PATRIMOINE ET COMMERCE: Q1 2022 RESULTS

PATRIMOINE ET COMMERCE PATRIMOINE ET COMMERCE: Q1 2022 RESULTS 13-Apr-2022 / 08:00 CET/CEST Dissemination of a French Regulatory News, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.   PRESS RELEASE Q1 2022 RESULTS     Paris, April 13, 2022   The gross rental income of the real estate portfolio of Patrimoine & Commerce reached 11.3 million of euros for the first three months of 2022, an increase of +3.2% compared to 2021:   GROSS RENTAL INCOME                   in millions of euros - 3 months 31/03/2022 31/03/2021 Var. Var. % Constant Perimeter 10.4 10.1 +0.3 +2.7% Acquisitions 0.5 0 +0.5 n/a Disposals 0.2 0.6 (0.4) n/a Properties under restructuring 0.2 0.2 - n/a Gross rental income 11.3 11 0.3 +3.2%   This increase is mainly explained by: A like-for-like increase of +2.7%, due to the contractual indexation of rents and the decrease in the amortization of Covid-19 rent free periods, A net positive impact of +0.1 million euros as a result of acquisitions and disposals   Acquisitions During the first quarter of 2022, Patrimoine & Commerce acquired six new assets, for a total consideration of 26.1 million euros and a yield of 7.2%.   These acquisitions comprise of six assets in Thonon-les-Bains (Auvergne-Rhône-Alpes), Avranches (Normandie), Colomiers (Occitanie), Tavers (Centre - Val de Loire), Villefranche-de-Rouergue (Occitanie) and Gonesse (Île-de-France), representing a total of 18 300 sqm. These properties, with a global occupancy rate of 94%, host stores amongst which Tape à l'oeil, Kiabi, Gifi, Distri Center, Armand Thiery or Jysk.   In addition, Patrimoine & Commerce launched in February 2022 the works to convert into a retail park 8 000 sqm of the shopping mall in Ville-du-Bois (out of a total of 19 500 sqm). This project represents an investment of 8.5 million euros.   Disposals During the first quarter of 2022, Patrimoine & Commerce completed the disposal of two non-strategic assets, an office property in Guadeloupe and a retail property in Epagny (Haute-Savoie), for a total consideration of 15.7 million euros, in line with appraisal value.       Outlook Eric Duval, Founder and Director of Patrimoine & Commerce declared: « The performance of the first quarter of 2022 is the result of sustained rental activity and the demonstration of the resilience of our business model. In this context, we pursued targeted acquisitions and the disposal of non-core asset to strengthen our position as leader in low-cost retail parks in France".   Agenda   June 16, 2022  Annual General Meeting  September 8, 2022 First-Half 2022 results  October 6, 2022 Third-Quarter 2022 activity      ------------------------------------ About Patrimoine & Commerce    Patrimoine & Commerce owns and operates a real estate portfolio, largely comprising retail property, covering a total surface area of 500,000 sqm. The assets are mainly located in retail parks near mid-sized towns throughout France. Patrimoine & Commerce benefits from a significant identified deal flow that will enable it to feed its growth, in terms of both assets under development and operating assets.        Patrimoine & Commerce is listed on NYSE Euronext Paris.  ISIN code: FR0011027135 - Mnémo code: PAT    For further information, go to?: www.patrimoine-commerce.com    For information, please contact:  PATRIMOINE & COMMERCE  KEIMA Communication  Eric DUVAL  Managing Director  [phone]    Emmanuel DOVERGNE  [phone]  [e-mail]    Regulatory filing PDF file File: Q1 2022 RESULTS

Language:	English
Company:	PATRIMOINE ET COMMERCE
	7 RUE NATIONALE
	92100 BOULOGNE BILLANCOURT
	France
Phone:	[phone]
E-mail:	[e-mail]
Internet:	https://www.patrimoine-commerce.com/
ISIN:	FR0011027135
Euronext Ticker:	PAT
AMF Category:	Inside information / News release on accounts, results
EQS News ID:	1326743

End of Announcement	EQS News Service

1326743  13-Apr-2022 CET/CEST