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Report for the 4th quarter and preliminary results of 2024

The Group had a satisfactory development in the fourth quarter, with profit before income tax amounting to NOK 1 262 million (-1 821 million in the same period last year).

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Highlights of the report for Q4 20241:

  • The Group had a satisfactory development in the fourth quarter, with profit before income tax amounting to NOK 1 262 (-1 821) million.
  • The Group’s rental income in the fourth quarter amounted to NOK 958 (949) million.
  • Fair value adjustments of investment properties amounted to NOK 504 (-1 916) million, and fair value adjustments of interest rate derivatives totalled NOK 189 (-309) million in the quarter.
  • Profit before tax, fair value adjustments and currency result amounted to NOK 526 (534) million in the quarter.
  • The Group’s financial position is solid. By the year-end the Group’s equity ratio was 51 % (50 %), while its liquidity reserves was NOK 6 561 (5 382) million.
  • Retail sales in the shopping center portfolio in the fourth quarter were NOK 18 712 (18 294) million, an increase of 2 % compared to the same quarter last year.
  • The Board proposes a dividend of NOK 7,25 per share (7,00) to be paid for 2024.

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

Forsidebilde til den engelske utgaven av OTE rapport for 4. kvartal 2024.