Q1 2023 Entra ASA Earnings Call Transcript
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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