Entra Asa (ENTOF) Q2 2026 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.233 Good morning all and welcome to Entra's second quarter presentation here in Oslo. 00:00:05.233 -- 00:00:10.374 On the front page here you can see our building in Sveikorskatte 16 where we 00:00:10.374 -- 00:00:15.616 in the quarter signed a 12-year lease contract for the entire building 00:00:15.616 -- 00:00:17.860 with Co-op. 00:00:17.860 -- 00:00:20.523 Let's move on to some highlights. 00:00:20.523 -- 00:00:24.949 Rent income of 781 million in the quarter, that is 2.4% down from last quarter, or 1.4% 00:00:24.949 -- 00:00:27.930 up from same quarter last year. 00:00:36.644 -- 00:00:41.850 Net income from property management of 320 million this quarter, which 00:00:41.850 -- 00:00:47.036 is down 37 million compared to last quarter due to lower 00:00:47.036 -- 00:00:52.463 rental incomes and higher operating and financial costs. 00:00:52.463 -- 00:00:56.604 Net value changes came in with a negative of 1.2 00:00:56.604 -- 00:01:01.706 billion this quarter, mainly driven by the negative value 00:01:01.706 -- 00:01:07.028 changes on our investment properties of 1.1 00:01:07.028 -- 00:01:08.628 billion, 00:01:08.628 -- 00:01:13.389 leaving us then with a loss before tax of 855 00:01:14.970 -- 00:01:20.792 million in the quarter. Sorry, that's loss after tax. 00:01:21.135 -- 00:01:26.161 The NRA per share this quarter stands at 163.3 and cash earnings per share 00:01:26.161 -- 00:01:30.343 of 3.54 for the first half of this year. 00:01:34.873 -- 00:01:40.001 It's been a strong quarter in respect of letting, with a positive net 00:01:40.001 -- 00:01:45.088 letting of 131 million in the quarter, and we 00:01:45.088 -- 00:01:51.414 have started up one refurbishment project in Oslo and one in Bergen. 00:01:51.685 -- 00:01:55.426 So, if we ...