Earnings Release • Apr 25, 2018
Earnings Release
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Paris, April 25, 2018 – 8:00 a.m. Quarterly financial information
| In millions of euros | Q1 2018 | Q1 2017 | Change |
|---|---|---|---|
| Rental income | 12.9 | 13.0 | -0.5% |
| In euros per share | |||
| Ordinary dividend Special dividend |
2.2 1.9 |
2.1 | +4.8% |
Unaudited figures.
In the first quarter of 2018, Cegereal continued to pursue its dynamic asset management strategy across all of its real estate assets, particularly Europlaza. As a result, rental income came in at €12.9 million, stable compared with the same prior-year period.
In La Defense, the renovation of Europlaza's upper floors vacated by GE Capital in 2017 is expected to be completed by summer 2018. The 8,000-sq.m premises will offer tenants a work environment promoting employee well-being and meeting the highest environmental standards.
These features, which Cegereal is promoting through its portfolio, were one of the main reasons KPMG leased 2,500 sq.m of "garden floors", on a nine-year term with no break.
The overall occupancy rate for Cegereal's properties remained high, coming in at 90.5% at March 31, 2018.
At the Annual Shareholders' Meeting on April 24, 2018, shareholders approved the financial statements for the year ended December 31, 2017 and the payment of a dividend of €4.1 per share in 2018. The dividend, to be paid on May 4, 2018, comprises an ordinary dividend of €2.2 per share and a special dividend of €1.9 per share.
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| - | May 4, 2018 | Dividend payment |
|---|---|---|
| --- | ------------- | ------------------ |
For more information, contact:
Charlotte de Laroche / +33 1 42 25 76 38 [email protected]
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Created in 2006, Cegereal is a commercial property company that invests in prime office properties in Greater Paris. The portfolio's appraisal value is estimated at €1,257 million at December 31, 2017 (replacement value). From an environmental point of view, Cegereal's portfolio 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 €551 million on April 23, 2018. www.cegereal.com
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