Hold the Presses is your online newsportal en brings press releases from around the world. Journalists can use it for free, although it is their responsibilty to check the news. Hold the Presses is in no way responsible for the content of the press releases, the Sender is. We hope you enjoy reading the news we bring you on this website. If a message is published that is not acceptable, we apologize. Please contact us and we will remove the message as soon as possible.

Friday, 9 February 2018

Entra ASA : Q4-17/FY-17 Continued income and value growth, proposing semi-annual dividend of 2.10 per share

Entra ASA    

Published: 07:00 CET 09-02-2018 /GlobeNewswire /Source: Entra ASA / : ENTRA /ISIN: NO0010716418

Entra ASA : Q4-17/FY-17 Continued income and value growth, proposing semi-annual dividend of 2.10 per share

Oslo, 9 February 2018 - Rental income was up by 4 per cent from 506 million in Q4 2016 to 526 million in Q4 2017, and by 9 per cent from 1,899 million in 2016 to 2,075 million in 2017. Net income from property management was 314 million (273 million) in the quarter and 1,259 million (1,070 million) for 2017, representing a year-on-year increase of 15 per cent in the quarter and 18 per cent for 2017.  Net value changes came in at 865 million (1,128 million) in the quarter and 3,547 million (2,116 million) for 2017. Profit before tax was 1,251 million (1,475 million) in the quarter and 5,030 million (3,306 million) for 2017.

Entra has signed new and renegotiated leases with annual rent totalling 52 million (22,400 sqm) during Q4 and 269 million (115,000 sqm) in 2017. As of 31.12.17 the portfolio occupancy was 97.0 per cent (96.8 per cent) and the average unexpired lease term of contracts was 7.4 (7.7) years.

During the quarter Entra finalised the new-build project Trondheimsporten in Trondheim and the renovation project Powerhouse Kjørbo, block 1. Both properties are fully let on long contracts.

Entra sold the properties Middelthuns gate 29 in Oslo and Tungasletta 2 in Trondheim in the quarter for a total consideration of 1.45 bn. The properties were sold 7 per cent and 9 per cent over book values, respectively.

In line with the dividend policy of distributing approximately 60 per cent of Cash Earnings, the board of Entra propose to distribute a semi-annual dividend of NOK 2.10 per share for the second half of 2017. Entra's total dividend for 2017 will then be NOK 4.10 per share compared to NOK 3.45 per share for 2016.
















Rental income





2 075

1 899

Net operating income





1 913

1 740

Net income from property management




1 259

1 190

Profit before tax



1 251

1 475

5 030

3 306








Cash Earnings per share







EPRA NAV per share







EPRA NNNAV per share














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, 9 February 2018

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 84 buildings totalling approximately 1.2 million square meters, 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 43.4 billion.---


Q4 2017 report

This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Entra ASA, Biskop Gunnerus gate 14, Oslo 0185, Norway
If you would like to unsubscribe and stop receiving these e-mails click here.