Entra ASA (OTCPK:ENTOF)

$ 12.29 0 (0%) Market Cap: 1.87 Bil Enterprise Value: 5.35 Bil PE Ratio: 0 PB Ratio: 0.89 GF Score: 76/100

Q2 2021 Entra ASA Earnings Call Transcript

Jul 14, 2021 / 06:30AM GMT

Release Date Price: $22.1

Transcript

Sonja Horn

Entra ASA - CEO

Good morning, and welcome to Entra's second quarter presentation brought you from Oslo. Let me start with some highlights in the quarter. Rental income of NOK 602 million in the quarter versus NOK 587 million same quarter last year. Net income from property management NOK 370 million, and our external appraisers have increased the value of our property portfolio with 1.3% in the quarter, and net value changes of NOK 756 million. Profit before tax thus of NOK 1.126 billion in the quarter. It's been a busy quarter from us. We have rented out 36,600 square meters, leaving us with a net letting of 13 million. We've also acquired 2 properties and increased our stake in Oslo S Utvikling in the quarter, very different transactions also with a slightly different strategic rationale. One acquisition was increasing and strengthening and growing our presence at the Helsfyr portfolio, acquiring a high-quality asset there. One acquisition was a value-add investment in one of our existing clusters in Bergen, and increasing our stake at Oslo S Utvikling securing and strengthening also our role

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