PATRIMOINE ET COMMERCE: Q1 2023 RESULTS

PATRIMOINE ET COMMERCE PATRIMOINE ET COMMERCE: Q1 2023 RESULTS 12-Apr-2023 / 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 2023 RESULTS       Paris, April 12, 2023   The gross rental income of the real estate portfolio of Patrimoine & Commerce reached 12.1 million of euros for the first three months of 2023, an increase of +7.2% compared to 2022. GROSS RENTAL INCOME                   in millions of euros - 3 months 31/03/2023 31/03/2022 Var. Var. % Constant Perimeter 10.9 10.4 +0.5 +4.9% Acquisitions 0.9 0.2 +0.7 n/a Disposals - 0.6 (0.6) n/a Properties under restructuring 0.3 - +0.3 n/a Gross rental income 12.1 11.3 +0.8 +7.2%   This increase is mainly explained by: A like-for-like increase of +4.9%, due to the contractual indexation of rents and the decrease in the amortization of Covid-19 rent free periods, The delivery of restructuring operations on a property in Martinique and A net positive impact of +0.1 million euros as a result of acquisitions and disposals     Disposals During the first quarter of 2023, Patrimoine & Commerce completed the disposal of an isolated commercial unit in Vandoeuvre-lès-Nancy (Grand Est), for a total consideration of € 1.0m, in line with appraisal value.   Outlook Eric Duval, Founder and Director of Patrimoine & Commerce declared: « The performance of the first quarter of 2023 confirms the solid trend of 2022, with the increase in rents under the effect of indexation and the development of our portfolio. In 2023, we will continue to carry out targeted acquisitions and to dispose of non-core assets to strengthen our position as leader in low-cost retail parks in France”.       Agenda June 8, 2023  Annual General Meeting July 26, 2023  First-Half 2023 results October 11, 2023 Third-Quarter 2023 activity       ------------------------------------ About Patrimoine & Commerce    Patrimoine & Commerce owns and operates a real estate portfolio, largely comprising retail property, covering a total surface area of more than 520,000 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 2023 RESULTS

Language:	English
Company:	PATRIMOINE ET COMMERCE
	45 avenue Georges Mandel
	75016 PARIS
	France
Phone:	[phone]
E-mail:	[e-mail]
Internet:	https://www.patrimoine-commerce.com/
ISIN:	FR0011027135
Euronext Ticker:	PAT
AMF Category:	Additional regulated information to be pubicly disclosed under the legislation of a Member State / First quarter financial report
EQS News ID:	1604859

End of Announcement	EQS News Service

1604859  12-Apr-2023 CET/CEST