PATRIMOINE ET COMMERCE: Q1 2024 RESULTS

PATRIMOINE ET COMMERCE PATRIMOINE ET COMMERCE: Q1 2024 RESULTS 12-Apr-2024 / 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 2024 RESULTS       Paris, April 12, 2024   The gross rental income of the real estate portfolio of Patrimoine & Commerce reached 13.1 million of euros for the first three months of 2024, an increase of +8.0% compared to the first three months of 2023. GROSS RENTAL INCOME                   in millions of euros - 3 months 31/03/24 31/03/23 Var. Var. % Constant Perimeter 12.7 12.1 +0.6 +4.7% Acquisitions 0.2 - +0.2 n/a Disposals 0.0 0.0 (0.0) n/a Properties under restructuring 0.2 - +0.2 n/a Gross rental income 13.1 12.1 +1.0 +8.0%   This increase is mainly explained by: A like-for-like increase of +4.7%, mainly due to the contractual indexation of rents, A positive impact of the delivery of restructuring works (La Ville-du-Bois) and of acquisitions (Saint-Parres-aux-Tertres) carried out during the second quarter of 2023.     Disposals During the first quarter of 2024, Patrimoine & Commerce completed the disposal of a small  commercial gallery in Gaillon (Normandie), 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 2024 confirms the solid trend of 2023, with the increase in rents under the effect of indexation and proactive management of our portfolio. We are benefiting from the positive effect of the delivery of the restructuring operation of Ville-du-Bois site, and we will continue to carry out targeted acquisitions and to dispose of non-core assets. We are continuing this approach with the aim of strengthening our position as leading player in low-cost retail parks in France”.   Agenda June 13, 2024  Annual General Meeting July 24, 2024  First-Half 2024 results October 11, 2024 Third-Quarter 2024 activity           ------------------------------------ About Patrimoine & Commerce    Patrimoine & Commerce owns and operates a real estate portfolio, largely comprising retail property, covering a total surface area of close to 530,000 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  PRESS – INVESTORS RELATIONS   Eric DUVAL  Managing Director  [phone]    CYLANS Tél. : [phone] [e-mail]     Regulatory filing PDF file File: EN_CP Résultats 1T 2024

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:	1878615

End of Announcement	EQS News Service

1878615  12-Apr-2024 CET/CEST