Entra ASA

ENTRA

Equity

ISIN NO0010716418 / Valor 25642752

Oslo Stock Exchange (2026-05-04)

NOK 104.20-0.95%

Entra ASA
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About company

Entra ASA is a prominent Norwegian real estate company specializing in the ownership, management, and development of office buildings. With a portfolio valued at approximately 69.5 billion NOK, the company oversees around 1.6 million square meters across 99 properties, boasting a high occupancy rate of 95.3%. Entra is recognized for its strategic focus on situating office clusters around central transportation hubs, thereby enhancing urban development and providing value to both its clients and the broader community. The company's commitment to future-oriented workplace environments reflects its ambition to lead in the creation of innovative and sustainable office solutions. While Entra aims to achieve net climate neutrality by 2030, its business operations fundamentally revolve around real estate development and management, with a keen eye on evolving office space dynamics and city development.

Summarized from source with an LLMView SourceSector: Finance

Key financials

Rental income Q4: NOK 787m (Q4‑24: 767m). Net operating income: NOK 707m. Net income from property management: NOK 425m (up 34% YoY). Profit before tax Q4: NOK 476m. Net value changes: NOK 56m. EPRA NRV per share: NOK 169 (up 5% YoY).

Balance sheet & leverage

Market value of property portfolio: NOK 61,991m. Net nominal interest‑bearing debt: NOK 30,887m. Effective leverage (LTV): 48.0%; EPRA LTV: 51.6%. Interest coverage ratio (LTM): 2.14x. Average time to maturity of debt: 3.6 years.

Cash flow & liquidity

Net cash from operating activities in Q4: NOK 366m. Q4 net cash flows from investing were NOK 543m (mainly proceeds from property transactions including the sale of Holtermanns veg 1‑13). Net cash from financing was -NOK 940m (including dividend payments and debt movements). Unutilised credit facilities: NOK 7,655m.

Capital allocation

Board proposes H2 2025 cash dividend NOK 1.10 per share (bringing 2025 distributions to NOK 2.20 per share including H1). Revised dividend policy: at least 30% of Cash Earnings in semi‑annual capital distributions. Share buy‑back programme initiated (up to 0.5% of shares) to be included in 2025 capital distribution.

Portfolio operations & developments

Occupancy in management portfolio: 93.8% (down slightly YoY). Net letting in Q4: +NOK 4m (gross new/renegotiated NOK 183m; terminated NOK 80m). Sale and gain on completed Holtermanns veg 1‑13: NOK 101m gain. Two refurbishment projects finalised; joint venture established with Skanska for redevelopment of Christian Krohgs gate 2.

Outlook & strategy

Entra reiterates focus on high‑quality offices in transit‑connected urban clusters, disciplined capital allocation and project pipeline. Management expects continued market rental growth supported by CPI indexing (3.0% applied from 1 Jan 2026) and an attractive project pipeline while targeting an over‑the‑cycle ROE of at least 10%.

ESG and sustainability

EPRA NRV growth and continued green financing: 70% of financing classified as green. Energy consumption in the management portfolio improved year‑on‑year (116 kWh/sqm LTM) and Entra maintains validated SBTi targets toward net‑zero by 2050 for the building sector.

Summarized from source with an LLMView Source

Key figures

-13.2%1Y

-0.38%3Y

-46.3%5Y

Performance

17.7%1Y

26.5%3Y

30.8%5Y

Volatility