• The operating profit before value adjustments reached MNOK 297, which is an increase from MNOK 280 in the third quarter of the previous year
• Revenue in third quarter amounted to MNOK 353 compared to MNOK 361 for the same quarter last year.
• The operating profit before tax and value adjustments reached MNOK 115 for the third quarter, an increase from MNOK 88 in the same quarter last year
• The profit for the period was MNOK 386 compared to MNOK 177 for the corresponding period last year. Earnings per share (EPS) was NOK 0.58
• Positive fair-value adjustment of MNOK 360 (1.3 per cent)
• EPRA NRV (Long-term net reinstatement value) was NOK 21.94 per share
• Credit rating confirmed by Scope: Unchanged

Bent Oustad, CEO, says about the quarter:

“Our quarterly results confirm what we have communicated earlier about strong operations and cost control. Third quarter costs are down over 10% year-on-year and there has been a slight decrease for the first nine months.

Our team has once again achieved a positive net lease of MNOK 2. We have obtained a 10 percent increase in the rent for renegotiated contracts. Notably, we are proud to welcome Kongsberg Digital to Fornebu and Martin Linges vei 33. As another major company has chosen Fornebu as its new location, this confirms that we are on our way to realizing our vision to create engaging meeting places in our core geographic areas. Fornebu is developing fast with a broad range of companies, high security, schools and diversified activities across our properties through the Synergy concept. Everything is done with the purpose of facilitating convenience and safety for companies and the local community. Our properties at Fornebu have many good qualities and we are pleased to notice that demand for the properties and the area is increasing.

During the quarter Scope have made their annual update of the credit rating and confirmed NPRO’s existing rating of BBB- / negative. We deeply appreciate continuous support from our owners, with long-term investment horizons and the wish to develop the company.”

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 to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.