NPRO: 2Q 2021 – Increased rental income and acquisition of Felix conference centre at Aker Brygge

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Norwegian Property presents the results for Q2-2021 on 9th July at 08:30. Due to infection control it will only be possible to follow the presentation in Norwegian on the webcast:

The net profit for the second quarter was NOK 175.8 million. This resulted in second-quarter earnings per share (EPS) of NOK 0.27. The book value of equity per share as at 30 June 2021 was NOK 18.53.

The rental income amounted to NOK 228.6 million for the second quarter, up from NOK 172 million in the corresponding period of 2020. A considerable part of the increase is due to the acquisition of the Snarøyveien 30 property. Net new leases for the quarter was NOK 31.3 million.

The board has resolved to pay NOK 0.10 per share as dividend for Q2-2021.

Norwegian Property has bought the Felix property at Aker Brygge in Oslo. The acquisition is in line with Norwegian Property’s ambitions to grow in its core areas. The property is located on the lower floors of the Fondbygget building. After the purchase, Norwegian Property owns all the business units in the building. The agreed gross value for the property was NOK 172 million, and the closing of the transaction was completed on 31 May.

The company's first green bond was issued in May. The loan was NOK 650 million, with a fixed interest rate of 2.235% for 5 years.

CEO Bent Oustad says; “Towards the end of the second quarter, we see that easing the restrictions increases activity. During the quarter we have had very good demand for premises in our core markets. Our property values have grown approximately 8 billion the last 12 months, without a corresponding increase in costs. We are pleased to experience that the scalability in our business model works as intended, and that the entire organization has a good cost control even in a time of substantial growth. We are also pleased to have issued our first green loan on good terms. It makes an important contribution to us achieving the goals of our sustainability strategy”.

For additional information, please contact:

Bent Oustad, CEO, tel. +47 4801 6082, e-mail:

Haavard Rønning, CFO, tel. +47 400 200 19, e-mail:

Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12

Norwegian Property is a focused and fully integrated office property company with properties located mainly in the Oslo area in Norway. The portfolio is characterized by central location and attractive premises with high quality tenants. The group’s properties consist largely of office premises, associated warehousing and car parking, as well as retail and catering space. The company has identified four value drivers for long-term value creation; Marketing & letting, Property management, Property development and Transactions & finance.

Norwegian Property is listed on Oslo Stock Exchange with the ticker NPRO.