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Oslo, 29 April 2025 - Rental income was 774 million in Q1 2025 compared to 878
million in Q1 2024. Adjusted for divestments, the underlying rental income
growth was 2.6 per cent. Net income from property management was 320 million
(325 million), with reduction in rental income due to divestments largely offset
by lower interest expenses. Changes in the value of investment properties were
flat at -6 million. Profit before tax was 280 million (-1 313 million) and net
asset value (EPRA NRV) increased to 163 per share.
During the first quarter, Entra issued 3.1 billion in bonds and refinanced 17.0
billion of bank debt, establishing a flexible long-term financing structure and
extending the average time to maturity to 4.0 years, thereby increasing
financial resilience. Entra continues to strengthen its debt metrics this
quarter.
Gross letting was relatively high in Q1 2025, with new and renegotiated leases
signed for an annual rent totalling 98 million (34 900 sqm). Lease contracts
with an annual rent of 117 million (30 400 sqm) were terminated. Net letting
totalled -73 million (27 million) for the quarter. As of 31 March 2025,
portfolio occupancy was 93.8 per cent (95.3 per cent) with an average unexpired
lease term of contracts at 6.2 years (6.4 years).
(NOK million) | Q1-25 | Q1-24 | 2024
Rental income | 774 | 878 | 3 267
Net operating income | 708 | 799 | 2 991
Net income from property management | 320 | 325 | 1 308
Net value changes | -32 | -1 627 | -1 332
Profit/loss after tax | 212 | -979 | 75
| | |
(NOK per share) | Q1-25 | Q1-24 | 2024
Cash Earnings | 1.74 | 1.77 | 7.11
EPRA NRV | 163 | 158 | 162
EPRA NTA | 161 | 157 | 160
Including continuing and discontinued operations
Entra ASA will present its financial and operational 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, 29 April 2025
Entra ASA
For further queries please contact: Sonja Horn, CEO, tel: +47 905 68 456, email:
sh@entra.no or Ole Anton Gulsvik, CFO, tel: + 47 995 68 520, email: oag@entra.no
DISCLOSURE REGULATION
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.
The company owns and manages around 80 properties, totalling approximately 1.3
million square metres, located in the Greater Oslo region, Bergen, and
Stavanger. Entra’s tenant base primarily comprises public sector entities and
high-quality private tenants on long-term leases. The company’s strategy focuses
on creating value through profitable growth, being the preferred office
provider, and environmental leadership.
ATTACHMENTS
Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/16126567/18508801/6006/Download%20announce
ment%20as%20PDF.pdf
Q1-2025 Report.pdf -
https://kommunikasjon.ntb.no/ir-files/16126567/18508801/6004/Q1-2025%20Report.pd
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