Bane NOR Eiendom reports stable income, increased EBITDA for second tertial

Bane NOR Eiendom AS announced stable rental income for the second tertial of 2025, with a modest increase of just under 1% compared to the previous year. Year-to-date EBITDA significantly improved, reaching MNOK 560, up from MNOK 476 in the same period last year. The result before tax for the second tertial was negative MNOK 67, a considerable improvement from negative MNOK 170 in the prior year, primarily driven by increased sales gains and contributions from jointly controlled entities.

The company maintains a high level of investment in its development projects, as well as its investment portfolio for train workshops. Total investments year-to-date amounted to MNOK 1,448, an increase from MNOK 1,129 in the same period last year. The loan-to-value (LTV) ratio stood at 42.4% as of August, up from 39.9% in the comparable period.

Key operational highlights include Ugland Eiendom becoming a new partner in Skien Brygge Utvikling and the start of construction for Professor Smiths Hage (Trinn 3) in Drammen with 43 new residential units. A lease agreement was signed with Drammen kommune for a new emergency ward/health centre in Drammen Helsepark. The detailed regulation for Oslo S has been proposed for public hearing, potentially enabling a significant redevelopment.