NPRO: 3Q 2021 – High activity in the rental market
The net profit for the third quarter was NOK 326.1 million after positive fair-value adjustments for investment properties of NOK 326.6 million. This resulted in third quarter earnings per share (EPS) of NOK 0.51. The book value of equity per share as of 30 September 2021 was NOK 18.93.
The rental income amounted to NOK 229.4 million for the third quarter, up from NOK 175.8 million in the corresponding period of 2020.
The board has resolved to pay NOK 0.125 per share as dividend for Q3-2021.
The company was active in the Norwegian bond market in third quarter, with new issues amounting to NOK 1 047 million, and buy-backs of NOK 411 million.
CEO Bent Oustad says about the quarter; “As I informed about at the previous quarterly presentation, we already saw traces of what has become a third quarter with high activity in the rental market. In CBD, our team has rented out the vacant office space at Aker Brygge and the last retail space in Lille Grensen 7. In Nydalen, leases have been signed for a significant area in Sandakerveien 140. In summary, we experience very good demand for premises in all our core areas. During the quarter, our share was delisted from the Euronext Oslo Stock Exchange. Most of our bonds, on the other hand, are still listed on the stock exchange. Norwegian Property ASA will therefore continue with quarterly reporting to give various stakeholders insight into the development of the company.”
For additional information, please contact:
Bent Oustad, CEO, tel. +47 4801 6082, e-mail: bo@npro.no
Haavard Rønning, CFO, tel. +47 400 200 19, e-mail: hr@npro.no
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.
www.npro.no