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Tour Eiffel (Société de la) — Earnings Release 2012
Nov 14, 2012
1712_iss_2012-11-14_92e7562d-aed2-4f52-bc17-a5f8d2ba8516.pdf
Earnings Release
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14/11/2012 Société de la Tour Eiffel 3rd quarter turnover 2012
Rental uplift on a like-for-like basis
Société de la Tour Eiffel's consolidated turnover for the first three quarters 2012 amounted to € 61.8m, virtually stable compared to the 2011 figure of € 61.9m, rents representing respectively € 52.0m and € 52.2m.
This rental evolution results from the combined effect of property disposals during the period (-€ 2m of rents), set off against rental indexation (+€ 1.8m).
On a like-for-like basis, rents increased by 3.5%.
| (in m€) | 2012 | 2011 |
|---|---|---|
| First quarter | 20.7 | 20.2 |
| Second quarter | 20.7 | 20.8 |
| Third quarter | 20.4 | 20.9 |
| 30st September accumulated | 61.8 | 61.9 |
| Of which rents | 52.0 | 52.2 |
Consolidated turnover
Operational highlights for the third quarter:
- over 20,000 m² of new lettings and lease renewals representing € 1.7m of annual rents of which the lease renewals with La Poste in Orléans and with Alstom in Nancy-Ludres, corresponding respectively to 6,500 and 8,100 m²;
- construction progress of Montrouge green labelled 5,500 m² office development;
- disposals amouting to € 7.7m, comprising a nursing home in Lyon and part of the Strasbourg Parc Eiffel. As at 30 September 2012, sales for the year totaled € 60m with a further € 18m under contract.
The physical and financial occupancy rates of the core portfolio were as at 30 September 2012 respectively 89.4% and 92% (against 89.7% and 92.3% as at 30 June 2012).
« Securing the rental flow of the portfolio in the face of the difficult economic context demonstrates the asset management dynamic of our teams and complements the stabilization of the group's financing costs over the next five years resulting from the recently announced major refinancing », comments Frédéric Maman, Deputy managing director of Société de la Tour Eiffel.
Agenda 14 February 2013 (pre market opening): 2012 turnover 20 March 2013 (post market close): 2012 annual results
Société de la Tour Eiffel will be present at the SIMI (commercial real estate trade fair) in Paris, 5 th to 7 th December 2012.
About Société de la Tour Eiffel
A « SIIC » quoted on the Euronext Paris Exchange, the company pursues a strategy focused on the ownership and the development of quality office and business space capable of attracting a wide range of tenants in both established and emerging locations. The company's portfolio stands close to 1 billion Euros of assets spread evenly between the Paris area and the regions.
Société de la Tour Eiffel is listed on NYSE Euronext Paris (compartment B) – ISIN code: 0000036816 – Reuters : TEIF.PA – Bloomberg EIFF.FP. Member of IEIF Foncières and IEIF Immobilier France indices
Tel :+33 (0)1 71 16 19 13/+33 (0)6 71 91 18 83 Tel : +33 (0)1 53 43 07 06 [email protected] [email protected]
Press contact www.societetoureiffel.com Communication
Jean-Philippe MOCCI Jérôme DESCAMPS Capmot Deputy Managing Director (Finances)