19-07-2018

2018 half-year results: confirmed positive dynamic

«Covivio, the new name for Foncière des Régions, symbolises our ambition to set real estate in motion to harness the ever increasing aspirations of our users. The major achievements of recent months illustrate this strategy and are reflected in our accelerated operational and financial performances“.

Christophe Kullmann, Chief Executive Officer of Covivio

Covivio, the new name for Foncière des Régions

  • Covivio, a player in living real estate, asserts its European dimension and its proximity to customers
  • A unique brand for all Group entities
  • 20 years of growth and performance :
    • €23 billion portfolio vs. €100 million
    • Average annual share price performance of 12.8% vs. 7.9% for the EPRA Europe index

Major progress on our strategic pillars

  • Merger with Beni Stabili, a key step in organisational simplification
  • A step forward in development in major European cities
    • Acquisition of a prime hotel portfolio in the United Kingdom for €976 million
    • New acquisitions in the residential sector in Berlin for €435 million
    • Acceleration of the development pipeline : €1.2 billion of committed projects, mainly in Paris and Milan
  • Expansion of the offering to promote customer experience
    • Wellio, the new flexible space and coworking brand
    • Roll-out of the Berlin coliving offering
    • Acceleration of tenant service offerings

New growth in half-yearly results

  • Acceleration of like-for-like income growth of 3%
  • Like-for-like growth in asset values: +2.8% over 6 months
  • S&P rating outlook upgraded to BBB, positive outlook
  • EPRA Earnings per share of €2.56, growth of 2.7%
  • Increase in EPRA NAV of 7.9% over 12 months, to €95.4 per share

2018 outlook confirmed

  • Objective of a 2018 EPRA Earnings per-share growth of around 3%

 

Press release:

Download press release

 

Contact

Relations Presse

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

Relations Investisseurs

Paul Arkwright

Tél : + 33 (0)1 58 97 51 85

paul.arkwright@covivio.fr