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Report for the 1st quarter of 2025

The Group had a satisfactory development in the first quarter, with profit before income tax amounting to NOK 1 004 million (814 million in the same period last year).

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Highlights of the report for Q1 20251:

  • The Group had a satisfactory development in the first quarter, with profit before income tax amounting to NOK 1 004 (814) million.
  • The Group’s rental income in the first quarter amounted to NOK 1 009 (958) million.
  • Fair value adjustments of investment properties amounted to NOK 442 (63) million, and fair value adjustments of interest rate derivatives totalled NOK 18 (233) million in the quarter.
  • Profit before tax, fair value adjustments and currency result amounted to NOK 598 (562) million in the quarter.
  • The Group’s financial position is solid. By the end of the quarter the Group’s equity ratio increased to 52 % (51 %), while its liquidity reserves was NOK 10 067 (7 458) million.
  • Retail sales in the shopping center portfolio in the first quarter were NOK 13 402 (13 198) million, an increase of 2 % compared to the same quarter last year.

1The figures in brackets are for the corresponding period/date last year.

Forsidebilde av OTE rapport for 1. kvartal 2025