(Boursier.com) — The consolidated results of Bleecker for the financial year ending August 31, 2023 show a net loss of -26.01 million euros (-5.17 ME a year earlier).
Net cash as of August 31 amounts to €6.35 million (E397 million for the previous financial year).
The financial year ending August 31, 2023 is marked by a deterioration in the economic context. This situation constitutes a source of risks and uncertainties whose economic (direct and indirect), financial (inflation and rise in interest rates), social and environmental consequences could have significant negative impacts on all economic players. These elements had an impact on the valuation of the assets, although moderate, taking into account the positioning of the assets and the quality of the tenants; and on the cost of debt, limited thanks in particular to fixed rate refinancing. The Bleecker Group remains attentive to macroeconomic developments.
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 assets mainly in Paris 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. As part of its policy of arbitrage of mature or non-strategic assets, SA Bleecker also signed, on September 19, a promise of sale relating to the asset it holds in HEM (59510) in return for price of 2.4 ME.
Bleecker is also continuing to consolidate its debt by seizing bank financing opportunities with a view in particular to refinancing and securing existing debt. The group also remains likely to continue its arbitrage of mature or non-strategic assets, in order to invest in new real estate projects, offering attractive profitability and/or having a potential for revaluation in the medium or long term.
Bleecker remains confident in the continuation of its strategy.
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