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27/04-2017 07:00:44: (ENTRA) Entra ASA : Q1-17: Strong income and value development

Entra ASA : Q1-17: Strong income and value development












Oslo, 27 April 2017 - Rental income was up by 16 per cent from 454 million in Q1 2016 to 525 million in Q1 2017. Net income from property management was 311 million (278 million) in the quarter, representing a year-on-year increase of 12 per cent.  Net value changes came in at 870 million (20 million) in the quarter and profit before tax was 1,302 million (284 million).

Entra has signed new and renegotiated leases with annual rent totalling 145 million (60,000 sqm) during Q1 2017. As of 31.03.17 the management portfolio occupancy was 97.5 per cent (94.7 per cent) and the average unexpired lease term of contracts was 6.8 (7.5) years.

During the quarter Entra started up a new 3,200 sqm renovation project at Kjørbo in Sandvika, which is 100 per cent pre-let to Norconsult.  

Given a positive vote in the AGM today the Entra share will be trading ex the right to a semi-annual dividend of NOK 1.75 per share from tomorrow 28 April 2017.

                                                                                                                

      Q1-17 Q1-16 2016
           
Rental income     525 454 1 899
Net operating income     489 429 1 740
Net income from property management   311 278 1 070
Profit before tax     1 302 284 3 306
           
Cash Earnings per share     1.69 1.52 5.80
EPRA NAV per share     110 90 101
EPRA NNNAV per share     101 82 93
           

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, 27 April 2017

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 93 buildings totalling approximately 1.3 million square meters, primarily 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 40 billion.---

 





This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Entra ASA via Globenewswire


Nyheten er levert av GlobeNewswire.

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mandag 16/07-2018 20:35:27