| All figures in NOK millions | Q2-18 | Q1-18 | Q4-17 | Q3-17 | Q2-17 | Q1-17 | Q4-16 | Q3-16 | Q2-16 | Q1-16 | Q4-15 | Q3-15 | Q2-15 | Q1-15 | 2017 | 2016 | 2015 | 2014 | 2013 |
| Rental income | 558,1 | 545,1 | 525,8 | 506,7 | 517,0 | 525,1 | 506,4 | 476,8 | 462,6 | 453,5 | 437,2 | 458,6 | 423,4 | 440,4 | 2.074,7 | 1.899,4 | 1.759,7 | 1.772,0 | 1.632,3 |
| Change period-on-period | 7,9% | 3,8% | 3,8% | 6,3% | 11,8% | 15,8% | 15,8% | 4,0% | 9,3% | 3,0% | -2,6% | 2,5% | -4,3% | 1,7% | 9,2% | 7,9% | -0,7% | 8,6% | 2,8% |
| Net operating income | 516,4 | 501,2 | 480,0 | 467,9 | 476,0 | 489,1 | 454,9 | 434,8 | 421,5 | 428,9 | 376,0 | 410,9 | 381,0 | 406,5 | 1.913,1 | 1.740,1 | 1.574,4 | 1.624,3 | 1.475,0 |
| Change period-on-period | 8,5% | 2,5% | 5,5% | 7,6% | 12,9% | 14,0% | 21,0% | 5,8% | 10,6% | 5,5% | -6,7% | 1,0% | -8,3% | 1,8% | 9,9% | 10,5% | -3,1% | 10,1% | 2,6% |
| Net income from property management | 364,2 | 349,1 | 314,3 | 306,8 | 327,8 | 311,0 | 272,8 | 260,5 | 257,9 | 278,3 | 220,2 | 258,4 | 110,2 | 210,3 | 1.259,4 | 1.069,6 | 799,1 | 773,8 | 525,2 |
| Change period-on-period | 11,1% | 12,3% | 15,2% | 17,8% | 27,1% | 11,7% | 23,9% | 0,8% | 134,1% | 32,3% | 68,3% | 15,4% | -49,4% | 4,5% | 17,8% | 33,8% | 3,3% | 47,4% | na |
| Profit before tax | 842,9 | 855,8 | 1.250,5 | 1.031,1 | 1.446,3 | 1.302,0 | 1.474,6 | 757,4 | 789,5 | 284,4 | 717,0 | 680,6 | 661,0 | 1.016,2 | 5.029,9 | 3.306,0 | 3.074,9 | 1.377,0 | 457,6 |
| Change period-on-period | -41,7% | -34,3% | -15,2% | 36,1% | 83,2% | 357,8% | 105,7% | 11,3% | 19,4% | -72,0% | 65,0% | 29,0% | 104,3% | 1.014,7% | 52,1% | 7,5% | 123,3% | 200,9% | -43,4% |
| Profit after tax | 694,0 | 733,6 | 1.400,9 | 823,2 | 1.246,0 | 1.044,3 | 1.315,7 | 582,4 | 603,0 | 221,3 | 774,5 | 492,4 | 506,4 | 948,1 | 4.514,3 | 2.722,3 | 2.721,3 | 1.025,7 | 465,7 |
| Change period-on-period | -44,3% | -29,8% | 6,5% | 41,4% | 106,6% | 371,9% | 69,9% | 18,3% | 19,1% | -76,7% | 137,7% | 28,0% | 106,9% | 1.247,4% | 65,8% | 0,0% | 165,3% | 120,2% | -34,8% |
| Market value of the property portfolio* | 43.671,4 | 42.765,3 | 40.036,1 | 38.431,5 | 37.553,8 | 36.986,8 | 35.784,8 | 35.191,1 | 32.046,7 | 29.862,5 | 29.598,0 | 28.756,3 | 28.085,8 | 27.688,6 | 40.036,1 | 35.784,8 | 29.598,0 | 28.358,0 | 24.963,0 |
| Net nominal interest-bearing debt | 17.734,2 | 17.207,5 | 17.852,4 | 17.377,5 | 17.477,7 | 17.631,0 | 17.453,7 | 17.515,7 | 15.038,8 | 14.514,9 | 14.639,6 | 12.843,0 | 12.901,1 | 12.270,6 | 17.852,4 | 17.453,7 | 14.639,6 | 13.889,8 | 14.350,1 |
| Loan to value* | 40,6% | 40,2% | 43,3% | 43,9% | 45,3% | 46,4% | 47,6% | 48,7% | 45,9% | 45,2% | 46,1% | 43,9% | 45,2% | 43,7% | 43,3% | 47,6% | 46,1% | 48,4% | 56,6% |
| Interest coverage ratio* | 3,7 | 3,6 | 2,9 | 2,9 | 3,1 | 2,9 | 2,8 | 2,7 | 2,7 | 2,8 | 2,6 | 2,9 | 2,5 | 2,3 | 3,0 | 2,7 | 2,5 | 2,0 | 1,8 |
| EPRA NAV | 25.014,2 | 24.519,2 | 23.372,5 | 22.171,5 | 21.534,4 | 20.234,1 | 18.612,8 | 17.125,7 | 16.748,2 | 16.591,5 | 16.342,2 | 15.626,4 | 14.885,7 | 14.951,0 | 23.372,5 | 18.612,8 | 16.341,7 | 14.034,7 | 10.949,1 |
| EPRA NNNAV | 23.196,4 | 22.747,6 | 21.665,4 | 20.475,1 | 19.875,8 | 18.624,6 | 17.153,8 | 15.534,4 | 15.176,3 | 15.104,9 | 14.954,6 | 14.253,6 | 13.626,2 | 13.518,7 | 21.665,4 | 17.153,8 | 14.954,1 | 12.491,6 | 9.847,8 |
| Number of shares | 183,7 | 183,7 | 183,7 | 183,7 | 183,7 | 183,7 | 183,7 | 183,7 | 183,7 | 183,7 | 183,7 | 183,7 | 183,7 | 183,7 | 183,7 | 183,7 | 183,7 | 183,7 | 0,1 |
| All figures in NOK per share* | Q2-18 | Q1-18 | Q4-17 | Q3-17 | Q2-17 | Q1-17 | Q4-16 | Q3-16 | Q2-16 | Q1-16 | Q4-15 | Q3-15 | Q2-15 | Q1-15 | 2.017,0 | 2.016,0 | 2.015,0 | 2.014,0 | 2.013,0 |
| EPRA NAV | 136,2 | 133,5 | 127,2 | 120,7 | 117,2 | 110,2 | 101,3 | 93,2 | 91,2 | 90,3 | 89,0 | 85,1 | 81,0 | 81,4 | 127,2 | 101,3 | 89,0 | 76,4 | 76.998,0 |
| Change period-on-period | 16,2% | 21,2% | 25,6% | 29,5% | 28,6% | 22,0% | 13,9% | 9,6% | 12,5% | 11,0% | na | na | na | na | 25,6% | 13,9% | 16,4% | na | na |
| EPRA NNNAV | 126,3 | 123,8 | 117,9 | 111,5 | 108,2 | 101,4 | 93,4 | 84,6 | 82,6 | 82,2 | 81,4 | 77,6 | 74,2 | 73,6 | 117,9 | 93,4 | 81,4 | 68,0 | 69.253,0 |
| Change period-on-period | 16,7% | 22,1% | 26,3% | 31,8% | 31,0% | 23,3% | 14,7% | 9,0% | 11,4% | 11,7% | na | na | na | na | 26,3% | 14,7% | 19,7% | na | na |
| EPRA Earnings | 1,5 | 1,4 | 1,4 | 1,2 | 1,4 | 1,2 | 1,2 | 1,0 | 1,0 | 1,1 | 0,8 | 0,8 | 0,9 | 0,8 | 5,2 | 4,3 | 3,3 | 3,0 | 3.158,0 |
| Change period-on-period | 5,4% | 8,9% | 13,0% | 30,1% | 33,6% | 15,7% | 52,3% | 12,5% | 19,9% | 40,1% | na | na | na | na | 22,5% | 31,4% | 8,3% | na | na |
| Cash earnings**/*** | 2,0 | 1,9 | 1,7 | 1,7 | 1,8 | 1,7 | 1,5 | 1,4 | 1,4 | 1,5 | 1,2 | 1,4 | 0,6 | 1,2 | 6,8 | 5,8 | 5,0 | 4,1 | 3.833,3 |
| Change period-on-period | 12,2% | 11,3% | 16,1% | 17,4% | 25,0% | 11,7% | 22,2% | 0,8% | 138,5% | 32,0% | na | na | na | na | 17,4% | 17,0% | 20,8% | na | na |
| Dividend per share**** | 2,2 | 0,0 | 2,1 | 0,0 | 2,0 | 0,0 | 1,8 | 0,0 | 1,7 | 0,0 | 3,0 | 0,0 | na | na | 4,1 | 3,5 | 3,0 | 2,5 | na |
| Change period-on-period | 10,0% | 0,0% | 20,0% | 0,0% | 17,6% | 0,0% | na | 0,0% | na | 0,0% | na | 0,0% | na | na | 18,8% | 15,0% | 20,0% | na | na |
| Reference | |||||||||||||||||||
| * See section "Calculation of key figures and definitions" | |||||||||||||||||||
| ** Cash earnings in 2015 has been adjusted by 115 million due to termination of swap contracts in Q2-2015. | |||||||||||||||||||
| The termination fee was defined as a one-off item and did not reduce cash earnings as a basis for dividend for 2015. | |||||||||||||||||||
| *** Cash earnings definition changed from Q1-16 to also include net income from property management for JVs excluding Oslo S Utvikling. See definitions. | |||||||||||||||||||
| **** In 2016 Entra ASA started with semi-annual payments of dividends. Dividends in 2016 of 3.45 per share constitute of dividend approved and paid in 2016 for the first half year 2016 | |||||||||||||||||||
| and dividend approved for second half of 2016, paid in May 2017. Dividend for 2017 of 4.10 per share constitute dividend of 2.00 per share approved and paid for the first half 2017 and dividend | |||||||||||||||||||
| of 2.10 per share apprioved for the second half of 2017, paid in May 2018. Dividend year to date Q2-18 relates to approved, not yet paid dividend. | |||||||||||||||||||
| Several of the numbers are marked as not applicable ("na") as the figures are not comparable either due to historical changes in the P&L or due to changes in the outstanding shares of Entra ASA. | |||||||||||||||||||
Investor relations
Entra has a sound capital base and a strong cash flow, which provide the foundations for further growth in line with the company's strategy. We will at all times give our owners, potential investors and other market participants simultaneous access to accurate, relevant, complete and consistent information about the company in line with the Oslo Stock Exchange’s applicable IR recommendations.
