Oslo, 17 October 2019 – Rental income was up by 1 per cent to 577 million in Q3 2019 compared to 570 million in Q3 2018. Net income from property management was 360 million (369 million) in the quarter. Net value changes came in at 471 million (204 million) and profit before tax was 900 million (660 million) in the quarter.
Entra has signed new and renegotiated leases with annual rent totalling 43 million (19,000 sqm) in the quarter, while net letting in the quarter came in at 6 million. As of 30.09.19 the portfolio occupancy was 96.1 per cent (96.6 per cent) and the average unexpired lease term of contracts was 6.9 (7.4) years.
During the quarter Entra started a new redevelopment and infill project in Kristian August gate 13 in Tullinkvartalet in Oslo. The project is 4,300 sqm and is 100 % pre-let.
| Q3-19 | Q3-18 | ||||
| Rental income | 577 | 570 | |||
| Net operating income | 530 | 525 | |||
| Net income from property management | 360 | 369 | |||
| Profit before tax | 900 | 660 | |||
| Cash Earnings per share | 1.96 | 1.99 | |||
| EPRA NAV per share | 147 | 137 | |||
| EPRA NNNAV per share | 137 | 127 | |||
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, 17 October 2019
Entra ASA
For further queries please contact: Sonja Horn, CEO, tel: +47 90 56 84 56, email: sh@entra.no or Anders Olstad, CFO, tel + 47 90 02 25 59, 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 89 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 is approximately NOK 48 billion.---
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