tax | -3 164 | -206 | -6 868 | -467

---------------------------------------------------------------------

| | | |

---------------------------------------------------------------------

(NOK per share) | Q4-23 | Q4-22 | 2023 | 2022

---------------------------------------------------------------------

Cash Earnings | 1.60 | 1.74 | 7.37 | 8.63

---------------------------------------------------------------------

EPRA NRV | 167 | 207 | 167 | 207

---------------------------------------------------------------------

EPRA NTA | 165 | 205 | 165 | 205

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, 9 February 2024

Entra ASA

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

sh@entra.no or Anders Olstad, CFO, tel + 47 900 22 559, email:ao@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/16126567/2905/4053/Download%20announcement

%20as%20PDF.pdf

Q4 2023 report.pdf -

https://kommunikasjon.ntb.no/ir-files/16126567/2905/4052/Q4%202023%20report.pdf