Entra ASA (OTCPK:ENTOF)

$ 12.29 0 (0%) Market Cap: 1.87 Bil Enterprise Value: 5.45 Bil PE Ratio: 0 PB Ratio: 0.89 GF Score: 76/100

Q1 2023 Entra ASA Earnings Call Transcript

Apr 25, 2023 / 06:30AM GMT

Release Date Price: $12.29

Transcript

Sonja Horn

Entra ASA - CEO

Good morning all, and welcome to Entra's first quarter presentation. Let's start with the highlights in the quarter. Rental income came in at NOK 872 million. That is 12% up from same quarter last year. Net income from property management of 391 million, slightly down from same quarter last year, however, up by 22% since the fourth quarter. Net value changes, negative of NOK 451 million whereof NOK 421 million is related to the property portfolio, leaving us then with a loss before tax of NOK 70 million in the quarter.

Key events. Pleased to see that we had a strong rental growth of 12%. And that this time, it's mainly driven by finalized projects and also rental growth in the management portfolio, including the CPI. Net letting also high in the quarter with NOK 5 million, and we are now also preparing to start one new small project in Sandvika. Pleased also to see that we had successfully divested 1 asset in the quarter at (inaudible) and 32 in Drammen.

If you move on to operations and the market. As I said, we had high activity in the quarter. We signed new

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