Oslo, 26 April 2019 - Rental income was up by seven per cent from 545 million in Q1 2018 to 585 million in Q1 2019. Net income from property management was up by seven per cent to 375 million (349 million). Net value changes came in at 462 million (492 million) in the quarter and profit before tax was 857 million (856 million) in the quarter.
Entra has signed new and renegotiated leases with annual rent totalling 30 million (14,000 sqm) in the quarter. As of 31.03.19 the portfolio occupancy was 96.3 per cent (96.3 per cent) and the average unexpired lease term of contracts was 7.2 (7.4) years.
During the quarter, Entra finalised Powerhouse Brattørkaia in Trondheim, an environment friendly and energy positive office building aiming for BREEAM-NOR Outstanding. The property is 18,200 sqm and is 91 % let.
| Q1-19 | Q1-18 | ||||
| Rental income | 585 | 545 | |||
| Net operating income | 542 | 501 | |||
| Net income from property management | 375 | 349 | |||
| Profit before tax | 857 | 856 | |||
| Cash Earnings per share | 2.03 | 1.88 | |||
| EPRA NAV per share | 146 | 133 | |||
| EPRA NNNAV per share | 135 | 124 | |||
Entra ASA will present its financial and operating results today at 08:30 CET in Biskop Gunnerus' gate 14A 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, 26 April 2019
Entra ASA
For further queries please contact: Arve Regland, CEO, tel: +47 479 07 700, email: ar@entra.no or Anders Olstad, CFO, tel + 47 900 22 559, 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 91 properties 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 48.5 billion.---
