Q3 2021 Entra ASA Earnings Call Transcript
Good morning, and welcome to Entra's third quarter presentation, brought to you here from Oslo, where we actually walk up to snow this morning. So let's just jump into the highlights. In the quarter, rental income came in at NOK 639 million this quarter versus NOK 589 million same quarter last year. And net income from property management of NOK 402 million. Our external appraisers have increased the valuation of our properties with 1.2% in the quarter, thus leaving us with net value changes of NOK 794 million, and profit before tax in the quarter of NOK 1,126 million. We have finalized 2 large projects in this quarter, both on time and cost. And we also closed on acquisition of the Hotel Savoy also in the Tullinkvartalet this quarter. We have had a solid letting activity, signed leases on more than 51,000 square meters. However, net letting this quarter at minus NOK 44 million, seeing that one of our tenants has chosen not to renew their contracts. We have also received 2 ESG ratings in the quarter from the 2 standards we report on. Very pleased to see that our GRESB rating
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