First quarter 2020 Activity

A diversified and secure model

  • 84% of the portfolio made up of offices and residential
    97.6% occupancy rate and 7-year firm average maturity of leases

A solid and strengthened balance sheet

  • The General Meeting approved the scrip dividend option
  • Enabling a capital increase of €200-€420 million
  • €2.5 billion of liquidity available at end-March

Consolidation in German offices well on track

  • At present, Covivio holds 59% of the Godewind Immobilien capital
  • This transaction strengthens the portfolio on one of Europe’s most resilient real estate markets

Disposal target of more than €600m Group share in 2020

  • €179m (€102m Group share) in sales realized in the first quarter and €190m (€164m Group share) in new sales agreements
  • Of which €132m completed and €157m signed since the start of the lockdown

Revenues at end-March 2020: +2.3% on a like for like basis, excluding hotels

  • Healthy activity in offices (+1.8% at like for like scope) and residential (+3.5%)
  • Impact of the pandemic on hotels: -10% at like for like scope

Coronavirus: Covivio on the move to contribute to the solidarity effort

  • Covivio making several of its hotels available
  • The Covivio Foundation is increasing its donation for 2020 and will focus its first actions on supporting the communities most affected by the economic impact of the crisis
  • Covivio supporting struggling VSEs and SMEs


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