DJ PATRIMOINE ET COMMERCE: Q1 2024 RESULTS
PATRIMOINE ET COMMERCE PATRIMOINE ET COMMERCE: Q1 2024 RESULTS 12-Apr-2024 / 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 Q1 2024 RESULTS Paris, April 12, 2024 The gross rental income of the real estate portfolio of Patrimoine & Commerce reached 13.1 million of euros for the first three months of 2024, an increase of +8.0% compared to the first three months of 2023. GROSS RENTAL INCOME in millions of euros - 3 months 31/03/24 31/03/23 Var. Var. % Constant Perimeter 12.7 12.1 +0.6 +4.7% Acquisitions 0.2 - +0.2 n/a Disposals 0.0 0.0 (0.0) n/a Properties under restructuring 0.2 - +0.2 n/a Gross rental income 13.1 12.1 +1.0 +8.0%
This increase is mainly explained by:
-- A like-for-like increase of +4.7%, mainly due to the contractual indexation of rents,
-- A positive impact of the delivery of restructuring works (La Ville-du-Bois) and of acquisitions(Saint-Parres-aux-Tertres) carried out during the second quarter of 2023.
Disposals
During the first quarter of 2024, Patrimoine & Commerce completed the disposal of a small commercial gallery in Gaillon (Normandie), for a total consideration of EUR 1.0m, in line with appraisal value.
Outlook
Eric Duval, Founder and Director of Patrimoine & Commerce declared: « The performance of the first quarter of 2024 confirms the solid trend of 2023, with the increase in rents under the effect of indexation and proactive management of our portfolio. We are benefiting from the positive effect of the delivery of the restructuring operation of Ville-du-Bois site, and we will continue to carry out targeted acquisitions and to dispose of non-core assets. We are continuing this approach with the aim of strengthening our position as leading player in low-cost retail parks in France".
Agenda
June 13, 2024 Annual General Meeting
July 24, 2024 First-Half 2024 results
October 11, 2024 Third-Quarter 2024 activity
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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 close to 530,000 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 PRESS - INVESTORS RELATIONS
Eric DUVAL
CYLANS
Managing Director
Tél.: +33 (0)7 88 09 17 29
+33 (0)1 46 99 47 79
patrimoine-commerce@cylans.fr
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Regulatory filing PDF file File: EN_CP Résultats 1T 2024
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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 PAT
Ticker:
AMF Category: Additional regulated information to be pubicly disclosed under the legislation of a Member State / First
quarter financial report
EQS News ID: 1878615
End of Announcement EQS News Service
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1878615 12-Apr-2024 CET/CEST
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(END) Dow Jones Newswires
April 12, 2024 02:00 ET (06:00 GMT)
