(AOF) – Immobilière Dassault posted a group share net loss of 26.1 million euros in 2023 compared to a profit of 43.84 million euros in 2022. The group’s accounts were impacted “by the unfavorable adjustment values of real estate assets (-43.5 million), due to pressure on the capitalization rates used by appraisers and whose effect on the value of assets nevertheless remains moderate (-3%) compared to the current market. general”. Current operating profit, on the other hand, increased by 29% to 28.2 million euros.
Rental income is up 7.6% in 2023 to 27.6 million euros. On a like-for-like basis, they increased by 8.3%.
Current cash flow increased by 23.5%, to 22.4 million euros.
The real estate company published an adjusted NAV (net asset value) per share of 85.3 euros compared to 91.8 euros at the end of 2022, and cites “the downward adjustment in the value of investment properties”.
The company will propose a dividend of 2.01 euros per share, entirely in cash.
After a year 2023 marked by the finalization of the majority of renovation work, Immobilière Dassault declares that it “intends to pursue an investment policy in line with its strategy of acquiring office and retail assets in the best Parisian addresses “, while maintaining “great selectivity due to the decompression of yield rates”.
As of December 31, 2023, Immobilière Dassault’s equity reflects the revalued net assets (NAV) to the extent that all investment properties are recorded at “market value” on the balance sheet and amount, as a group share, to 583.4 million euros compared to 621.9 million as of December 31, 2022.
The Loan-To-Value ratio, which corresponds to the debt rate, stands at 27.82% of the value of the assets (taxes included), compared to 25.32% as of December 31, 2022, remaining well below the limit. of the 50% that Immobilière Dassault is committed to respecting.
The net financial debt stands at 252.7 million euros as of December 31, 2023, denominated at 85.14% fixed rate or covered by swaps.
Immobilière Dassault will also pursue a “dynamic” asset management strategy in order to continue to generate value in the medium and long term and to “maintain the return on its assets at the best level”.
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