BRIEFING NOTE

Renta Corporación registers accumulated profits of €1.6M

by September

  • In July, Renta Corporación formalised the sale of approximately half of its shares in Vivenio, generating a cash inflow of €12.7M and a capital gain of €2.5M, in addition to the period's profits of €1.6M
  • The company will pay a divided of €1.2M to its shareholders

Barcelona, 4 November 2021.- Renta Corporación closed the first nine months of the year with a net accumulated positive result of €1.6M, which represents a favourable evolution of its activity compared to the same period of the previous year and leaves behind the crisis caused by COVID-19 in the real estate sector.

The results achieved by Renta Corporación and the funds obtained for the sale of approximately half of its shares in the REIT Vivenio to the Australian fund Aware Super - an action that resulted in a cash inflow of €12.7M and a gross profit of €2.5M - have allowed the company to pay dividends once again to its shareholders. This compensation to Renta Corporación's shareholders will be paid in the amount of €0.03733194 gross per share, on account of the profit for the year 2021, equivalent to €1.2M gross.

Revenue reached €47.1M by September, principally concentrated in transactional business, with an increase of 40% compared to the same period in 2020. This positive revenue figure was achieved thanks to the closing of important sales in Madrid and Barcelona, mainly a logistics operation in Carretera del Mig (Hospitalet de Llobregat), two residential properties on the Euterpe and Francesc de Bolós streets in Barcelona, an office building on the Gran Vía in the Catalan capital, and three hotel operations in Barcelona, as well as a batch of five residential buildings in Ciudad Lineal, in Madrid.

On the other hand, the corporate operation regarding Vivenio with the entry of the Australian pension fund Aware Super into the company's capital will result in an additional €400M being available for the acquisition of new residential buildings, strengthening the company's asset management business.

Thus, Renta Corporación has a business portfolio that reaches €201.2M at the end of the third quarter, a 55% increase compared to the company's portfolio at the end of the previous financial year; and maintains a portfolio of highly liquid and well-located assets.

Renta Corporación continues to maintain a solid liquidity position and closes the quarter with a debt-to-assets ratio of 28% and net financial debt significantly reduced to €31.3M, these being key aspects of the company's management that are constantly being monitored. The company's liquidity remains healthy and increased to €14.5M by September.

Furthermore, the company maintains the diversification of its financing sources, complementing its direct financing programme from the Official Credit Institute through the purchase of promissory notes on the Alternative Fixed Income Market with the signing of a contract under their collateralised debt securities programme in February. In addition, Renta

BRIEFING NOTE

Corporación renewed its 12-month promissory note programme in May, increasing the maximum outstanding balance limit to 50 million. With regard to structural costs, these decreased to €5.2M, €1.7M down from €6.9M in the same period in 2020.

At the stock market level, Renta Corporación's share price closed September with a value of €2.28 per share, representing an increase of 11% compared to the €2.05 per share at the close of the 2020 financial year. The company's stock market performance reflects the post- pandemic recovery of economic activity in general and of the real estate sector in particular, as well as the positive performance of Renta Corporación's business, which has solid foundations, a highly liquid asset portfolio, a healthy balance sheet and a solid financial position, which will allow it to take advantage of the opportunities presented by the market in the coming months.

About Renta Corporación

Renta Corporación is a listed real-estate company with a unique business model based on value creation through the acquisition of property assets for conversion and adaptation to market needs and their subsequent sale to third parties. The real estate company concentrates its business focus on the Madrid and Barcelona markets, the two most liquid and busiest arenas in Spain. The company complements its business model through its asset management activity, managing various types of real estate assets owned by both the company and participating companies, mainly the housing REIT Vivenio, which currently owns more than 6,000 residential properties.

For more information:

www.rentacorporacion.com

93 217 22 17

Violant Floresvflores@llorenteycuenca.com

Ramon Tornértorne@llorenteycuenca.com

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Renta Corporación Real Estate SA published this content on 04 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2021 19:45:05 UTC.