Paris, April 30, 2019 - 6:00 p.m.
Quarterly financial information
STRONG GROWTH IN RENTAL INCOME AND OCCUPANCY RATE
Key indicators
Q1 2019 | Q1 2018 | Change | ||||||||
In millions of euros | ||||||||||
IFRS rental income | 15.8 | 12.9 | +22.2% | |||||||
Occupancy rate | 96.6% | 90.5% | +5.1 pts | |||||||
In euros per share | ||||||||||
Distribution | 2.3 | 2.2 | +4.5% | |||||||
Unaudited figures. |
Thanks to the Passy Kennedy acquisition and the recent lease signings, Cegereal recorded rental income of €15.8 million in first-quarter 2019, up a sharp 22.2% compared with the same prior-year period.
Highly successful rental activity
In only three months, Cegereal enjoyed brisk rental activity on more than 11,000 sq.m with extensions, renewals or new leases signed on 6% of the portfolio's surface area.
Reflecting these signings, Cegereal's overall occupancy rate stood at 96.6% at March 31, 2019, up from 96.1% at end-December 2018. The occupancy rate stood at 90.5% at March 31, 2018.
As announced in Cegereal's full-year results, the Europlaza tower is welcoming 200 employees from the European Banking Authority who are gradually moving into the fully renovated spaces on floors 24 to 27.
An ambitious capital expenditure program
Cegereal is anticipating its tenants' new expectations by continuing its capital expenditure program. The restaurant facilities at the Europlaza tower are to be transformed into fully-fledged living spaces designed to offer a bright, comfortable and connected environment where tenants can get together and socialize.
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May 2019 distribution: €2.3 per share
At the Annual Shareholders' Meeting on April 30, 2019, shareholders approved the Company's financial statements as well as a distribution of €2.3 per share, up 4.5% compared with the prior year.
Investor Calendar
-May 7, 2019 Payment of the 2018 dividend
-July 25, 2019 First-half 2019 results
For more information, contact:
Media Relations | Investor Relations |
Aliénor Miens/Alexandre Dechaux | Charlotte de Laroche |
+33 7 62 72 71 15 | +33 1 42 25 76 38 |
cegereal@citigatedewerogerson.com | info@cegereal.com |
About Cegereal
Created in 2006, Cegereal is a commercial property company that invests in prime office properties in Greater Paris. The total value of the portfolio is estimated at €1,409 million at December 31, 2018 (excluding transfer duties).
From an environmental point of view, Cegereal's portfolio is fully certified with NF HQETM Exploitation and BREEAM In-Use International certification, and benefits from the "Green Star" rating in the international GRESB benchmark.
Cegereal is a REIT listed on Euronext Paris since 2006, in compartment B (ISIN: FR0010309096). The Company had a market capitalization of €639 million at April 29, 2019.
www.cegereal.com
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CeGeReal SA published this content on 30 April 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 April 2019 16:22:10 UTC