Oslo, 11 July 2018 - Rental income was up by 8 per cent to 558 (517) million in Q2 2018 and by 6 per cent to 1,103 (1,042) million for the first six months of 2018 compared to the same period last year. Net income from property management was up by 11 per cent to 364 (328) million in the quarter and by 12 per cent to 713 (638) million for the first six months. Net value changes came in at 459 (1,113) million in the quarter and 951 (1,982) million for the first six months. Profit before tax was 843 (1,446) million in the quarter and 1,699 (2,748) million for the first six months of 2018. Entra's board has decided to pay a semi-annual dividend of NOK 2.20 per share for the first six months of 2018, compared to NOK 2.00 per share for the same period last year. The dividend will be paid on 10 October 2018 to all shareholders per 1 October 2018.

Entra has signed new and renegotiated leases with annual rent totalling 79 million (33,000 sqm) during Q2 2018, while net letting in the quarter came in at 34 million. As of 30.06.18 the portfolio occupancy was 96.7 (97.7) per cent, and the weighted average unexpired lease term of contracts was 7.4 (7.7) years.

During the quarter, Entra finalised a 10,500 sqm new-build project at Brattørkaia 16 in Trondheim. The property is fully let to BI Norwegian Business School. Entra also started up a 11,500 sqm new-build project in Holtermanns veg 1-13 in Trondheim during the quarter. The project is currently 53 per cent to the Norwegian Tax Authority.

In June 2018, Entra acquired a large development site at Bryn in Oslo. The total land plot is 38,140 square meters with an expected development potential of around 120,000 square meters of office- and residential areas. As part of the transaction, Entra has partnered with JM Norge AS who will later acquire the land zoned for residential development. The total transaction value is NOK 1.1 bn to be paid on closing + up to 0.3 bn to be paid upon zoning. Entra also acquired two adjacent land plots in Bergen for NOK 135 mill. Current zoning allows for a new-build of approximately 12,500 sqm on the land plots. Through these transactions Entra has increased its long-term development pipeline in attractive and centrally located areas in Oslo and Bergen.

                                                                                                                

      Q2-18 Q2-17 H1-18 H1-17 2017
               
Rental income     558 517 1 103 1 042 2 075
Net operating income     516 476 1 018 965 1 913
Net income from property management   364 328 713 638 1 259
Profit before tax     843 1 446 1 699 2 748 5 030
               
Cash Earnings per share     1.97 1.76 3.85 3.45 6.81
EPRA NAV per share     136 117 136 117 127
EPRA NNNAV per share     126 108 126 108 118
               

Entra ASA will present its financial and operating results today at 08:30 CET in Biskop Gunnerus' gate 14 in Oslo. A live webcast of the presentation as well as the full quarterly report is available on the company website www.entra.no

Oslo, 11 July 2018 Entra ASA

For further queries please contact: Arve Regland, CEO, tel: +47 479 07 700, email: ar@entra.no or Anders Olstad, CFO, tel + 47 900 22 559, email:ao@entra.no

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

--- Entra is a leading owner, manager and developer of office properties in Norway. Entra owns and manages 88 buildings totalling approximately 1.3 million square meters, located in Oslo and the surrounding region, Bergen, Stavanger and Trondheim. The market value of the portfolio is approximately NOK 44 billion.---

Attachment