Entra ASA (FRA:2EN)

€ 9.58 0.07 (0.74%) Market Cap: 1.82 Bil Enterprise Value: 4.48 Bil PE Ratio: 0 PB Ratio: 0.94 GF Score: 75/100

Q3 2024 Entra ASA Earnings Call Transcript

Oct 17, 2024 / 06:30AM GMT

Release Date Price: €10.08 (-6.49%)

Transcript

Key Points

Positve

Entra ASA (LTS:0R3Y) reported a rental income growth of 4.4% when adjusted for divestments and one-offs.
The company's net asset value increased for the first time since Q1 2022, currently at NOK160 per share.
Entra ASA's effective leverage is now below 50%, indicating improved debt metrics.
The company completed a project in Sandvika Malmskriverveien 16 on time and NOK11 million below the initial project cost, achieving a yield on cost of 5.6%.
Entra ASA achieved the highest ranking in the GRESB score with five stars and received EPRA gold level for sustainability reporting.

Negative

Rental income for the quarter was NOK63 million below the same quarter last year due to divestments.
The company experienced a negative net letting of NOK76 million in the quarter.
Occupancy rate decreased to 94.4%, below the company's targets.
The Board decided not to pay out dividends for the first half to focus on strengthening the balance sheet.
The letting market activity slowed down in the third quarter, with a less progressed leads pipeline.

Sonja Horn

Entra ASA - Chief Executive Officer

Good morning all, and welcome to Entra's third quarter presentation. Moving on directly to the highlights, NOK770 million of rental income in the quarter, that is NOK63 million below same quarter last year affected by divestments in the past year. Our rental income growth currently then at 4.4% when adjusted for divestments and oneoffs.

Net income from property management of NOK318 million in the quarter and net value changes was minus NOK164 million in the quarter due to negative value changes on financial instruments. We were pleased to see that the property valuations came out positive in the quarter.

Leaving us then with a profit before tax of NOK156 million this quarter. We have seen that our net asset value has increased in the quarter for the first time now since Q1 '22, currently at the NOK160 per share and we have continued to see improvements in our depth metrics in the quarter. Effective leverage is now below 50% and ICR in the quarter above 2.0.

We have had a negative net letting of NOK76 million in the quarter. And

Already have an account? Log in

Get the full story

Start 7-Day Free Trial

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

30-Day 100% money back guarantee

You are not charged until the trial ends. Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App 中文

Education

Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.