(Boursier.com) — In the first half of 2023, Foncière Volta saw its rental income increase by +5.5%, to 3.7 million euros.
The change in value of the assets, excluding the valuation of the works, amounts to -1.6 ME taking into account the evolution of market values. It brings operating profit to -0.9 ME.
Net profit, Group share, came to -4.1 ME in the 1st half. It notably includes the cost of financial debt (-2 ME) and an additional financial charge of -1.3 ME linked to the depreciation of a minority stake.
The Liquidation Revalued Net Assets stand at 11.88 euros per share (12.32 euros per share at the end of 2022), after taking into account the half-year result. After taking into account the new loans taken out to finance investments, the debt amounts to 60.4 ME (54.8 ME at the end of 2022). Thus, the LTV ratio stands at 50.3% at the end of June 2023 (46.2% at the end of 2022).
Outlook
In September 2023, the Group drew down the balance of its financing line intended for overseas territories.
After the investment in its sites in Guadeloupe, several Parisian assets could be affected by significant future work. In this context, the Group continues to work to improve the performance of its assets and is working in particular on its debt following changes in rates in order to continue to control its financial burden.
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