14.7.2021 07:00:00 CEST | Entra ASA | Half yearly financial reports and audit reports / limited reviews
Rental income was up by three per cent to NOKm 602 (587) in Q2 2021 and by two per cent to NOKm 1,193 (1,174) for the first six months of 2021 compared to the same period last year. Net income from property management was up by six per cent to NOKm 370 (350) in the quarter and NOKm 740 (706) for the first six months. Net value changes were NOKm 756 (590) in the quarter and NOKm 1,637 (254) for the first six months. Profit before tax was NOKm 1,126 (940) in the quarter and NOKm 2,417 (997) for the first six months of 2021. Entra’s board has decided to pay a semi-annual dividend of NOK 2.50 per share for the first six months of 2021, compared to NOK 2.40 per share for the same period last year. The dividend will be paid on 12 October 2021 to all shareholders as of 1 October 2021.
Entra has signed new and renegotiated leases with annual rent totalling NOK 93 million (36,600 sqm) in the quarter and net letting came in at NOKm 13. As of 30.06.21 the occupancy in the management portfolio was 97.4 per cent (97.6 per cent). The average unexpired lease term of contracts was 6.9 (6.8) years when including the project portfolio.
During the quarter, Entra acquired Fyrstikkalléen 1 at Helsfyr in Oslo and Lars Hilles gate 19 in Bergen and agreed to increase its ownership in Oslo S Utvikling from 1/3 to 50 per cent. Entra has also finalised the refurbishment project in Grønland 32 in Drammen.
NOK million
Q2-21
Q2-20
YTD-21
YTD-20
2020
Rental income
602
587
1 193
1 174
2 353
Net operating income
539
522
1 079
1 066
2 142
Net income from property management
370
350
740
706
1 451
Profit before tax
1 126
940
2 417
997
7 274
Cash Earnings per share
2.01
1.88
4.02
3.83
7.83
EPRA NRV per share
198
159
198
159
189
EPRA NTA per share
196
157
196
157
187
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, 14 July 2021
Entra ASA
For further queries please contact: Sonja Horn, CEO, tel: +47 905 68 456, email: sh@entra.no or Anders Olstad, CFO, tel + 47 900 22 559, email:ao@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. 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
Q2 2021 report.pdf
