DJ PATRIMOINE ET COMMERCE: Q3 2023 RESULTS +6,1% IN GROSS RENTAL INCOME AT EUR37.4M
PATRIMOINE ET COMMERCE PATRIMOINE ET COMMERCE: Q3 2023 RESULTS +6,1% IN GROSS RENTAL INCOME AT EUR37.4M 11-Oct-2023 / 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. =---------------------------------------------------------------------------------------------------------------------- PRESS RELEASE Q3 2023 RESULTS +6,1% in gross rental income at EUR37.4m Paris, October 11, 2023 The gross rental income of the real estate portfolio of Patrimoine & Commerce reached 37.4 million of euros for the first nine months of 2023, an increase of +6.1% compared to 2022: GROSS RENTAL INCOME in millions of euros - 9 months 30/09/2023 30/09/2022 Var. Var. % Like-for-like Perimeter 33.1 31.8 +1.3 +4.2% Acquisitions 3.1 1.9 +1.2 n/a Disposals - 1.4 (1.4) n/a Properties under restructuring 1.2 0.2 +1.0 n/a Gross rental income 37.4 35.3 +2.1 +6.1%
This increase is mainly explained by:
-- A like-for-like increase of +4.2%, due to the contractual indexation of rents and the decrease in theamortization of Covid-19 rent free periods,
-- The full year contribution of the restructuration of an asset in Martinique, delivered in 2022, and thedelivery of the restructuring works of the shopping mall of Ville-du-Bois in 2023
-- A net negative impact of -0.2 million euros on acquisitions and disposals
Outlook
Eric Duval, Founder and Director of Patrimoine & Commerce declared: « Patrimoine & Commerce recorded in the third quarter of 2023 an increase of +6.1% of gross rental income, as a result of dynamic 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, 2024 2023 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 528,000 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 2023 RESULTS +6,1% IN GROSS RENTAL INCOME AT EUR37.4M
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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: 1745719
End of Announcement EQS News Service
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1745719 11-Oct-2023 CET/CEST
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(END) Dow Jones Newswires
October 11, 2023 02:00 ET (06:00 GMT)
