Press release
On 02/11/2022
Despite the economic context, SELECTIRENTE confirms robust operational performance since the beginning of the year:
Rents up by +28.5% compared to the same period last year (and by 3.8% at constant scope)
An average financial occupancy rate of 96.0% over the last twelve months (compared to 95.1% over the year 2021)
Third quarter activity
SELECTIRENTE’s turnover amounted to €20.7 million at September 30, 2022, up +28.1% compared to the same period of the last financial year.
Rents alone increased by +28.5%
compared to the same period in 2021, in particular due to the acquisitions made in 2021 and in the first two quarters of 2022. At constant scope, rents increased by +3.8% compared to rents for the first three quarters of 2021.
In thousands of euros | Total as of 09/30/2022 | Total as of 09/30/2021 | Variation |
Rents | 20,532 | 15,972 | + 28.5% |
Other income | 193 | 212 | – 8.8% |
Turnover | 20,725 | 16,184 | +28.1% |
-
Additional rental products
The financial occupancy rate remains high and up to 96.0%
on average over the last twelve months, compared to an average of 95.1% over the year 2021. Under the only 3
e
quarter of 2022, the financial occupancy rate stands at 96.3%. In addition, the vacancy rate under EPRA standards in the third quarter of 2022 stands at nearly 1.8%.
Investment made during the third quarter
After an investment volume of €105.9 million recorded in the first half, the Company acquired during this quarter the acquisition of a restaurant located Rue Jarente in Paris (4
e
) for an amount of €0.6 million.
Arbitrations of the quarter
During the third quarter, the Company continued its strategy of refocusing its portfolio and with this in mind sold five assets: 2 apartments located in Paris (18
e
) and in Lyon (69) and 3 shops located in Douai (59), Orléans (45) and Puygouzon (81) for a total net selling price of €3.7 million. Since the beginning of the financial year, Selectirente has arbitrated 11 assets for a total net selling price of €5.8 million, materializing an average premium on the independent appraisal values at the end of 2021 of around 10%.
Highlight of the quarter
SELECTIRENTE was awarded a BPR Gold Award by the EPRA (European Association of Listed Real Estate Companies) on September 7, the highest level of distinction established by the Association in terms of financial and extra-financial information. This award demonstrates the excellence of the practices established by the Company in this area, and the quality of its communication with shareholders and investors.
Outlook
Since 1
er
October 2022, the Company sold the businesses in Vannes (56) and Namur (Belgium) for an overall sale price of €4.2 million. SELECTIRENTE is also committed to asset disposals in Lille (59) and Corbeille-Essonne (91) for a total amount of €0.9 million.
Despite the macroeconomic and geopolitical disturbances which will probably continue to impact economic activity in the coming months and therefore weigh on the concerns of the financial markets, the Company, which is committed to
create long-term value
will maintain dynamic and responsible rental management, while strengthening its presence in major French cities, in Paris and the Paris region.
About SELECTIRENTE
Created in 1997 on the initiative of SOFIDY and real estate professionals, SELECTIRENTE was floated on the stock market in October 2006 and adopted SIIC status on 1
er
January 2007. SELECTIRENTE is positioned as one of the rare real estate companies specializing in property for local shops.
SELECTIRENTE is managed by SELECTIRENTE GESTION, new manager and general partner since February 3, 2021, which itself relies on the know-how and skills of the service provider SOFIDY (a company that is part of the real estate activities of the Tikehau Capital group) in asset management, property management and execution of investment, arbitrage and financing programs.
With a property portfolio of more than €600 million, nearly 58% of which is located in inner Paris, the Company’s strategic goal is to develop and enhance its city center commercial assets in the French and European cities more dynamic.
contacts
Dany ABI AZAR
– Administrative and Financial Director Selectirente Gestion – +33 (0)1 69 87 02 00 – [email protected]
Aliénor KUENTZ
– SHAN communication agency – +33 (0)1 42 86 82 45 – [email protected]
2023 financial calendar:
02/15/2023:
2022 annual results
This post has the “? Actusnews SECURITY MASTER” service.
– SECURITY MASTER Key:
yp2cZ8dmZm6dyZqaZphpmWaYmW+VlmbFaJbKl2WaZZfFb2xol2dnmZTIZnBnnm5r
– To check this key:
https://www.security-master-key.com.
Regulated information:
Quarterly financial information:
– Third quarter financial information
Full and original press release in PDF format:
https://www.actusnews.com/news/76995-selectirente-chiffre-d_affaires-et-activite-t3-2022_communique-final.pdf
© Copyright Actusnews Wire
Receive the company’s next press releases free of charge by email by subscribing to www.actusnews.com