Oslo, 20 April 2018 - Rental income was up by 4 per cent from 525 million in Q1 2017 to 545 million in Q1 2018. Net income from property management was up by 12 per cent to 349 million (311 million). Net value changes came in at 492 million (870 million) and profit before tax was 856 million (1,302 million) in the quarter.
Entra has signed new and renegotiated leases with annual rent totalling 25 million (16,500 sqm) in the quarter. As of 31.03.18 the portfolio occupancy was 96.3 per cent (97.5 per cent) and the average unexpired lease term of contracts was 7.4 (7.7) years.
During the quarter Entra started refurbishing Tollbugata 1 A in Oslo (9,000 sqm). The property is fully let on a long contract.
| Q1-18 | Q1-17 | ||||
| Rental income | 545 | 525 | |||
| Net operating income | 501 | 489 | |||
| Net income from property management | 349 | 311 | |||
| Profit before tax | 856 | 1 032 | |||
| Cash Earnings per share | 1.88 | 1.69 | |||
| EPRA NAV per share | 133 | 110 | |||
| EPRA NNNAV per share | 124 | 101 | |||
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, 20 April 2018
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 84 buildings totalling approximately 1.3 million square meters, located in Oslo and the surrounding region, Bergen, Stavanger and Trondheim. The market value of the portfolio (incl.ownership in associates and JVs) is approximately NOK 45.2 billion.---
