DJ PATRIMOINE ET COMMERCE: Q3 2022 RESULTS +7,3% IN GROSS RENTAL INCOME AT EUR35.3M
PATRIMOINE ET COMMERCE PATRIMOINE ET COMMERCE: Q3 2022 RESULTS +7,3% IN GROSS RENTAL INCOME AT EUR35.3M 06-Oct-2022 / 08:00 CET/CEST Dissemination of a French Regulatory News, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE
Q3 2022 RESULTS
+7,3% in gross rental income at EUR35.3m
Paris, October 6, 2022
The gross rental income of the real estate portfolio of Patrimoine & Commerce reached 35.3 million of euros for the first nine months of 2022, an increase of +7.3% compared to 2021:
GROSS RENTAL INCOME in millions of euros - 9 months 30/09/2022 30/09/2021 Var. Var. % Like-for-like Perimeter 32.1 30.8 +1.2 +3.9% Acquisitions 2.7 0.2 +2.5 n/a Disposals 0.3 1.8 (1.5) n/a Properties under restructuring 0.2 0.1 +0.2 n/a Gross rental income 35.3 32.9 +2.4 +7.3%
This increase is mainly explained by:
-- A like-for-like increase of +3.9%, due to the contractual indexation of rents and the decrease in theamortization of Covid-19 rent free periods,
-- A net positive impact of +1.0 million euros on acquisitions and disposals
-- The finalization of the restructuration of an asset in Martinique
Disposals
During the third quarter of 2022, Patrimoine & Commerce completed the disposal of two non-strategic assets, an industrial and office property in Parigné-l'Evêque (Pays de la Loire) and an asset in Bourgoin-Jallieu (Auvergne-Rhône-Alpes), bringing the total amount of disposals since the start of the year to EUR33.0 million, in line with appraisal value.
Outlook
Eric Duval, Founder and Director of Patrimoine & Commerce declared: « Patrimoine & Commerce recorded in the third quarter of 2022 an increase of +7.3% of gross rental income, as a result of proactive portfolio management. We are confident in the fundamentals and the resilience of our business model, and we intend to strengthen our position as the leader in low-cost retail parks in France».
Agenda
February 22, 2023 2022 Full-Year Results
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About Patrimoine & Commerce
Patrimoine & Commerce owns and operates a real estate portfolio, largely comprising retail property, covering a total surface area of more than 500,000 sqm. The assets are mainly located in retail parks near mid-sized towns throughout France. Patrimoine & Commerce benefits from a significant identified deal flow that will enable it to feed its growth, in terms of both assets under development and operating assets.
Patrimoine & Commerce is listed on NYSE Euronext Paris.
ISIN code: FR0011027135 - Mnémo code: PAT
For further information, go to?: www.patrimoine-commerce.com
For information, please contact:
PATRIMOINE & COMMERCE KEIMA Communication
Eric DUVAL
Emmanuel DOVERGNE
Managing Director
+33 (0)1 56 43 44 63
+33 (0)1 46 99 47 79
emmanuel.dovergne@keima.fr
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Regulatory filing PDF file File: Q3 2022 RESULTS +7,3% IN GROSS RENTAL INCOME AT EUR35.3M
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Language: English
Company: PATRIMOINE ET COMMERCE
45 avenue Georges Mandel
75016 PARIS
France
Phone: +33146994762
E-mail: contact@patrimoine-commerce.com
Internet: https://www.patrimoine-commerce.com/
ISIN: FR0011027135
Euronext Ticker: PAT
AMF Category: Inside information / News release on accounts, results
EQS News ID: 1456627
End of Announcement EQS News Service
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1456627 06-Oct-2022 CET/CEST
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(END) Dow Jones Newswires
October 06, 2022 02:00 ET (06:00 GMT)
