Entra Asa (ENTOF) Q2 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.233 -- 00:00:04.400 Good morning and welcome to Entra's second quarter presentation. 00:00:04.400 -- 00:00:07.865 Moving right on to the highlights. 00:00:07.865 -- 00:00:10.229 Rental income of 770 00:00:10.229 -- 00:00:15.277 million this quarter, that is 83 million below same 00:00:15.277 -- 00:00:19.403 quarter last year, mainly due to divestments. 00:00:19.403 -- 00:00:22.890 Net income from property management of 352 00:00:22.890 -- 00:00:27.899 million this quarter compared to 348 same quarter last 00:00:27.899 -- 00:00:32.929 year. And net income from property management is then 10% 00:00:32.929 -- 00:00:38.810 up compared to same quarter, sorry, last quarter, first quarter. 00:00:38.810 -- 00:00:42.954 Net value changes of 191 00:00:42.998 -- 00:00:48.188 million in the quarter and value increases on our investment properties of 00:00:48.188 -- 00:00:50.188 289 00:00:50.212 -- 00:00:56.942 million, leaving us then with a profit before tax of 534 00:00:57.006 -- 00:01:02.474 million. We were also pleased to see then that our 00:01:02.474 -- 00:01:06.140 EPRA NRV increased to 166 00:01:06.140 -- 00:01:11.688 up with three kroners in the quarter. And we have had very strong 00:01:11.688 -- 00:01:17.096 letting activity with net letting coming out at 22 million, 00:01:17.096 -- 00:01:21.622 increasing also our occupancy rate then to 94.6% 00:01:21.622 -- 00:01:23.622 in 00:01:23.926 -- 00:01:25.672 the quarter. 00:01:25.672 -- 00:01:27.672 Our 00:01:27.798 -- 00:01:33.174 climate targets have now also been validated by the science space 00:01:33.174 -- 00:01:38.671 targets initiative under the building sector framework as the first Norwegian 00:01:38.671 -- 00:01:40.671 company. 00:01:42.563 -- 00:01:48.072 So moving on to operations, as I said, ...