15-10-2020

Activity at end-September 2020

Letting successes in Offices thanks to the complementary nature of Covivio’s solutions and expertise

• 14,600 m² of new leases signed for 7 years in the third quarter in France, Germany and Italy
• Full pre-commercialisation of Wellio Paris Gobelins: 4,500 m² for nearly 5 years
• Opening of 1st flex-office Wellio space in Milan end-August, already 61% occupied
• Renewals on 23 assets with Orange in France (47,600 m²) for 9 years

Implementation of value-creating development pipeline

• Deliveries of 64,000 m² of tertiary assets in France and Italy, expected value creation of 30%
• First deliveries of residential projects in Berlin comprising 123 apartments with 46% margin over total cost

Close to €500 million of disposals Group share with 12% margin

• Mainly in Offices (67%) and Germany Residential (25%)
• Well on track to realize Group share target of over €600 million in 2020

Operating activity in line with guidance announced in July

• Excellent rent collection rates: 98% in Offices and Residential, 92% in Hotels
• Like-for-like rental income growth: +1.5% excluding Hotels
• Hotel performance still impacted by restrictions: revenues down 52% on a like-for-like basis

Non-financial ratings: excellence and ambition of ESG strategy rewarded once more

• Covivio remains the leader in its sector thanks to its A1+ Sustainability Rating by Vigeo Eiris
• The Group is ranked among world leaders by ISS-ESG (top 3% worldwide) and MSCI (AA rating)

 

 

Press release:

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Contact:

Press Relations

Géraldine Lemoine

Tél : + 33 (0)1 58 97 51 00

geraldine.lemoine@covivio.fr

 

 

Laetitia Baudon

Tél : + 33 (0)1 44 50 58 79

laetitia.baudon@shan.fr

Investor Relations

Paul Arkwright

Tél : + 33 (0)1 58 97 51 85

paul.arkwright@covivio.fr