12.2.2025 07:00:01 CET | Entra ASA | Half yearly financial reports and audit
reports / limited reviews

Oslo, 12 February 2025 - Rental income was 767 million in Q4 2024 compared to
860 million in Q4 2023, and 3 267 million for the full year compared 3 418
million in 2023. Adjusted for divestments, the underlying rental income growth
was 1.6 per cent for the quarter and 4.3 per cent for the full year. Net income
from property management increased by 7 per cent to 317 million in the quarter,
as the reduction in rental income due to divestments was offset by lower
interest expenses. Net income from property management for the full year was 1
308 million. Changes in the value of investment properties were positive in the
quarter, contributing 273 million, and were -1 894 for the full year. Profit
after tax was 597 million (-2 626 million) in the quarter and 75 million (-5 582
million) for the full year.

Through capital discipline and the completion of its asset divestment program,
including the sale of Grenseveien 78B in the quarter, Entra has significantly
strengthened its balance sheet and improved its debt metrics in 2024.

Entra's letting activity was strong in the first half of 2024, with a positive
net letting of 41 million. However, a slower letting market in the second half
and a few large terminations resulted in net letting of -41 million (23 million)
in the fourth quarter. Entra signed new and renegotiated leases with annual rent
totalling 105 million (54 100 sqm) in the quarter. Lease contracts with an
annual rent of 66 million (27 100 sqm) were terminated. As of 31 December 2024,
the portfolio occupancy was 94.3 per cent (95.3 per cent) and the average
unexpired lease term of contracts was 6.3 (6.3) years.

The Board's focus is currently to further strengthen the company's balance
sheet. To support this, the Board will propose to the Annual General Meeting on
29 April 2025 that no dividend will be paid for 2024. Entra's dividend policy
remains unchanged.



(NOK million)                       | Q4-24 | Q4-23   | 2024   | 2023  
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Rental income                       | 767   | 860     | 3 276  | 3 418 
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Net operating income                | 701   | 789     | 2 991  | 3 136 
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Net income from property management | 317   | 296     | 1 308  | 1 356 
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Net value changes                   | 457   | - 3 440 | -1 332 | -8 152
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Profit/loss after tax               | 597   | -2 626  | 75     | -5 582
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                                    |       |         |        |       
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(NOK per share)                     | Q4-24 | Q4-23   | 2024   | 2023  
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Cash Earnings                       | 1.73  | 1.60    | 7.11   | 7.37  
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EPRA NRV                            | 162   | 167     | 162    | 167   
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EPRA NTA                            | 160   | 165     | 160    | 165   

Including continuing and discontinued operations

 

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 2025

Entra ASA

 

For further queries please contact: Sonja Horn, CEO, tel: +47 905 68 456, email:

sh@entra.no or Ole Anton Gulsvik, CFO, tel: + 47 995 68 520, email: oag@entra.no

DISCLOSURE REGULATION

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/16126567/18418737/5614/Download%20announce
ment%20as%20PDF.pdf

Entra quarterly report Q4-24.pdf -
https://kommunikasjon.ntb.no/ir-files/16126567/18418737/5613/Entra%20quarterly%2
0report%20Q4-24.pdf