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MarketScreener Homepage  >  Equities  >  Euronext Bruxelles  >  Cofinimmo    COFB   BE0003593044

COFINIMMO

(COFB)
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Cofinimmo : sells an office building in the decentralised area of Brussels

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10/10/2019 | 12:31pm EST

PRESS RELEASE

Brussels, embargo until 10.10.2019, 5:40PM CET

Cofinimmo sells an office building in the decentralised area of Brussels

Cofinimmo signed today a private agreement regarding the sale of the office building Corner Building, located in the decentralised area of Brussels, for more than 4 million EUR. This amount is higher than the last fair value (at 30.06.2019) determined by the independent valuer of Cofinimmo. The notary deed should be signed shortly.

The building offers almost 3,500 m² of office space and 88 parking spaces, and is currently largely leased.

Jean-PierreHanin, Chief Executive Officer of Cofinimmo: "With the sale of this building, we pursue the execution of our strategy in the office segment. It consists of improving the overall balance of the office portfolio by reducing the part invested in the decentralised area to the benefit of assets located in the Central Business District of Brussels."

For more information:

Gunther De Backer

Yeliz Bicici

Head of External Communication

Chief Operating Officer

& Investor Relations

Offices

Tel.: +32 2 373 94 21

Tel.: +32 2 373 00 00

communication@cofinimmo.be

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PRESS RELEASE

Brussels, embargo until 10.10.2019, 5:40PM CET

About Cofinimmo:

Cofinimmo has been acquiring, developing and managing rental properties for over 35 years. The company has a portfolio spread across Belgium, France, the Netherlands, Germany and Spain, with a value of 4 billion EUR. With attention to social developments, Cofinimmo has the mission of making high-quality care, living and working environments available to its partners-tenants, from which users benefit directly. "Caring, Living and Working - Together in Real Estate" is the expression of this mission. Thanks to its expertise, Cofinimmo has built up a healthcare real estate portfolio of more than 2 billion EUR in Europe.

As an independent company that applies the highest standards of corporate governance and sustainability, Cofinimmo offers its tenants services and manages its portfolio through a team of over 130 employees in Brussels, Paris, Breda and Frankfurt.

Cofinimmo is listed on Euronext Brussels (BEL20) and benefits from the REIT system in Belgium (RREC), France (SIIC) and the Netherlands (FBI). Its activities are supervised by the Financial Services and Markets Authority (FSMA), the Belgian regulator.

On 30.09.2019, Cofinimmo's total market capitalisation stood at more than 3 billion EUR. The company applies an investment policy aimed at offering a socially responsible, long-term,low-risk investment that generates a regular, predictable and growing dividend.

www.cofinimmo.com

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Disclaimer

Cofinimmo SA published this content on 10 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 October 2019 16:30:01 UTC

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Financials (EUR)
Sales 2019 237 M
EBIT 2019 186 M
Net income 2019 226 M
Debt 2019 1 728 M
Yield 2019 4,18%
P/E ratio 2019 15,5x
P/E ratio 2020 14,9x
EV / Sales2019 21,9x
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Capitalization 3 457 M
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Technical analysis trends COFINIMMO
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Mean consensus HOLD
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Average target price 120,83  €
Last Close Price 134,00  €
Spread / Highest target 5,22%
Spread / Average Target -9,83%
Spread / Lowest Target -21,6%
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NameTitle
Jean-Pierre Hanin Chief Executive Officer & Executive Director
Jacques van Rijckevorsel Chairman
Yeliz Bicici Chief Operating Officer
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