Entra Asa (ENTOF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to ENFRA's fourth quarter presentation brought to you here from Oslo. Let me start by enlightening you on what you can see on this picture. This is Kristian Krogsgate 2 in Oslo, our planned redevelopment project, which we in the quarter announced that we have entered into a partnership with Skanska to develop. So, moving on to the highlights. Rental income of 787 million in the quarter. That is 20 million up compared to same quarter last year, meaning also that the effects from previous divestments have been offset by an increase through projects feeding into the management portfolio. Net income from property management of 425 million in the quarter, that is up with 108 million compared to same quarter last year, mainly explained by the completion and divestment of our project in Trondheim. The net value changes in the quarter were 56 million, and in that we have also included the positive value uplifts on the investment properties of 111 million. Profit before tax of 476 million in the quarter and our EPRA NRV is up with 2 kroner per share to 169 in the fourth quarter. We've had a good quarter in respect of operations with a positive net letting of 4 million. And we have also completed three projects this quarter. One new build project in Trondheim, which also has been forward sale. So upon closing of that transaction, we have taken a gain of 101 million in the fourth quarter. And our board has decided to propose a dividend of 1 krona and 10 øre per share for the second half of 2025. And this will be then decided at the annual General Assembly on April 21st. In addition to that, the board has also decided to initiate a share buyback program of up to 0.5% of the company's shares based on the gains realized on the Trondheim transaction. Moving on to operations...