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Tour Eiffel (Société de la) — Earnings Release 2012
May 10, 2012
1712_iss_2012-05-10_a58815c8-9e47-4e71-8df9-bdb325bf4703.pdf
Earnings Release
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Société de la Tour Eiffel 10th May 2012
Increased 2012 first quarter's turnover
The consolidated turnover for the 2012 first quarter amounted to € 20.7M, compared to € 20.2M in 2011, of which rents represented respectively € 17.5M and € 17.3M.
This rental outcome results largely from rental indexation on the core portfolio (+€ 0.5M) countered by 2011 property disposals (-€ 0.3M of rents).
Setting aside disposals, rents show an increase of 2.9%.
Consolidated turnover
| (in M€) | 2012 | 2011 |
|---|---|---|
| First quarter | 20.7 | 20.2 |
| Of which rents | 17.5 | 17.3 |
Operational highlights for the first quarter:
- 8,000 m² of new lettings and renewals (€ 1M of annual rent), of which 2,870 m² was leased to Altran in the Energy 2 office renovation, Vélizy;
- the delivery of the Air building (labeled low-energy building) namely 2,200 m² of offices leased with a 9 year firm commitment to Spie Sud-Est (€ 0.3M of annual rent) in the Parc Eiffel du Moulin à Vent in Lyon;
- several agreed sales reflecting the announced strategy of gradually focusing the portfolio on modern, sustainable offices at moderate rents located in the Paris region. Disposals under contract as at 31st March 2012 amounted to € 16.9M whereas transactions in hand imply a potential total volume of disposals of over € 50M for the year to date.
Calendar 2012: - 24th May at 11H: Combined General Meeting at the Automobile Club de France (6 Place de la Concorde – Paris 8ème)
- 25th June: pay-out of the final 2011 dividend (submitted to the approval of the Annual General Meeting), with option for payment in cash or by scrip issue
- 26th July: half-year results
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
Jean-Philippe MOCCI Jérôme DESCAMPS Capmot Deputy Managing Director (Finances) 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