Aurora Eiendom Q2 Net Income From Property Management Rises With Growth In Rental Income

(RTTNews) - Norwegian real estate company Aurora Eiendom AS (IL7.F) reported Friday that second-quarter net income from property management amounted to 123 million Norwegian kroner, higher than last year's 120 million kroner.

The pre-tax profit, incorporating fair value adjustments of investment properties and interest rate derivatives, stood at 16 million kroner, down from 20 million kroner a year ago.

Rental income in the quarter was 151 million kroner, higher than 147 million kroner a year ago.

In the first half, net income from property management slightly decreased to 246 million kroner from 247 million kroner a year ago impacted by higher maintenance costs than in 2024.

Year-to-date pre-tax profit significantly decreased to 37 million kroner from 102 million kroner last year, while rental income grew to 301 million kroner from 297 million kroner a year earlier.

Looking ahead, the company said, "We are seeing stable growth in tenant turnover in the first half, combined with a very high occupancy rate, which we consider a clear indication of a robust market and a strong property portfolio.... International trade is marked by uncertainty, tariff barriers, and disruptions in transport and supply chains. Combined with lower global growth and changing trade structures, this could affect the Norwegian economy and the retail sector in general."

Additionally, the company said its application for delisting its shares from Euronext Growth Oslo has been accepted, with the last trading day scheduled for August 25.

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