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

Q1 2024 Entra ASA Earnings Call Transcript

Apr 23, 2024 / 06:30AM GMT

Release Date Price: $12.29

Transcript

Sonja Horn

Entra ASA - Chief Executive Officer

Welcome to Entra's first quarter presentation here in Oslo. Let me start by a few words on what you can see on the picture here. This is our building in Verkstedveien 1, where we in the quarter have signed a huge contract with Yara International.

So starting with the highlights in the quarter, we have rental income of NOK878 million in the quarter. That is a 1% rental growth compared to same quarter last year. The underlying rental growth is 6.5% when adjusting for divestments and one-off effects from the first quarter last year.

Our net income from property management is affected by higher interest costs and was NOK325 million in the quarter. And our net value changes came in with a negative of [NOK1.627 billion] in the quarter, predominantly explained by the increase of the discount rates from our external appraisers with an average of 10 basis points, leaving us then with a loss before tax of [NOK1.313 billion].

We were very pleased to see that we have had a very high letting activity in the quarter, leaving us with a solid

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