20 Avr 2017

Q1 2017 RESULTS Gross rent increased by +4.5% to € 10.3 million

 

During the first quarter, gross rental income of the operating property portfolio amounted to €10.3m, an increase of +4.5% from the same period last year.

in € m – year to date 2017 2016 Variation %
Like-for-like 9.5 9.4 +0.1 +0.9%
Acquisitions 0.7 0.1 +0.6 N/A
Disposal or refurbishment of assets 0.1 0.4 -0.3 N/A
Total gross rental income 10.3 9.9 +0.4 +4.5%

This increase is mainly derived from the full-year effect of 2016 acquisitions.

After significant acquisitions in 2016, Patrimoine & Commerce stabilized its portfolio during the first quarter of 2017.

The Company will propose a dividend of €1.08 at the next shareholders’ meeting. Shareholders will get the opportunity to reinvest their dividends in new shares of the Company.

Outlook                                                                                          

Eric Duval, Founder and Managing Director of Patrimoine & Commerce commented: « We enjoy high visibility on our 2017 prospects. We expect to meet growth target with our identified development pipeline. Considering this quarter and the solid financial structure, we are confident in Patrimoine & Commerce’s ability to continue its development ».