Oct 16, 2020 / 06:30AM GMT
Sonja Horn - Entra ASA - CEO
Good morning, and welcome to Entra's third quarter presentation, brought to you live here from Oslo. Let's start with some highlights in this quarter.
As expected, rental income was up 2% and came in at NOK 589 million versus NOK 577 million in the last quarter. The effects of COVID-19 and infection control measures have had very limited effect on our operations and also on our financials in both in this quarter and also so far into the pandemic.
Net income from property management was up with 6% to NOK 383 million versus NOK 360 million in the same quarter last year. Net value changes this quarter of NOK 918 million, whereof NOK 892 million from positive value changes in the property portfolio. The Norwegian property market is seeing an ongoing yield compression after the key policy rates were reduced from 1.5% in the second quarter this year to 0%.
Our profit before tax came in at NOK 1.354 billion versus NOK 900 million in the same quarter last year. We've also had a very solid quarter in respect of letting, net letting of NOK 7 million. And we
Q3 2020 Entra ASA Earnings Call Transcript
Mar 01, 2024
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