12.2.2021 07:00:00 CET | Entra ASA | Half yearly financial reports and audit reports / limited reviews
Oslo, 12 February 2021 – Rental income was 590 million (595 million) in Q4 2020 and 2,353 (2,338) in 2020. Net income from property management was 362 million (384 million) in the quarter and 1,451 million (1,471 million) for 2020. Net value changes came in at 4,533 million (569 million) in the quarter and 5,705 million (1,955 million) for 2020. Profit before tax was 4,923 million (1,040 million) in the quarter and 7,274 million (3,735 million) for 2020.
There has been very high letting activity in the fourth quarter, and Entra has signed new and renegotiated leases with annual rent totalling 256 million (86,000 sqm) during Q4 20, compared to 208 million (90,000 sqm) during Q4 2019
As of 31.12.20, the portfolio occupancy was 97.9 per cent (97.1 per cent), and the average unexpired lease term of contracts was 7.1 (6.9) years.
Entra’s project portfolio as of 31.12.20 consist of 147,500 sqm to be finalised in the period 2021-2023.
During Q4 2020, Entra finalised the redevelopment of 4,300 sqm in Kristian Augusts gate 13, an environmental pioneer pilot within circular economy where as much as 80 % of the building materials came from re-used materials.
Entra started five new development projects totalling 82,400 sqm during Q4 2020. The new projects are:
Redevelopment of 13,000 sqm in Tordenskiolds gate 12 in Oslo. The project is 92 % pre-let
Redevelopment of 14,200 sqm in Møllendalsveien 6-8 in Bergen. The project is 44 % pre-let
Redevelopment of 15,800 sqm in Stenersgata 1 in Oslo. The project is 57 % pre-let
Redevelopment of 16,500 sqm in St. Olavs plass 5 in Oslo. The project is 60 % pre-let
Redevelopment of 22,900 sqm in Schweigaards gate 15 in Oslo. The project is 31 % pre-let
In line with the dividend policy of distributing approximately 60 per cent of Cash Earnings, the board of Entra will propose to the AGM to distribute a semi-annual dividend of NOK 2.50 per share for the second half of 2020. Entra’s total dividend for 2020 will then be NOK 4.90 per share compared to NOK 4.70 per share for 2019.
Q420
Q419
2020
2019
Rental income
590
595
2 353
2 338
Net operating income
533
547
2 142
2 149
Net income from property management
362
384
1 451
1 471
Profit before tax
4 923
1 040
7 274
3 735
Cash Earnings per share
1.92
2.10
7.83
8.01
EPRA NRV per share
189
154
189
154
EPRA NTA per share
187
153
187
153
EPRA NAV per share
186
151
186
151
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, 12 February 2021
Entra ASA
For further queries please contact: Sonja Horn, CEO, tel: +47 90568456, email: sh@entra.no or Anders Olstad, CFO, tel + 47 900 22559, email: ao@entra.no
Disclaimer
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. Entra owns and manages around 90 buildings totalling approximately 1.3 million square meters, located in Oslo and the surrounding region, Bergen, Stavanger and Trondheim. Entra has a solid customer portfolio with a high proportion of public tenants. The company’s strategy is focused on delivering profitable growth, high customer satisfaction and environmental leadership
Attachments
Download announcement as PDF.pdf
Q4 2020 report.pdf
