PATRIMOINE ET COMMERCE: Q3 2023 RESULTS +6,1% IN GROSS RENTAL INCOME AT €37.4M

PRESS RELEASE

Q3 2023 RESULTS

+6,1% in gross rental income at €37.4m

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:

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 the amortization of Covid-19 rent free periods,
• The full year contribution of the restructuration of an asset in Martinique, delivered in 2022, and the delivery 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 

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