18 Juil 2018

H1 2018 Results gross rent of €21.4 million, +4.1 % progress

  H1 2018 RESULTS

 Gross rent of €21.4 million, +4.1 % progress

 

For the first half of 2018, gross rental income of the operating property portfolio reached €21.4m, up +4.1% compared to the same period last year.

in € m – year to date H1-2018 H1-2017 Variation %
Like-for-like 16.9 16.9 0.0 0.0%
Acquisitions 1.8 0.0 +1.8 N/A
Sold assets 0.2 0.7 (0.5) N/A
Restructuring 2.4 2.9 (0.5) -15.8%
Total gross rental income 21.4 20.6 +0.9 +4.1%

This increase is mainly due to the full-year effect of acquisitions, partially offset by the disposal and restructuring of assets.

Acquisitions

During the first semester of 2018, Patrimoine & Commerce increased its presence in Bourg-en-Bresse (Ain) with the acquisition of a 930 m² commercial unit adjacent to a property acquired in 2017. In addition, Patrimoine & Commerce invested in a 5,130 m² property leased to Conforama and located in Lannion (Côtes-d’Armor).

Global investment in these properties summed €4.2m generating €0.32m in annual rent.

Asset disposal

Patrimoine & Commerce disposed of ground-floor shops located in Gif-sur-Yvette (Essonne), Montfermeil (Seine-Saint-Denis) and Paris as well as a commercial property located in Jouy-aux-Arches (Moselle). These sales totaled €12.4m in line with appraisal values.

2017 dividend distribution of €1.15 per share

The general assembly, held on the 27th of June 2018, approved a dividend payment of €1.15 per share. Shareholders can opt either for a payment in cash or in new shares of the company. The submission deadline for the share payment is July 20th.