PARIS (dpa-AFX) - Covivio SA (COV.PA) on Wednesday reported nine-month revenues of 533.0 million euros, up 4.8% compared to 508.8 million euros last year. On a like-for-like basis, revenues rose 3.5%.
The company said the strengthening of the hotel business over the last 18 months, the acquisition of the minority stake in CB21, and the positive operating performance across the three asset classes more than offset the impact of disposals, mainly in offices.
In the office sector, rents rose by 3.5%, with the effect of disposals and departures for redevelopment more than offset by like-for-like growth of 3.6%.
In German residential, like-for-like rental growth accelerated compared with 2024, rising to 4.8%, supported by indexation, modernization work, and re-lettings.
In the hotel business, revenue growth slowed over nine months to 1.5% due to highly unfavorable base effects.
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