PATRIMOINE ET COMMERCE: Q3 2023 RESULTS +6,1% IN GROSS RENTAL INCOME AT €37.4M
PATRIMOINE ET COMMERCE
PATRIMOINE ET COMMERCE: Q3 2023 RESULTS +6,1% IN GROSS RENTAL INCOME AT €37.4M
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 €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:
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 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
For information, please contact:
PATRIMOINE COMMERCE
KEIMA Communication
Eric DUVAL
Managing Director
+33 (0)1 46 99 47 79
Emmanuel DOVERGNE
+33 (0)1 56 43 44 63
File: Q3 2023 RESULTS +6,1% IN GROSS RENTAL INCOME AT €37.4M
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
1745719 11-Oct-2023 CET/CEST