(AOF) – Altarea exceeded its 2021 objectives. The property developer generated net recurring income (FFO) group share up 14.8% to 264.4 million euros. He was aiming for 10% growth. Based on the number of shares, it increased by 9.3% to 14.35 euros. Altarea’s turnover amounted to 3.03 billion euros, almost stable over one year. A dividend of 9.75 euros per share will be proposed to the General Meeting of May 24, 2022, for the 2021 financial year, an increase of 2.6%.
An option of partial conversion of the dividend into shares will also be offered to shareholders. They may opt either for a 100% payment in cash, or for a payment in securities up to 50% and a payment in cash up to 50%.
“All in all, with the integration of Primonial from its acquisition date, the Group expects a significant increase in its FFO, Group share 2022, despite the rapid rise in tax on its taxable activities. The level of the increase per share will be communicated on the occasion of the half-year results, integrating Primonial for the first time” declared its founding president, Alain Taravella.
Before adding: “The Group reiterates its ambition for growth by 2025 of reaching a fully diluted FFO/share of between 18 and 20 euros. This perspective will be developed during an Investor Day scheduled for the fall where Altarea will present its new operational organization and its new growth model”.
Diluted continuing revalued net assets, which measure the value of its assets, were almost stable (+0.6% to 157.4 euros per share) after taking into account the dilutive impact of the capital increases that led to a dilution of 1.9 euros per share.
AOF – LEARN MORE