Covivio: sales target raised by 2024 – 12/06/2022 at 12:14 pm


(CercleFinance.com) – Covivio on Tuesday, on the occasion of its Capital Markets Day in Berlin, raised its disposal target, which it now sets at 1.5 billion euros by the end of 2024.

The real estate group indicates that it has already signed, in recent weeks, the equivalent of 154 million euros in new firm agreements for disposals.

Since the beginning of the year, the total of disposal agreements thus totals 441 million euros, an amount to which is added 300 million euros under discussion.

This sales plan should enable it to continue to improve the quality of the portfolio, in particular by conducting more limited investments, centered on ‘prime’ and value-creating assets.

Covivio also reports the resilience of its asset values ​​in the second half, as well as well-oriented operating performance (+14% revenue growth at constant scope at the end of September), which it believes should continue in 2023.

The Covivio share rose by 0.6% on Tuesday morning, bringing the group’s market capitalization to nearly 5.4 billion euros.



Source link -86