Activity at end-September 2022: record letting performances

  • Finance

October 20, 2022

Property markets driven by good letting activity

  • Offices: rental demand continued its rebound in Q3
  • Germany residential: the growing imbalance between supply and demand continues to drive up rents
  • Hotels: performances now surpassing 2019 levels

Continuation of good operating performances across all businesses

  • 119,000 m² in office space let or pre-let since the beginning of 2022, plus 126,000 m² in leases renewed
  • Further successes in our development pipeline: 3 deliveries in September, 76% let on average
  • Sustained rental performance in Germany Residential
  • Hotels: strong recovery confirmed

Record like-for-like revenue growth at end-September 2022: 13.9%

  • Revenues, Group share up 13.9% like-for-like to €470.9 million
  • Offices: acceleration of like-for-like growth to 4.5%, driven by indexation and lettings
  • Germany Residential: up 3.0% like-for-like, 99% occupancy rate
  • Hotels: up 85.3% like-for-like, driven by the rebound in variable revenues and asset management work
  • Occupancy rate: 96.2%

Strengthened debt profile

All bonds issued by Covivio are now green

€550 million in financings signed in Q3

€287 million in new disposals agreements at end-September, 1.7% above appraisal values

ESG: Covivio awarded again by GRESB Rating in 2022

  • 88/100 score and GRESB « 5-Star » rating maintained

ContaCt

Press Relations

Géraldine Lemoine

Tél : + 33 (0)1 58 97 51 00
Mail : geraldine.lemoine@covivio.fr

Louise-Marie Guinet

Tél : + 33 (0)1 43 26 73 56
Mail : covivio@wellcom.fr

Investor Relations

Vladimir Minot

Tél : + 33 (0)1 58 97 51 94
Mail : vladimir.minot@covivio.fr