Entra ASA: Q2-19 Strong net letting, start of new re-development project in Oslo

Oslo, 11 July 2019 – Rental income was up by 4 per cent to 580 (558) million in Q2 2019 and by 6 per cent to 1,165 (1,103) million for the first six months of 2019 compared to the same period last year. Net income from property management was down by 3 per cent to 352 (364) million in the quarter and up by 2 per cent to 727 (713) million for the first six months. Net value changes came in at 453 (459) million in the quarter and 915 (951) million for the first six months. Profit before tax was 937 (843) million in the quarter and 1,795 (1,699) million for the first six months of 2019. Entra's board has decided to pay a semi-annual dividend of NOK 2.30 per share for the first six months of 2019, compared to NOK 2.20 per share for the same period last year. The dividend will be paid on 10 October 2019 to all shareholders per 1 October 2019.

Entra has signed new and renegotiated leases with annual rent totalling 90 million (36,000 sqm) during Q2 2019, while net letting in the quarter came in at 30 million. As of 30.06.19 the portfolio occupancy was 96.0 (96.7) per cent, and the weighted average unexpired lease term of contracts was 7.0 (7.4) years.

During the quarter, Entra has started up a new re-development project in Universitetsgata 2 (“Rebel U2”), next to Tullinkvartalet in Oslo. Rebel U2 will be a technology and knowledge hub for large and small tech companies. The 28,100 sqm building will consist of office space, co-working areas, conference center and a variation of restaurants.

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, 11 July 2019
Entra ASA

For further queries please contact: Sonja Horn, CEO, tel: +47 90 56 84 56, email: [email protected] or Anders Olstad, CFO, tel + 47 90 02 25 59, email:[email protected]

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 90 buildings totalling approximately 1.3 million square meters, located in Oslo and the surrounding region, Bergen, Stavanger and Trondheim. The market value of the portfolio is approximately NOK 47 billion.---

Attachment

• Q2 H1 2019 report