(Boursier.com) — Bleecker communicates a net result of -20.27 ME Group share as of February 29, 2024 (-8.28 ME as of February 28, 2023). This half-year loss is mainly explained by the variation in the fair value of buildings reclassified as assets held for sale and the increase in financial charges.
Investment properties amount to 577.14 ME as of February 29, 2024 (711.28 ME as of February 28, 2023).
The consolidated balance sheet total amounts to 717.81 ME as of February 29, 2024 (738.95 ME as of February 28, 2023). Consolidated shareholders’ equity, Group share, was €280.33 million as of February 29 (€318.33 million as of February 28, 2023).
Net cash as of February 29, 2024 amounts to €766 thousand (E784 thousand as of February 28, 2023).
Outlook
Bleecker is adapting its investment policy in Parisian office buildings as well as recent business parks and premises in Ile de France taking into account the macroeconomic and international situation. Nevertheless, with a portfolio of essentially Parisian and restructured assets benefiting from a high occupancy rate, Bleecker remains attentive to the opportunities offered by the market concerning very good quality secure assets, recent business premises , strategically located and presenting synergy with the assets already acquired by the Group; as well as those presenting strong value creation.
Bleecker is also continuing its strategy of enhancing its heritage assets and is also continuing to consolidate its debt by seizing bank financing opportunities. Bleecker thus intends to refinance and secure its debt by using, where appropriate, interest rate hedging products. Bleecker also remains likely to continue its arbitrage of mature or non-strategic assets, in order to invest in new real estate projects.
Bleecker remains confident in the continuation of its strategy. Given the economic context generated by the macroeconomic and international situation, Bleecker reserves the right to study other investment theses.
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