PARIS (Agefi-Dow Jones)–The listed property company Covivio confirmed its annual forecast on Thursday after a sharp increase in its rental income over nine months, driven by the continued rebound in rental demand on the office market and by the revaluation residential rents in Germany.
MAIN POINTS OF THE PRESS RELEASE:
– Group share revenue of 470.9 million euros for the period from January to September, representing record growth of 13.9% on a like-for-like basis.
-Offices: acceleration of like-for-like growth, at +4.5%, driven by indexation and rentals.
-Residential in Germany: +3% at constant scope and occupancy rate of 99%.
-Hotels: +85.3% on a like-for-like basis, supported by the rebound in variable revenue and asset management work. Occupancy rate of 96.2%.
-Reinforcement of liabilities: 100% of the bonds issued by Covivio are now green. 550 million euros in financing signed in the third quarter and 287 million euros in disposal commitments at the end of September, 1.7% above the appraisal values.
-Covivio confirms the 2022 recurring net income target (EPRA Earnings adjusted) of around 4.5 euros per share, an increase of more than 3% compared to 2021.
-Agefi-Dow Jones; +33 (0)1 41 27 48 11; [email protected] ed: LBO
Dow Jones Newswires
October 20, 2022 12:40 ET (16:40 GMT)