(CercleFinance.com) – Société Foncière Lyonnaise reported higher results for the 2021 financial year on Monday, attesting to the strong resilience of its office assets despite the context of the health crisis.
The property company, now majority-owned by the Spanish Colonial, generated consolidated net income group share of 292 million euros last year, compared to 286.9 million euros at December 31, 2020.
While its rental income amounted to 174.6 million euros, compared to 182.4 million in 2020, i.e. a decline of 4.3%, they increased significantly (+3%) on a like-for-like basis, i.e. excluding all changes in scope impacting the two years compared.
Operating income (restated for income from disposals and asset valuation) amounted to €134.2 million in 2021, compared to €152.6 million in 2020.
The valuation as of December 31, 2021 of the company’s assets according to an expert opinion was up 5.7% at constant scope compared to the valuation of December 31, 2020.
As of December 31, 2021, EPRA NTA revalued net assets rose by 5.1% to 107.9 per share, a sign – according to SFL – of the quality of its asset portfolio.
Its board of directors has also decided to propose to the next general meeting, which will be held on April 7, a dividend of 4.20 euros per share.
Listed on the Paris Stock Exchange, SFL shares were down 0.2% late Monday morning.
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