• Revenues for the third quarter were MNOK 276, increasing from MNOK 258 in the same quarter last year.
• Operating profit before value adjustments was MNOK 231 for the third quarter, which corresponds to NOK 0.36 per share.
• Profit before income tax and value adjustments was MNOK 118 for the third quarter, corresponding to NOK 0.18 per share for the quarter.
• Negative fair-value adjustments for the properties of NOK 1,486 million (-6 %) and positive changes for the derivatives of NOK 8 million.
• The net loss was NOK 1,105 million for the third quarter which corresponds to an earnings per share (EPS) of NOK -1.72.
• The net amount of rent for all new, renegotiated and terminated rental contracts amounted to NOK 15 million.
• EPRA NRV (Long-term net reinstatement value) is NOK 20.60 per share.

Bent Oustad, CEO, says about the quarter:

"Once again, we have seen a quarter with high activity in the letting of our properties, and it is pleasing that the company has signed new rental agreements in all our three core areas. Turnover in the retail areas was strong, and interest has been shown in renting all our available premises. The company’s underlying operations are good.

The external appraisers have increased the yields on our portfolio considerably, which results in a considerable write-down of the property values in the quarter. The exit yield is now weighted at 5.2% for our entire property portfolio.

We are in advanced discussions with our relationship banks regarding the refinancing of 2024 bond maturities. Meanwhile, we see an increasing number of transactions related to real estate in the Nordic bond market."

For further information, please contact:
Bent Oustad, CEO, mob: +47 4801 6082, e-mail: bo@npro.no
Haavard Rønning, CFO, mob. +47 400 200 19, e-mail: hr@npro.no

This information is subject of the disclosure requirements according to §5-12 of the Norwegian Securities Trading Act (’Verdipapirhandelloven’).